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How have the pro's on here gone about securing a mortgage? Serious answers appreciated!
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No chance.
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We will now get to know the real pro's.
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you will struggle to get an offer, unless you stump up at least 60% deposit well that used to be a starting point. The financial institutions now look down on gamblers,using their plastic to gamble hurts your credit worthiness. For current mortagage apps the criteria is based on certainty,certainty to earn a wage and all of your outgoings. It has certainly tightened up since Spring 2014. The answer from most people will be pay in cash as its perceived professional punters are always swimming in the stuff.
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In ireland its very very tough
I spoke to mine a few years back...naturally enough all my credit history and all was fine but the deposits/withdraws from gambling sites is always a red flag..my mate who plays poker full time had a similar issue but he was able to get around it by using other people to transfer to his account and also using third party sources. Another mate of mine, who was single at the time wanted to snap up a house for 200k. He had 150k deposit but this deposit had come from gambling. He was not a full time punter and had a good job. He was declined too |
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This time last year me and the girlfriend set on our way to get a mortgage. 33% was the deposit and her Dad who recently just retired from the bank we went to, got us a meeting with head of mortgages. A friendly FAVOUR.
We had an informal meeting... laughing and joking and all and he PRE APPROVED us for a mortgage 'away yous go and get your house and we will tie this up' So we had a few houses in mind and arranged a meeting back wither yer guy. I at the back of my mind was worried about them checking my bank account activity. I still work but solely so i can bet. Will yer guy be alright once he sees the activity as my bank has refused me overdrafts, loans or credit cards in the past due to my 'gambling activity' on my account. Anyway we go for the official meeting.. hes asked us for 3 months statements , id and payslips for 6 months etc... his jaw drops when i set down a war and peace stayle document. 3 months bank statements with 140 page. Things started to go extremely wrong. He shat himself.. you could see that 'pre approved' bollox he was on about was being worried about. He didnt even let us speak and he passed us over to his head of department. 90 minutes of absolute GESTAPO style interrogation. My girflriend got asked for about 3 minutes to explain her account. AN HOUR SOLID was spent by me explaining what exactly was my extent of my gambling 'im semi pro' was the probably the height of it hahah We got marched back in to head of mortgages and he there and then said because of my gambling activity , even though i was in profit or whatever the figures were just to big on the account andf i was too much of a risk (never missed a rent or a bill in my life due to gambling) didnt matter...journey ended here...didnt matter about 33% deposit...he wasnt taking the risk. So as we left you can imagine what the Missus thought of me and my antics...ive only ever been straight with her ("horses come before you in my life dear" was the choicest thing ive said) but i was the absolute DEVIL... i felt horrific and also angry that the stupid wank bank couldnt see sense. We had to ring and cancel our second house vierwing with the estate agents and explain it was off. "come in and see our mortgage advisor for 10 mins" that very night we waltz in... the guy looks at all the documents...sees the deposit and goes 'that bank is in the dark ages, let me try something' Entered all the crap into Halifax and ran a credit check. BANG 'There you are you are clearly very good with money' hahah we left 30 mins later with our house. Im sitting here now (still semi pro) Its all in the credit check. Ive been trying for years to get it together to go pro..near misses galore but randomly...if i had have went pro 3 -4 years ago i wouldnt have built up enough credit and id still be renting a **** hole. All about the credit check. |
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If you need a mortgage then you should focus more on your punting and less on where you can get a mortgage
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ooh, listen to billy big boll0x here
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Its the best advise I can give. You wont get a mortgage declaring yourself as a pro gambler but you will avoid the need for one if you work at your gambling
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possibly easier to accrue £200k than mortgage it however jonjon seems to have proved otherwise. It is all about the credit points but continued use of debit cards to gambling sites downgrades you. Whether that is official policy or individually based I don't know. The new mortgage rules require guaranteed earnings, perhaps jonjon your wage in your day job was sufficient to acquire the mortgage? Without a separate guaranteed income a punter who earns only through winning returns is seen as a no no. Being a full time punter only for income is a lifestyle choice but you put yourself outside of the financial mainstream.
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I just told them my name and they begged me to take the money
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only joking
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I don't need a morgage i paid outright
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No i earn absolutely jack shyte. Definitely wasnt my wages plus ive only been working full time for 6 years and its a very lowly paid job.
