Lotto Online transactions - Mortgage approval

Anomaly

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Hello all,

Do you think a weekly or twice weekly lotto online transaction in your bank statement would be an item that any banks reviewing your finances for mortgage approval would take into account?

I know people have told me online Paddy Power transactions etc do but not sure about the Lotto.
 
I think that €5 weekly would look a lot worse than €250 annually.
At least with PP debits you are in with a chance of PP credits. But with the lotto...


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Get rid of it. I know a personal friend who set up an account with an online bookmakers. He applied for a mortgage with his partner last year and when the bank saw this account on his statement it was a red flaged.
Even though he only used it maybe once or twice a week for minor amounts he was advised to get rid of the account and the bank would review his situation again in 6 months. Needless to say they lost the house they had originally applied for.
Any form of gambling accounts do not look favourable on a mortgage application.
 
All the more reason to have a secondary account for anything gambling related.
 
Won't the bank be aware of all credit cards and bank accounts a customer has?


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They won't be aware of any accounts in a different bank unless declared.
 
Hello all,

Do you think a weekly or twice weekly lotto online transaction in your bank statement would be an item that any banks reviewing your finances for mortgage approval would take into account?

I know people have told me online Paddy Power transactions etc do but not sure about the Lotto.

I believe it does but, regardless, why risk it - even if you were sure that you were going to apply to KBC and were a personal friend of an underwriter and, hence, knew it would have no impact?

Underwriting rules change and are you really unable to just withdraw cash at the ATM and do the lotto in a shop?
 
I probably spend an average of €10-€25 per month on lotto online so that shows on my credit card.

I have been approved for a mortgage (not just in principle) by 4 banks.
 
They won't be aware of any accounts in a different bank unless declared.

So I could have a number of mortgages or other debt accounts with a number of different banks, and I'd still be able to get a mortgage from a new bank without them ever finding out? I thought this information was shared.

I probably spend an average of €10-€25 per month on lotto online so that shows on my credit card.

I have been approved for a mortgage (not just in principle) by 4 banks.

In 2014?
 
You could have multiple current accounts in different banks and they would be unaware.

Unless the accounts are on the ICB they won't know. I know a few people who opened new current accounts so they could use bookmakers etc without their main bank knowing.
 
Get rid of it. I know a personal friend who set up an account with an online bookmakers. He applied for a mortgage with his partner last year and when the bank saw this account on his statement it was a red flaged.
Even though he only used it maybe once or twice a week for minor amounts he was advised to get rid of the account and the bank would review his situation again in 6 months. Needless to say they lost the house they had originally applied for.
Any form of gambling accounts do not look favourable on a mortgage application.

But a 2 x 20 a day smoking habit costing around €570 a month gets the banker's blessing, never mind a once a week bender in the local pub. :mad: I didn't think it was possible for retail bankers to make me feel more nauseous. If only the fools knew how easy it was to run rings around them :rolleyes:. Time's advice is spot on and I've had multiple bank accounts for years. Tell bankers what you want to tell them.
 
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