There is currently 1 person viewing this thread.
These 135 comments are related to the topic:
Getting a Mortgage as a Pro Punter
Getting a Mortgage as a Pro Punter
sort by:
Show
per page
Replies: 135
|
By:
garychesterrrr 24 Mar 15 13:43
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. Spot on. Your betting account/ bank, must be separate /different from that of your 'living' expenses. |
|
By:
Would you get asked for statements if you had a direct debit going to another bank monthly, but you said it was for an ISA/savings account? You then use that other account for all of your punting transactions and your current account statements are effectively 'clean'?
|
|
By:
your need a taxable income,good credit history,permanent job.
then you have a chance. |
|
By:
it has to be done Magic an account or two with separate banks exclusively for bookmakers. Natwest called me in a few times and said this wasn't normal practice and what their A/C was designed for. Always got sorted out as it didn't in 2010 say so in T&C's. Other times they offered to upgrade a/c and access to credit facilities but I didn't want any credit linked to gambling A/C. Deposits from gambling A/C were seen as salary.
As was alluded to earlier I had a lot of actual paper statements linking to over 25 bookmakers worldwide. I had several boxes of statements when somebody needed to check them,just shy of £4.2mill deposited from betting sites worldwide over a 4 year period. The withdrawals and deposits were £3.78mill and every payment either way accounted for. In my branch they would offer me 3 monthly bond deals regularly, the staff knew I gambled and were ok, it was the Regional and above that who weren't keen. EVERY transaction was legitimate and this was eventually forensically verified. Its only turnover it isn't profit, anyhow after the forensic audits the banks were no longer keen to allow me to continue. So we diversify, its the only way or................. get a job! |
|
By:
Deposits from gambling a/c into different personal a/c elsewhere were seen as salary,they were deposited as salary and not queried by the receiving bank.
|
|
By:
so when the bank ask for employment details you say?
|
|
By:
roida, that seems to be the easiest way nowadays,ducking and diving of yesteryear is a lot harder so obv you set up a cash business and pay yourself a wage with all the relevant paperwork. If it is imperative one wants to rejoin society and get access to credit and/or purchase prop in your own name then you go to work for somebody and obtain the required paper trail. However after living so long as a ghost does one need to change? You could set up your own trading company and pay yourself as an employee with accompanying paperwork for the benefit of the banks to open personal current A/C's,close the company after 6 months but still maintain salary payments to the bank. Clearly tax is a different issue but if it means paying something to maintain your legitimacy then so be it.
|
|
By:
I didn't see the 11.24 post roida, knock up a few payslips and a letter of employment, the contact details will be valid as well if they choose to verify via phone,email or written contact.
|
|
By:
I said at my 1st post a 'straight' mortgage
if your going underhand then i need no advice  |
|
By:
I did say that seems the easiest way nowadays, the advice wasn't actually advice more of a ramble and it wasn't directed to you. You should have your own affairs in order by now, the separate gambling A/C's were the best thing I did and apart from chopping down two forests for statements they ensured my proof of income. Which was the idea and no tax to pay on gambling winnings. Always pay your stamp though!
|
|
By:
nee mortgage and pay nee stamp
very very difficult these days to pull the wool im afraid  |
|
By:
well it ensures your pension innit? Laters,dogs need a run before the sports begin.
|
|
By:
bf is my pension.
|
|
By:
Gold is the money of kings
Silver is the money of gentlemen Barter is the money of peasants Debt is the money of slaves. |
|
By:
My post earlier was meant to mean as if you do have a regular taxable income.
The question is if you sent the same amount to a different bank account than your current account, by direct debit every month so it only shows as one transaction on a statement, would you get asked to provide statements from the other account if you said it was a savings account/ISA etc? |
|
By:
quite possibly, a bank search should reveal all a/c's you hold so tinker with mailing addresses (family members). Said bank search would show other a/c but not sure if it has a/c description i.e basic,current,deposit,ISA.
|
|
By:
Magic - In my experience if the current account has enough transactions to convince the banker its your only current account he would be happy enough to not want to delve into the other,
ph - A bank search would tell the account type and balance each month, but nothing more, and no transactions, Obviously as people mention the banks would require some proof of income & unfortunately thats hard to do so there needs to be some 'thinking outside of the box'. There are however plenty of companies that knock up payslips, as someone mentioned earlier though there has to be a way these can be verified - which does get tricky, in an ideal worl the payslips tally with the cash going into the account and would satisfy some people, but others may want to look into it and contact your 'employer'! |
|
By:
thought bank search only reveals minimal detail however once discovered it depends on whether they delve as gary explained. Can't find the dog leads, must be in Mrs car.
|
|
By:
ive had the same trouble. 30 year old, got a very nice chunk saved up, rented all my life (last 10 year) I mean 75% deposit I have.
been to bank no joy. got a mortgage broker still no joy, im debating setting up a firm for 6 month as mentioned earlier pay my taxes etc for 6 month on a living what is tax free!!! I cant see another resolution |
|
By:
just win the other 25%
|
|
By:
Some possible chance about 6 or 8 years ago, even then being a bit deceitful, but very difficult now, infact practically impossible I'd say. Good luck anyway, but reckon it would have to be something underhand.
|
|
By:
when respected and established seasoned on course bookies,who have proven profitable business models, start having their credit and overdraft options restricted then as an individual punter/chancer/gambler you are not required lending material. The Bankers gambled and lost on Fred and Fanny, futures, gilts and whatever so do not want to entertain other gamblers. Do as we say not as we do!
|
|
By:
" Do as we say not as we do!"
