6 minute read 
It is still possible to get a mortgage if you gamble for fun or for a living. In this article, we'll talk about how gambling might affect your application for a mortgage, when it might be too much, and what you should do if you make money from gambling. 

How can Gambling affect a Mortgage Application? 

As part of applying for a mortgage, your mortgage adviser will look at your finances to make sure you can afford the loan. This is to figure out how much you have going on and if you can afford the monthly payments that are expected. Mortgage brokers and lenders need to know how much money you make and how much money you spend. They may also check your credit with a reference agency to see if you have bad credit or have missed payments. 
For income, they will want to see proof of your job and salary, as well as any other income you may have, like rent or dividends from investments. This could also include money from from gambling. When it comes to outgoings, the adviser will want to look at all of your costs, such as rent, utilities, household costs, and car payments. A company like Experian will do the credit check, so it makes sense to check your credit score to get a general idea of your credit record before you apply for a mortgage. 
If you have a history of gambling, it could hurt your application for a mortgage in a big way. But this varies from one lender to the next. Many lenders don't mind if you gamble occasionally for small amounts, but others may reject your application outright even if you only gamble occasionally, let alone if you lose large amounts of money on bets more often and it's affecting other parts of your life, like paying your bills or mortgage. We know which lenders are more likely to work with you, so we can help make sure you have the best chance of getting a mortgage. 
Lenders will want to know: 
How often you’re gambling. 
How much you spend on gambling. 
Your winnings and losses from gambling. 
What forms of gambling you pursue. 
If you’ve been gambling recently. 
If you also have a bad credit rating. 
With all of this in mind, it is still possible to get a mortgage even if your bank statements show that you gambled. The key is to work with a mortgage expert who can help you find the right lender.. 

When if Gambling viewed negatively? 

Again, lenders have different levels of willingness to take risks when it comes to gambling. Some lenders will look at how often you bet as part of the review of your ability to pay. They'll look at how much you spend on gambling in relation to how much you earn and how much you spend on other things. 
Some lenders are willing to take into account a budget for gambling if you can show that you are in control of it and that it can be paid for in the long run. Other mortgage lenders will need an underwriter to look at a gambler more closely to get a full picture of the person's risk level. 
The most important word here is "sustainability." It's important to be able to show that your gambling stays within a set budget, doesn't affect your ability to pay other bills or expenses, and doesn't change the way you live. If you can do this, you're more likely to find a mortgage lender who will approve your application with the help of a specialist broker like Reeds Financial.. 

What is I withdraw cash to gamble? 

Whether you use your debit card or withdraw a lot of money to gamble, the lender will still want to know how this money is being spent and what it says about how you spend and how stable your finances are. 

What is I withdraw cash to gamble? 

Ways to improve your score:. 
Register on the electoral roll at your current address. This helps companies figure out who you are. 
Create a credit history. If you don't have much or any credit history, it can be hard for companies to give you a score, which can make your score go down. You can build up your credit history by taking a few simple steps, which is good news. 
Every month, pay your bills on time and in full. This shows lenders that you are a safe bet and that you know how to handle credit well. 
Don't use up too much of your credit. This is how much of your total credit limit you have used. For example, if your credit limit is £5,000 and you've used £2,500 of it, your credit utilisation is 50%. Most of the time, a lower percentage is seen as a good thing, and it should help your score go up. To help your Credit Score, try to use no more than 25% of your available credit. 
Once your score is where you want it to be, here are some tips for keeping it that way: 
Limit the number of credit applications you make. Don't be tempted to make too many in a short period of time, as this can make lenders think you are too dependent on credit and a higher risk. Your credit report will show a hard search for each application you make. Companies can see this, so it's best to apply over a period of time. 
Close accounts you don't use. If you have access to too much credit, lenders might think you won't be able to handle any more. 
Pay your bills on time. Accounts that are late or in default will hurt your score. When you're late on payments, your account is called delinquent, and when you've missed several payments, your relationship with the company has broken down. 
Don't borrow more than you can pay back. If you have trouble paying your bills and end up with CCJs, IVAs, or even bankruptcy, these things will stay on your credit report for up to six years and hurt your score. 
Watch out for people who try to scam you. Their actions could really hurt your grade. So, try to see if there are any strange things on your credit report. 

Next steps 

If you have a history of gambling or if your mortgage application was turned down in the past because of gambling, you should talk to a professional before looking for another mortgage provider. 
You can speak to one of our friendly mortgage consultants now on 0330 128 0989 or Request a Callback. 
Your home or property may be repossessed if you do not keep up repayments on your mortgage. The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK. Reeds Financial is a trading style of Reeds Financial Limited which is an appointed representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority. Reeds Financial Limited is registered in England and Wales no: 12656133. Registered address: Reeds Financial Limited, Innovation Centre Medway, Maidstone Road, Chatham, Kent, ME5 9FD. A fee may be charged for mortgage advice. The exact amount will depend on your circumstances. 
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