"Gambler" mortgage issues.

BowlingLad

Hi guys, made a post on another part of boards about this topic, i am interested to hear from anyone that had their bank statements containing any online betting firms queried.

http://www.boards.ie/vbulletin/showthread.php?p=76598117#post76598117

sorry mods if this is not allowed but the people viewing both forums might be useful to me.:o

The_Honeybadger

There are a number of mortgage advice sites which state that gambling transactions on your bank statements are a big no no if you want to get credit. Yes you are entitled to your privacy, but surely you can see why this would make lenders nervous.

BowlingLad

hi mickeyk, full agree, thats the system, my query is more how does one correct this "short coming". 6 months clean, 1 year?

Senna

BowlingLad wrote: »

hi mickeyk, full agree, thats the system, my query is more how does one correct this "short coming". 6 months clean, 1 year?

If you're applying for a mortgage banks will normally want bank statements for a certain period of time, 3/6/12 months previous, cant see them asking for statements going back any longer than a year.
But if you apply through your own bank they MAY look back longer and yes seeing "PP online" etc will probably only hurt your case.
If you are going into a bank for approval in principle first, they will probably tell you what length of time the bank statements must be from.

SteelyDanJalapeno

Strongly urge to start using a 3rd party to hold your bankroll between your bank account and online gaming sites, the 3rd party will appear on your records with no links to any other sites.

Look at the likes www.skrill.com - formerly moneybookers.

for future reference for yourself of course, or anyone else currently online gaming and might be looking for loand or mortgages down the line.

Senna

TiltedBrain wrote: »

Strongly urge to start using a 3rd party to hold your bankroll between your bank account and online gaming sites, the 3rd party will appear on your records with no links to any other sites.

Look at the likes www.skrill.com - formerly moneybookers.

for future reference for yourself of course, or anyone else currently online gaming and might be looking for loand or mortgages down the line.

The bank will scrutinise any regular payments, if they see something coming up again and again you will have to have a good explanation. It wont take them long to google a name and realise exactly what it is.

SteelyDanJalapeno

Senna wrote: »

The bank will scrutinise any regular payments, if they see something coming up again and again you will have to have a good explanation. It wont take them long to google a name and realise exactly what it is.

Its not designed for any covert gambling, its an online wallet, i pay most of my bills from it too, phone, electric, any subscriptions i may have

Senna

TiltedBrain wrote: »

Its not designed for any covert gambling, its an online wallet, i pay most of my bills from it too, phone, electric, any subscriptions i may have

First thing the bank will ask for is a statement from that account, as its basically a bank account.
I when through the mortgage process recently and they will scrutinise everything. I took out a small loan a few months back and they asked to know why i was sending €20 to my brothers account once a month:rolleyes:

BowlingLad

a note on shrill, moneybookers, paypal.

I got a small car loan a few months ago, there was very few gambling transactions on the current account at the time, there was a few moneybookers, and it was moneybookers that raised the question which led to the advise of withdraw money for gambling in cash and deposit elsewhere.

Its still stupid, I could be withdrawing hundreds a day in cash to inject heroin into myself, or to fund ladbrokes, why is that ok? If someone is saving your disposable income is your disposable income.

plus i dont like this idea of jumping to a conclusion someone who uses paddy power online is more likely not to pay back bank, theres 1000's of paddy power users, majority of households in ireland probably have at least one account.

It is like me asking you do you drive?
Do you drink?
Holy **** you must be a drink driver who knocks people down!

djimi

BowlingLad wrote: »

Its still stupid, I could be withdrawing hundreds a day in cash to inject heroin into myself, or to fund ladbrokes, why is that ok? If someone is saving your disposable income is your disposable income.

plus i dont like this idea of jumping to a conclusion someone who uses paddy power online is more likely not to pay back bank, theres 1000's of paddy power users, majority of households in ireland probably have at least one account.

It is like me asking you do you drive?
Do you drink?
Holy **** you must be a drink driver who knocks people down!

Its not the same as that at all to be fair. If someone has regular outgoings to a gambling company its not hard to see why a lender might want to investigate this further. Im sure if its only €20 here and there going to PP and it only accounts for a small portion of your available monthly cash then it wont be an issue, however if half your money every month is going to PP then of course a lender is going to question whether or not you may have issues with gambling and whether or not you would be considered a high risk.