When won’t gambling affect a mortgage application? Ultimately, you need to be aware that if you’re a professional gambler, this activity is seen as a risk and could result in your mortgage being declined. Whilst you may argue that professional gambling is no different to getting a mortgage when self-employed, gambling is still deemed as a riskier business than self-employment, especially if there’s no trace of regular savings but a build-up of debt instead. Those lenders who are willing to lend you the money might alleviate this risk by increasing the interest rate and only lending a small amount of money.
That’s not to say that it isn’t impossible though. If you’re a professional gambler wanting to use your winnings as evidence that you can afford to take out a mortgage, then you might come up against a few hurdles, as this is considered far more risky than someone who has a job and gambles occasionally on the side. When will gambling affect a mortgage application? However, there is a difference between those who gamble large amounts of money on a regular basis (including those who are professional gamblers), compared to those who might put a small bet on every now and then. But if they see that you’re an active gambler, then this may go against your application. Taking out a mortgage means that a bank or building society trusts that you’re able to pay the money back. Generally speaking, gambling and mortgages do not mix well.
