Introduction/ mortgage advice

Hi Carl,

I think you should be fine, if you have gambled a long time ago on credit cards but never missed a minimum payment then that’s the main thing. If you’ve have missed payments then these stay on your record for 5 years and therefore aren’t great. If the sites Experian, Expedia, clearscore etc have you having a good score, then you should be fine to be approved. 

It can effect you if you constantly gamble and they check your bank statements for 6 months earlier, but if you’re gamble free, you should be fine. 

All the best,

Callum

Thanks for the reply, never missed a payment so everything all good apart from me stupidly gambling, sounds positive then I will just have to wait. Thanks again 

Dear @carlharvey

Thank you for posting and sharing your story.

I’m sure that you will get some invaluable advice from other users on the forum about your query on the financial harm gambling can cause, and the implications of that.

It might also be worth you talking to The Citizen’s Advise Bureau? They offer a free service and will be able to give advice on your potential mortgage and the issue of credit scores etc. You can find them at - https://www.citizensadvice.org.uk/ .

Kind regards

Jo

Forum Admin

@carlharvey There is nothing illegal about gambling. Whether it was on a credit card or cash withdrawals, what counts is your credit score, your income and expenditures and your deposit.

There should be no reason at all for it to affect your application unless you went into arrears and hard markers put against your file but it sounds like you didn't.

Good luck.

Chris.

No missed payments at all, sounds more positive than Iv had in my head so fingers crossed things run smoothly when the time comes, thanks for your reply 

@carlharvey When I applied for my first mortgage 3 years ago I was in the exact same situation as you. A lot of credit card / loan debt but never defaulted and of course was partial to gambling and I even think my credit score was poor at the time. Anyhow, I was convinced the mortgage application would be declined but to my surprise it wasn’t and was also offered a really low interest rate of 1.4%. I would say you’ll be fine.

Im going through a similar thing now as I’m in the process of a separation with my partner and we are selling up. We are splitting the mortgage in half and I’ll need to borrow a bit more to get a new place on my own. Whilst my income is ok and on paper I can borrow what I need, my debt has got a little bit higher and my gambling has been worse over the last few months so I am worried Santander won’t allow me to port my mortgage and top it up. Hopefully that I’m an existing customer of theirs, never defaulted on a payment and will have £25K deposit for the new place then I should be ok. Good luck with yours, you’ll be fine 

Hi, Carl! I can advise you to contact <a href=" removed link " target="_blank" rel="noopener">Mortgage Advisor Newcastle with these questions. They helped me a lot in my time because I had similar questions and if I had done them myself, I probably would have gone crazy and made the wrong choice. And so, thank God, they advised me, and I never doubted them for a minute. And as for my opinion - it can affect, and not in the best way. Still, again, it's best to go to a specialist with these questions, he will explain everything and suggest ways to solve your problem.