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Online gambling account unhelpful to mortgage application?

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  • 06-09-2011 8:22pm
    #1
    MANUTD99
    Registered Users Posts: 1,162 ✭✭✭


    I have a PP Online account. I would bet between 20 to 100 per month on football/horse racing. I have never put in more money than I have taken out per month so you could say I'm in a plus all the time.

    Would it look bad when I am applying for a mortgage that I have a online gambling account and should I quit it?

    thanks


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    #2
    cookie1977
    Registered Users Posts: 6,794 ✭✭✭cookie1977


    How would they know?


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    #3
    MANUTD99
    Registered Users Posts: 1,162 ✭✭✭MANUTD99


    cookie1977 wrote: »
    How would they know?

    Would the bank want to look at my bank statements and stuff. It comes up Paddy Power on my current a/c statement every month for the cash deposits I put on my gambling account


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    #4
    cookie1977
    Registered Users Posts: 6,794 ✭✭✭cookie1977


    I dont think it'll matter too much. As long as you've more going in then going out. People do gamble.


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    #5
    amdublin
    Registered Users Posts: 20,653 ✭✭✭✭amdublin


    Article in the paper a couple of days ago saying it wont look good asking your lender to restructure if you have pp on your statement.

    In my personal opinion I don't think it would look great from a new application perspective either.


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    #6
    cookie1977
    Registered Users Posts: 6,794 ✭✭✭cookie1977


    Stopping now isn't going to do much since they probably will get to see the last quarter of your yearly transactions. If it's your own bank you're applying to then they can see everything.
    Mortgages are hard enough to get at the moment anyway. But if you've good saving and a good income with no property to sell (or in negative equity) spending 20-100 euro a month on some online gambling is probably not going to knock you out of the running.

    Maybe speak to a broker for advice and they can look at your overall financial situation.


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    #7
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    MANUTD99 wrote: »
    I have a PP Online account. I would bet between 20 to 100 per month on football/horse racing. I have never put in more money than I have taken out per month so you could say I'm in a plus all the time.

    Would it look bad when I am applying for a mortgage that I have a online gambling account and should I quit it?

    thanks

    It will matter. Un written rule to be careful with those folk with these type of transactions on their account. 6 month history will be looked at.

    Over all it depends on what your looking for from the bank.


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