Most people live in their overdraft and don’t see the distinction between their money and the bank’s money, but this isn’t the kind of behaviour that lenders want to see. You are free to gamble with your earnings, but only if this is money you have in the bank, not money you’re borrowing from the bank. This means you should never be using betting websites when you are in your overdraft or place a bet using a credit card. One of the biggest factors that will deter lenders is borrowing money to place bets. If one person regularly deposits money into a gambling account, and the other puts their money into savings, then it’s easy to see which borrower will be more attractive to lenders To do this, they have to assess the level of risk involved with backing one borrower over another. Just like a gambler, lenders are only concerned with making sure they don’t lose money. But if you also have poor credit, a history of late payments, and you’re placing large deposits in online gambling websites that are outside of your budget, this is a different story.

When your betting is within your spending money and you aren’t using a credit facility to place the bets, this doesn’t ring any alarm bells to the lender. If you bet small amounts here and there, the lender is unlikely to care about these transactions. They are trained to look for the signs of regular gambling, and they may see this in regular transactions to common betting websites.

This is all part of the process for ensuring that your mortgage is affordable. Underwriters will examine these for signs that your earnings and expenses match what you have stated. When you submit a mortgage application, you will be asked to provide 3 months of bank statements. How can I increase my chances of being approved? How do lenders detect gambling?

Gambling bank statement mortgage