If you are working with a mortgage professional such as a loan officer, they will be able to guide you on the bank statement documentation to send your lender. Many times you may only need to send the lender the bank statements from your main account and not the entire collection of statements from your various accounts.

Jun 20, 2018 Take a break from gambling for a short while and work on presenting your bank account in the best possible light. Your mortgage broker can help you as there are some lenders who may ask for fewer bank statements than others or indeed some may not even ask for them at all.
Mar 27, 2018 The Bank Statement Mortgage changes all of that. With guidelines changing, we are now the first mortgage bank to offer self-employed individuals the flexibility of a bank statement mortgage, where we check your bank statements for mortgage viability.

Mortgage application - gambling transactions

Wednesday 12th April 2017

Longer term Pher..Throwaway account. 31yr male. 10 years ago I had a little gambling addiction. Blackjack, poker, sports, trading you name it. Swung between £100k up ('I'm a genius!') and £50k down ('I'm a complete piece of ****!'). Naturally ended up about £40k down after several tumultuous years and thought I'd better sort myself out. Which I did. 10 years later - good job in finance (of all sectors..). Salary of £65k, and I hadn't gambled so much as a penny in nearly a decade.
That was until last week. I had a relapse. It started with a £5 bet on something insignificant. 12 hours later I was £16k down on online blackjack. I guess I could afford it, technically, but it was still an outer body feeling. Clearly the addiction never leaves you, it just lies dormant. Now I know this .. I've put all the measures in place to stop it happening again. Self exclusion from everywhere and so on. Even went to a support group. I'm not looking for advice on this, or any discussion on gambling. My income is fairly high for my age and I just wasted a bunch of it on degenerate activities that I've now vowed to put back in the box they sat for 10 years - permanently. I guess there's a personality flaw in there somewhere (blame the childhood), but I feel I can manage it. Anyway..enough background.
My partner wants to buy a house with me. Jointly we earn £90k and have no debt aside from car leases, so I assume the affordability criteria wouldn't be a problem if we were looking for average priced house of about £300k (N. Ireland, not London..). We have a deposit of £30k lined up. We haven't missed any type of credit payment in years.
But I am worried that my relapse and slew of transactions to various bookmakers over that weekend will cause us a problems during the mortgage application. My partner knows about my past issues but does not know about the recent relapse. She would not be impressed although I might have to come clean....
I've read many banks will ask for 3 months statements and understandably look dimly on gambling transactions, especially ones over £10k! If that's the case, we'd need to wait for at least 4 months before attempting a mortgage application. Is that all I need to be concerned about? Do all banks ask for statements? Do I need 'clean' statements or would I have a chance of getting them past an underwriter because the rest of our application was, in theory, A+? At what stage would bank statements be requested - up front during the AIP stage or only way down the line?
Of course, I would be happy to simply wait 4 months but my partner is super keen to press ahead with an application. Bad timing! Is it own up time or can I squeak it?
Yes I'm a moron.. thoughts appreciated...
TLDR - how do large gambling transactions affect a mortgage application

Wednesday 12th April 2017

I can't be of any real help but I did meet the bank earlier last year and it came up in conversation that betting is definitely frowned upon. Too many meals out or visiting the ATM too often were also mentioned which surprised me.

Wednesday 12th April 2017

We've had two applications declined due to gambling transactions...........they looked over the three months statements, totalled the payments, averaged that over three months and inserted that figure into the affordability calculations in the same way as if it was an ongoing loan payment.
If the income had of stood up to that, they would have been accepted but none of them did. The gambling itself isn't a problem........it's the perceived effect of it, if that level of spending continues.
You need professional (mortgage) advice............

Wednesday 12th April 2017

Thanks for the info. I'm pretty sure extrapolating 16k a month into continue spending doesn't look so great
This only applies if the '3 months statements' holds though. My colleague through Natwest was only asked to provide last months statement, and her partner as the lead applicant provided 3.
1 months statements and I'm a model citizen :/

Wednesday 12th April 2017

Thanks for the info. I'm pretty sure extrapolating 16k a month into continue spending doesn't look so great
This only applies if the '3 months statements' holds though. M

Gambling On Bank Statement Mortgage