Mortgage application

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Lorgan
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Mortgage application

Sat Feb 22, 2014 10:44 am

Anyone had any experience with this and how the banks react to arbing activity in you main accounts?

I had a discussion with a mortgage advisor yesterday from my main bank and mentioned that I have some gambling transactions but did not say anymore - the reaction was not great.

I have loads of credit card transactions direct to tons of books and also decent sums (20k+) moving to a fro from Skrill and books. I am guessing they will be concerned about money laundering and also that I am a degenerate gambler and not a safe investment?

Particularly interested in anyone with experience lending in the UK.

I was also wondering if they do ask questions about what I am doing if its a good idea to show them
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arbusers
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Re: Mortgage application

Sat Feb 22, 2014 11:37 am

anks will go by the book, so i suggest you dont reveil this source of income. They will not understand.
CheckBestOdds
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Re: Mortgage application

Sat Feb 22, 2014 12:16 pm

Don't mention about it at all. People usually don't understand sports betting. They think it's the same like going to casino. They will take you as a hardcore gambler. If they ask about it, you can tell them it's an income from your online marketing jobs, ads on your private website etc. 
Lorgan
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Re: Mortgage application

Sat Feb 22, 2014 5:48 pm

Thanks - I am not concerned about adding this as a source of income and would be a bit hesitant to make up an online business. My only real worry is about all the deposits / withdrawals direct to the books - I think the bank is smart enough to identify gambling activity.

I thought that maybe I should try to lend from another bank that (I assume?) would have no visibility of these transactions - unfortunately my arbing bank seems to have the best rates... I'll report back once I go through the process if I learn anything
Last edited by Lorgan on Sat Feb 22, 2014 5:50 pm, edited 1 time in total.
Lansky
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Re: Mortgage application

Fri Feb 28, 2014 2:24 am

Lorgan wrote: Thanks - I am not concerned about adding this as a source of income and would be a bit hesitant to make up an online business. My only real worry is about all the deposits / withdrawals direct to the books - I think the bank is smart enough to identify gambling activity.
It all depends if the folks running the bank are the 'Evangelical Force their Morals on Everyone Else Type' or the 'Who Cares Where the Money Comes From As Long as it Keeps Flowing in Type Type'. Just be glad you're across the pond and far from the reach of the US's 2006 UIGEA. Most Canadian banks for example will blacklist accounts for online gaming transactions due to heavy-handed pressure from South of the border.
In Arbitrage, Percentages are Vanity and Turnover is Sanity.
Floralys
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Re: Mortgage application

Fri May 20, 2016 8:41 pm

I just heard from one of my friends, who has very good profesional relationships with banks, that a couple of guys were rejected when applying for a mortgage just because of "gambling activity", even though money was transfered from/to persons account in another bank.
Has any of you guys have similar experience? Do banks really share info like this? I am especially concerned about eastern european countries like Czech R., Slovakia, Poland,...
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Re: Mortgage application

Sat May 21, 2016 5:28 am

gambling transactions are a no-go for banks and they will most likely reject your credit application. the best way is to open an account at another bank just for this type of transactions and keep you main bank account clean. and if they reject your application they will very likely flag you as a gambler and you won't get money in the future also. usually banks only check the transactions of the last few months, so if you want the credit from your bank and are able to wait a few months it would be better to let a few months pass by without any gambling transactions.

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