Exactly, and who are the biggest crooks ?!!!! That Rate-fix trader caught on tape saying, "If you ain't cheating, you ain't trying." And these crooks **** the market, fixing lending rates paid between banks. And this guy Tom Hayes, the ringmaster, claimed what he was doing was not dishonest ! He is only the first one to stand trial, a total 21 bankers face similar charges. |
|
By:
jail sentences odds against? Or is somebody actually going to realise market manipulation is fraudulent? 21 x 7 year sentences, treat them all the same then go after the POCA if found guilty because their bonuses will be criminal benefit. They do it with regular cons so go after their assets and then attempt to have the Bosses in for knowing concern, joint enterprise or good old fashioned conspiracy as ignorance is no defence when dealing with millions.
|
|
By:
Inform Bank Manager/Broker you follow a bloke called Zippers tips on betfair ,this should speed things a long ...
|
|
By:
PAY CASH
|
|
By:
That presents its own difficulties, Big Boss. Estate agents can be reluctant to deal with you unless their broker can sell you a mortgage. The standard line is that they won't let you waste the vendor's time unless you can prove you have the cash, and that's not always straightforward if your money is invested in diverse places.
It's a bit like buying a motor. Dealers want to sell you the financing; the vehicle is incidental. People who want/have to buy things with cash are seen as either iffy at best or simply sad losers by the thrusting, respected professions in modern Britain, such as car dealers and estate agents. |
|
By:
dont entirely agree..my mates are car dealers and have 2k profit in a 8k car..a finance commission is a bonus.
|
|
By:
Hunty is correct
|
|
By:
Fair enough.
I bought a new Land Rover Defender back in 2008, and the dealer down here in Somerset was most upset when I got the chequebook out. Insisted I had to take the financing deal, because it was "only" 7.5% APR. I could just keep the 25k invested elsewhere, and be no worse off, he reckoned. Before I had the chance to ask where I could get 7.5% interest even in those days, he glanced at the woman I was with and suggested that she and I could perhaps use some of the money to enjoy a driving holiday together in our new car. Or perhaps taker a look at some of the possible accessories etc. In the end I had to explain that I hadn't worked for 18 years and he wouldn't be allowed to offer the loan. Oh yes he could. Half an embarrassing hour of phone calls later he had to acknowledge he couldn't, but had succeeded in establishing I was very much a second-class citizen in the eyes of the woman. |
|
By:
TELL THE BANK MANAGER ,YOUR FORUM NAME AND THAT YOUR HELD IN HIGH ESTEEM ON THE BETFAIR HORSE RACING FORUM
|
|
By:
TELL HIM ALL ABOUT YOUR NEXT 10 CERTS,AND ASK HIM IF HED LIKE YOU TO PUT SOME OF HIS OWN MONEY ON THEM
|
|
By:
Could I rely on you for a reference, Do wah?
|
|
By:
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 |
|
By:
WHEN YOU FILL THE APPLICATION FORM IN USE ONE OF THEM SUPER DELUX WILLIAM HILL PENS WITH THEIR NAME ON ,IT ALLWAYS MAKE YOU LOOK IMPORTANT,ESPECIALLY WHEN YOU ASK HIM HOW TO SPELL YOUR NAME
|
|
By:
ASK THE BANK MANAGER IF YOU CAN YOU MAKE YOUR FIRST REPAYMENT 3 MONTHS AFTER THE CHELTERNAM FESTIVAL ,AS IT CAN BE A BAD TIME FOR PUNTERS
|
|
By:
TELL THE BANK MANAGER HIS PRICES MUST BE COMPETATIVE ,OR YOU MIGHT WAIT UNTILL THE BETFAIR BANK EXCHANGE OPENS ,AS THEY HAVE THE BEST PRICES
|
|
By:
IF THE BANK MANAGER LAUGHS AT YOU TAKE YOUR STORY TO THE EDINBOROUGH FESTIVAL AND TRY AND BE A COMIC
|
|
By:
what does mortgage mean - the translation from French ???
DEATH- PLEDGE an agreement til death !!!!!!! |
|
By:
Roida is a star - he told us of his balance on here and gets involved in Mortgage discussions when he could buy a whole street in cash where he lives..
p.h pops up and tells us that he has 25 bookmakers accounts (!) I have had about 200 times that number and have given up as there is not a single alleged "Bookmaker" in the World that keeps open a winning account. I was lucky to keep going as long as I did because when I met the "Head Of Trading" at nobet£3.65 at Haydock about 10 years ago he shook my hand and told me I was a "legend" despite me keeping under the radar and never betting more than a pony each-way on my selections.. Your identities are freely shared between the various rancid outfits and your computers are corrupted.. Should be an investigation into that but it will not happen.. As regards mortgages I paid mine off but you will not get one in the present climate without documentation.. I do not live in England but when I was winning quite large sums in the dim and distant the taxman rang up and asked me about the interest that I was declaring.. (REMEMBER INTEREST) I said that I had won money on the horses and that was meekly accepted.. Not sure that I could do that now in the present climate. |