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Does betting affect mortgage applications?

Most will be concerned that betting and gambling is going to have an effect on your mortgage application. The reality is that whether you’re a recreational, or a professional gambler, you should still be able to get a mortgage relatively easily.

In this section of essential MORTGAGES, we consider does betting affect mortgage applications and what impact it can have.

Gambling stats in the UK

There are many different types of betting and each of them has a different potential impact on your mortgage application. Gambling transactions can range from professional sports betting to buying a ticket for the National Lottery.

Here are some of the key numbers for betting and gambling in the UK in 2022 according to

  • Over 43% of Britons gambled in March 2022 at least once
  • More than a quarter (27%) have played the National Lottery in 2022
  • In the UK we spend on average £2.60/week on gambling (over £135/year)
  • Revenue from gambling in the UK in 2020 was £14.1 billion
  • The National Lottery donated £1.6 billion to causes in 2018/2019

Gambling and betting are very common pass times in the UK and mortgage lenders are generally not too concerned about this type of activity.

How does betting affect a mortgage application?

It is fairly common for mortgage lenders to see small amounts of betting or gambling activity on bank statements. Some lenders are more accepting to betting than others when assessing your mortgage application.

Some of the main things that lenders will be looking for are:

  • How frequently are you paying in to your betting accounts?
  • How much money are you spending on betting?
  • Are you spending more on betting than you can afford to?
  • What are your earnings from betting or gambling?
  • Which type of gambling or betting do you do?
  • Do you have a history of bad credit?

All things will be taken in to consideration and where there are red flags then you might find that lenders are less inclined to offer mortgage approval.

The positive is that there are usually a number of options available to people looking for a mortgage who take part in betting. There are even some lenders that will allow you to use gambling income as part of your application.

Why should you get expert advice?

  • Have you had a mortgage application declined or refused previously?
  • Your last 3 months bank statements will show some gambling or betting activity
  • You gamble more than £200 per month or you spend over 10% of your monthly income on betting
  • You have multiple betting accounts that you regularly pay in to

For any of these you should speak to one of our team of betting mortgage experts to help with your mortgage application.

It’s important to get the right advice to help you to get the best mortgage rates and deals, whether you’re a professional gambler, or just for occasional betting. You can save time by avoiding applying to the wrong lenders, which can also affect your credit score and overall credit report, and thousands of £’s every year on the repayments on your mortgage.

Our fully qualified mortgage experts will help you to find the best deals for betting and gambling.

What is classed as ‘betting’ on a mortgage application?

Most mortgage lenders have similar criteria and will class the following as gambling or betting:

  • Buying Lottery tickets
  • Bingo
  • Scratch cards
  • Online gambling sites (inc. sports betting and poker)
  • Bookmakers
  • Casino betting and slot machines

Lenders will look for common names and betting brands on your bank statements to identify betting activity. High levels of betting or gambling and regular activity will flag on lenders systems as being higher risk or will be a concern.

Each application for a mortgage with betting will be assessed individually and lenders have a different attitude to this type of risk.

How much betting is too much for a mortgage?

Each lender has their own limits and criteria when they are assessing a mortgage application with betting. Most mortgage lenders will be looking for the amount of money that you spend on betting and how frequent that is.

The other key point to consider is your ratio of betting relative to your monthly income and whether it is affordable. You might think that you don’t spend much on betting based on the amount that you earn every month, which can vary from lender to lender.

Mortgage lenders will mainly be looking for well managed gambling or betting activity that is affordable for the applicant. Even if your betting is affordable, there are still concerns from lenders if it is too frequent, purely because of the risks of addiction.

Generally lenders will consider the following gambling to income ratios:

  • Under 5% of your Gross income: LOW RISK
  • 5% to 10% of your Gross income: MODERATE RISK
  • Over 10% of your Gross income: HIGH RISK

There are options available for each of these areas but it is usually best to speak to an expert to get the best mortgage rates.

What happens if I’ve been refused a mortgage because of betting?

It is also fairly common for people to apply for a mortgage and for the application to be declined because of betting or gambling. Some lenders simply don’t accept frequent or excessive betting and will refuse a mortgage application.

The key thing to remember here is that it’s not the end of the road and you will often still have a number of options.

Some of the key points to consider if you’ve had a mortgage declined because of betting:

  • Be careful with making too many applications because multiple credit searches can be damaging to your credit score. Many people don’t know that having numerous credit searches within a short period of time, especially from mortgage lenders, is bad for your credit score.
  • You still have plenty of options even if you’ve been refused a mortgage in the past, and we understand how frustrating it can be. Some lenders are far more flexible than others and there are usually other options.
  • Speak to an expert to get the right lenders for your individual needs and your circumstances. There are lenders out there for you and our experts will match you to the one that is best for you.

Does matched betting affect your mortgage application?

The levels of popularity of matched betting has dramatically increased in recent years. There are people from all areas and lifestyles that are getting involved in matched betting. We are also seeing people who are asking ‘does matched betting affect your mortgage application?’.

The simple answer is, NO matched betting should not have a major impact on your ability to get a mortgage. Technically, you should be able to get a mortgage if you regularly take part matched betting, depending on the levels and frequency of this activity.

Best mortgage lenders for betting

We have a carefully selected panel of over 50 of the UK’s top mortgage lenders, including the main high street banks and building societies.

It can be difficult to know which lenders are the best ones for betting or gambling and how to get the best deals. Our team of highly trained and fully qualified mortgage experts will help you to save time on your application and money on your mortgage repayments. We can help you find the perfect mortgage for your needs whether you are a first time buyer, looking for a buy to let deal, or simply after a traditional mortgage deal.

Our mortgage lenders for betting include:

  • Accord Mortgages
  • Barclays
  • Halifax
  • HSBC
  • Natwest
  • Newcastle Building Society
  • Santander
  • And more…

The best mortgage lender for you will be based on several different areas such as:

  • Type of mortgage
  • Mortgage deal
  • Credit history
  • Income and income structure
  • Loan to Value (LTV)

We will take the hassle and time out of getting the best deal from our panel of top lenders. As top mortgage brokers authorised and regulated by the Financial Conduct Authority, we are highly qualified to offer expert mortgage advice.

Useful resources

BeGambleAware – Finding the right support

SkyBet – Our simple tools to help you gamble safely

NHS – Help for problems with gambling

Gambling Commission – Organisations that can help

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