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
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.
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.