Online Gambling Mortgage Companies
Other items being scrutinised by banks include tuition fees, Sky digital subscriptions and mobile-phone bills.
If you've been refused a mortgage due to gambling, then now might be the right time to turn things around and seek advice. Visit the GambleAware website for help with a gambling addiction. Because we play by the book we want to tell you that Your home may be repossessed if you do not keep up repayments on your mortgage. I was just wondering about how regular gambling activity affects a mortgage application? Presumably not good. Over the course of a month I may have 10-15 transactions to online gambling sites like SkyBet or PaddyPower totalling £100-£160. My take home pay is around £2,200 - £2,300. Believe that winning at online gambling will satisfy a mortgage lender Just because the money you've invested in gambling is going back into your account, does not mean that mortgage lenders will class this as a reliable source of income! Take out a loan to pay off gambling debts.
Chief executive of mortgage debt advisory firm Negotiate, Trevor Grant, said gambling transactions on bank statements are often used as a reason to decline a mortgage or restructure application, regardless of any other financial information submitted and its strength.
Mr Grant said: 'When a lender assesses an application for reduced mortgage repayments due to financial difficulty, the customer is required to submit a detailed application, often including current account and credit-card statements.
'Not unreasonably, lenders will form a view that if the customer is struggling to pay their mortgage they should be tightening their belts, and they consider gambling, for example, as a non-essential activity and therefore should be one of the first social indulgences to be cut,' he said.
The director of the Irish Mortgage Corporation, Frank Conway, said he has seen cases where lenders have questioned mobile phones, school tuition costs and Sky bills.
Online Gambling Mortgage Companies
Other items being scrutinised by banks include tuition fees, Sky digital subscriptions and mobile-phone bills.
If you've been refused a mortgage due to gambling, then now might be the right time to turn things around and seek advice. Visit the GambleAware website for help with a gambling addiction. Because we play by the book we want to tell you that Your home may be repossessed if you do not keep up repayments on your mortgage. I was just wondering about how regular gambling activity affects a mortgage application? Presumably not good. Over the course of a month I may have 10-15 transactions to online gambling sites like SkyBet or PaddyPower totalling £100-£160. My take home pay is around £2,200 - £2,300. Believe that winning at online gambling will satisfy a mortgage lender Just because the money you've invested in gambling is going back into your account, does not mean that mortgage lenders will class this as a reliable source of income! Take out a loan to pay off gambling debts.
Chief executive of mortgage debt advisory firm Negotiate, Trevor Grant, said gambling transactions on bank statements are often used as a reason to decline a mortgage or restructure application, regardless of any other financial information submitted and its strength.
Mr Grant said: 'When a lender assesses an application for reduced mortgage repayments due to financial difficulty, the customer is required to submit a detailed application, often including current account and credit-card statements.
'Not unreasonably, lenders will form a view that if the customer is struggling to pay their mortgage they should be tightening their belts, and they consider gambling, for example, as a non-essential activity and therefore should be one of the first social indulgences to be cut,' he said.
The director of the Irish Mortgage Corporation, Frank Conway, said he has seen cases where lenders have questioned mobile phones, school tuition costs and Sky bills.
Online Gambling Mortgage Lender
A spokesman from the Irish Banking Federation said it is important that borrowers seeking to restructure their mortgage repayments carefully review all of their income and expenditure as part of discussions with their lenders, in order to help identify a 'new, workable repayment arrangement'.