I do have fortunes coming out a month direct debits.. phone ..tv..other subscribtions that have went out like clockwork every month for 6 years so i assume i built up lethal credit cos i was blacklisted in my early 20s cos of a capital one credit card debacle. The house was gone from our grasp because of my gambling...then 2 hours later walking out with the house solely cos of a credit check? ..i havent dwelt on it but this happened so id bet (har har) on anyone doing the same.. go Halifax maybe? |
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I went in to my local bank....had a monkey....the house was worth 2 million.....the guy behind the desk said to me....what do you do every day?....I said im on betfair.....he said is that the place where everyone wins?....and are you on the forum posting your bets?.....once I said an emphatic yes to both.....
He said heres the 2m for the house and another couple of hundred grand to tidy it up.... It was all done and dusted in no time..... |
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It was o so easy 12 years ago. I took out 2 mortgages in the space of 12 months (Charcol ) on the strength of earnings from gambling but I wouldn't fancy my chances of repeating it in the current climate.
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I've got a residential mortgage and 2 BTL mortgages all with the same bank with over half a million equity - I tried to get another BTL mortgage with the same bank with a 40% deposit but was turned down for it because I had gambling transactions on my account so was seen as too big a risk
what a pi$$take being told by the biggest gamblers of the lot that I'm too big a risk ! |
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I don't know how they don't give gamblers more mortgages.....everyone wins.....
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I think first and foremost you need a designated 'gambling' bank account, so that your main account (Any wages, household bills) isn't full of gambling transactions, set up a regular standing order from your gambling to your household account so that theres a record of regular payments in.
Then its a case of making sure you have a good deposit, get some payslips knocked up ; ) and blag your way through the mortgage application! ideally with the bank who holds your household account. Also definitely looking at shared ownership etc as that first 'foot' on the ladder, always much much easier to get a second mortgage once you have a record of paying the first! |
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Why tell them you're a pro punter.Say you're a systems analyst.You don't have to say it's racing systems.
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not sure these things are done on a 'word is my bond' basis these days, artie. they prob going to ask for some, you know, actual evidence
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I used a mortgage broker.He said I was financial adviser !No problems.
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I was worried too but, I got my first one last year as a first time buyer, unless you have CCJs etc. you shouldn't have a problem and have no other outstanding loans. I even had Betfair deposits in my statements, they queried but no that bothered.
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THESE THREADS ON GETTING A MORGUAGE ,AND MENTIONING YOU GAMBLE,ARE MY FAV .,JUST PUT YOURSELF IN THE BANK MANAGERS SHOES,WOULD YOU LEND THOUSANDS TO ANY ONE OF YOUR FRIENDS WHO GAMBLED ,NEVER MIND A STRANGER ,
THE BANK MANAGER WOULD THINK YOU WERE THICK JUST TO ASK. IT DOESNT MATTER WHAT YOU TELL THEM ABOUT HOW GOOD A GAMBLER YOU ARE AND THAT YOU CAN PROOVE YOU MAKE MONEY FROM GAMBLING ,THEY WILL JUST LOOK AT YOU LIKE YOUR FROM ANOTHER PLANET AND YOU MIGHT WELL BE IF YOU THINK A BANK MANAGER WILL LEND GAMBLERS MONEY |
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THESE THREADS ON GETTING A MORGUAGE ,AND MENTIONING YOU GAMBLE,ARE MY FAV .,JUST PUT YOURSELF IN THE BANK MANAGERS SHOES,WOULD YOU LEND THOUSANDS TO ANY ONE OF YOUR FRIENDS WHO GAMBLED ,NEVER MIND A STRANGER ,
THE BANK MANAGER WOULD THINK YOU WERE THICK JUST TO ASK. IT DOESNT MATTER WHAT YOU TELL THEM ABOUT HOW GOOD A GAMBLER YOU ARE AND THAT YOU CAN PROOVE YOU MAKE MONEY FROM GAMBLING ,THEY WILL JUST LOOK AT YOU LIKE YOUR FROM ANOTHER PLANET AND YOU MIGHT WELL BE IF YOU THINK A BANK MANAGER WILL LEND GAMBLERS MONEY |
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Banks dont like gambles.
Tell em you cheat and they might feel an affinity since thats all they seem to do too. |
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THE BANK MANAGER TAKES 50 % OF WHAT YOU SAY WITH A PINCH OF SALT ,AND THE OTHER 100% OF WHAT YOY SAY AS BULLSH*T
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Thats about the size of it.....what kind of a tool thinks hes going to get a mortgage if hes telling the manager hes handy at the ponies.....
