Mortgage Application

[breadstick]

Does having a betting account affect your chances of having a mortgage accepted?

my nephew is looking to get on the property ladder but he spends around 10 quid a week betting online his account is usually in credit by each pay day but is concerned this will affect his chances, i thought i would ask you good people

[Canary42]

Ask Experian.

www.creditexpert.co.uk

[Buenchico]

The account won't show up an a credit reference check.

However mortgage application forms now ask far more detailed questions about outgoings than they used to, so he might well encounter a question where he's required to declare his betting expenditure. Failure to declare it would be a criminal offence.

[venator]

Experian's good. A copy of your credit rating and history is available, used to be £2.

Beware of companies who charge a monthly fee

[Dee Sa]

never known a gambler only spend £10 a week, believe me gamblers are very convincing when they tell you porkies. If it was only a tenner a week why would your nephew worry about such a small amount ? sorry to be so negative but when younger I was married to a gambler.

[Peter Pedant]

betting itself should not do
clearly this is a tenner a week that they cannot count on as payable on his mortgage

and yes he should apply now and buy now rather than later

[Peter Pedant]

oh and it seems nowadays that you can easily get 5 x annual whack

In my day (1980 ) it was never more than 2.5 times
but then I was once paying 13% on my standard variable mortgage