Generally speaking, gambling and mortgages do not mix well. Taking out a mortgage means that a bank or building society trusts that you’re able to pay the money back. But if they see that you’re an active gambler, then this may go against your application.

However, there is a difference between those who gamble large amounts of money on a regular basis (including those who are professional gamblers), compared to those who might put a small bet on every now and then.

Mortgage and gambling help. If you do like a punt every now and then, make sure you take the necessary steps to prevent your gambling from affecting your mortgage application. And if gambling is a. 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. The actual type of gambling can have a significant impact on mortgage approval, for example: the best winning streak ever on roulette is unlikely to be accepted, but a regular win ratio of online poker tournaments may well be, given that the game is based more on skill or knowledge than luck. 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.

When will gambling affect a mortgage application?

If you’re a professional gambler wanting to use your winnings as evidence that you can afford to take out a mortgage, then you might come up against a few hurdles, as this is considered far more risky than someone who has a job and gambles occasionally on the side. That’s not to say that it isn’t impossible though. Those lenders who are willing to lend you the money might alleviate this risk by increasing the interest rate and only lending a small amount of money.

Whilst you may argue that professional gambling is no different to getting a mortgage when self-employed, gambling is still deemed as a riskier business than self-employment, especially if there’s no trace of regular savings but a build-up of debt instead.

Ultimately, you need to be aware that if you’re a professional gambler, this activity is seen as a risk and could result in your mortgage being declined.

When won’t gambling affect a mortgage application?

When lenders carry out their affordability checks, they look at your bank statements from the previous 3-6 months. Therefore, any gambling on your bank statements during this period will be seen by your potential lender. However, the lender is not going to judge you on what you chose to spend your money on. Their primary concern is that you aren’t getting into debt in order to fund the gambling, so if you’re betting using your own money, and you aren’t in debt, then this shouldn’t affect your mortgage application.

Similarly, if you only put the odd bet on here and there, then you don’t need to worry about gambling affecting your mortgage application. Just be mindful that if your finances begin to suffer because of it, then this may affect things.

How to get mortgage approved

If you do gamble and you’re worried about getting a mortgage, you could try the following things to help improve your situation and get yourself mortgage ready:

Online Gambling Mortgage Lenders

Clear your debts - Clearing off any debt you have shows that you’re responsible when it comes to your finances.

Online Gambling Mortgage Companies

Regular savings - Again, it’s all about responsible lending, so if you can show that you have a savings account that you pay into regularly, the lender will see you as a low-risk borrower.

Good credit history- Having a good credit history improves your chances of getting a mortgage, so you should work to improve your credit score.

Stop gambling - The most obvious, but this can only happen if you want to stop gambling.

Online Gambling Mortgage Company

Get the right mortgage advice

Speaking to a mortgage broker can help you get the right advice that you need in order to fulfil your dream of getting on the property ladder. They’ll be able to address any worries or concerns that you may have about your spending habits.

At Mortgage Advice Bureau, we deal with people from all walks of life and we do not judge anyone's personal circumstances - we are simply here to help.

Online Gambling Mortgage Lender

Get help for your gambling addiction

Online Gambling Mortgage Application

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.