You could say the same kind of tool that has himself convinced that hes actually a winner....like 99% of the prixx on here.... |
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Just to show how things have changed :
When the first PEPS came out many many years ago you were allowed to invest £6,000 / financial year. My wife and I went to the old Northern Rock Building Society to see their financial adviser (Legal & General). It was the end of March so we were able to invest more than £6,000 each, we invested £20,000 with promises of great riches. After the meeting the wife and I went for lunch then I decided to call in at the bookies before going home, lo and behold the financial adviser who we'd just handed over £20,000 was in the bookies backing like a whirling dervish on the dogs, I was horrified. Within 12 months our £20,000 was worth £12,000. We didn't panic and after a few years we had recovered our losses plus. We then transferred our money to Gartmore and Invesco and have seen the initial investment nearly treble in value. |
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^^^^^^^Yet another winner^^^^.... Nobody loses on here no matter what they do....
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Nice one paulie.
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lovely tale holywell - classic imagery
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et paulie
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You finally got a response from all your ****. Nice 1 Paulie!
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Presumably paulie is a consistent loser,and believes " if I can't do it nobody can ".
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Werbie is correct.
I was self-employed for a couple of years at the end of the 1980s, then stopped taking on work and went racing every day instead in 1990. Then one Sunday afternoon in 1992 I was walking into Asda when some financial-advisor woman stepped in front of me asking whether I needed advice on a pension. Not likely, I replied, but could she help me get a mortgage? No problem. I had 40k of winnings as a deposit on a £92,500 house and she filled in the form, stating I was self-employed, with an income she reckoned was plausible (in reality I'd had none for 2 years). The loan came from the Bank of Scotland without a hitch. Even in 2000, when I'd paid off the mortgage, but needed a bridging loan to move, I contacted the Bank of Scotland and they said, you don't want a bridging loan, we'll give you a new, 6-figure mortgage. No questions asked, nobody was interested in whether I was employed or not. Now, after being cleaned out by a bird I lived with, and after 25 years with no income, I wouldn't waste my time even trying. The Mortgage Market Review makes the size of the deposit irrelevant. As ph says above, if I want to trade back up to the sort of home I had when I met the bird in question, the only option is to accumulate a 6-figure sum and buy outright. But at these prices no house is worth the freedom 6 figures in cash can offer, especially if you're a long-term full-time punter and consequently no longer employable. |
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was the financial-advisor woman, who stepped out in front of you, the one you set up home with?
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no-one in the current climate will get a 'straight' mortgage without a taxable steady imcome.
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yes once upon a time you could self cert yourself after chucking a monkey at a reputable (or not) financial advisor/mortgage consultant, it really was that simple. Not all of us have had proper jobs and salaries unless its a business we set up for cleaning purposes. We don't all want the restraint of full time work as an employee,it takes all sorts and however you earn(ed) your coin is your affair.
Roida is correct about straight mortgages since last Spring (I alluded to this earlier) and screaming is also correct in that realistically those of us who have done it as ghosts for years will struggle to gain meaningful employment outside of setting ourselves up in something to do with food or property. In each case we must have access to funds because nobody legal is going to lend it to us. And screaming a six figure sum is only a bad summer or winters loss. Better to get your roof paid for even if its £30k for a barge. |
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Different woman, SPOT. Lived with her for 10 years, things not going that well, thought she might be feeling insecure because I owned the house, so I transferred it into joint ownership. A few weeks after that she presumably realized what an attractive woman she had suddenly become and realized she could do a whole lot better than some grim old PROPUNTER. She announced she wanted to split up and that she'd consulted a solicitor who confirmed I either had to sell the house and give her half the proceeds or I had to buy her out. Because of the rise in value of the property there was no way I could find that sort of money, and mortgages had become unobtainable for me.
Yes. I know. "I am a recovering mug." The problem all PROPUNTERS face compared with 20 years ago is that so many of life's basics are now priced up not in terms of cash, which we can get hold of, but in terms of debt which we can't. Cars, phones, accommodation ... they're all bought with loans. A house used to be 3x main income + 1x secondary income @ 10% over 25 years. Now it's 4X joint income @ 2% over 35 years. I can't compete with that. Lousy, old-fashioned cash is worthless. Debt is the only currency. Having said that, ph is absolutely right about having some sort of roof over your head paid for and belonging to you, so I did buy and restore a minute, ancient but relatively very cheap house with a decent garden in the sticks which I share with the dog. You need that sort of background security to get through the bad days, weeks ... hell, even decades betting for a living. |