Results 1 to 7 of 7
  1. #1
    The Buzz's Avatar
    The Buzz is offline GPWA Gossip Hound
    Join Date
    February 2007
    Location
    Newton, MA
    Posts
    3,446
    Thanks
    246
    Thanked 1,400 Times in 850 Posts

    Default Online gambling affecting mortgages?

    The Irish Times is reporting this week that mortgage applications are being rejected if the applicant admits to gambling online.

    A spokesman for the Independent Mortgages Advisers Federation said that banks now regarded online betting very negatively.

    He said that while any such activity appearing on a current account submitted to a bank as part of a mortgage application would not automatically disqualify someone from being granted a loan, it was one of the criteria being applied “in a market where they are looking for any excuses” to reject applications.

    “The banks will never admit it,” said Mr Dowling, but “it is . . . being discussed . . . I don’t think online gambling is to be encouraged if people are making a mortgage application, in particular if there are regular amounts going out.”

  2. #2
    shanepeterson is offline New Member
    Join Date
    February 2011
    Posts
    1
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    One of my friend decided to apply for a mortgage loan, or even a few years ago and his financial advisers telling him to stop gambling / B365 deposit with him, so he can claim that he stopped as soon as possible. Generally do not have bank staff are pleased to this point. The second account should be useful, but you did not list all your other accounts.

  3. #3
    davenewgates's Avatar
    davenewgates is offline Public Member
    Join Date
    June 2010
    Location
    Over the Web
    Posts
    351
    Thanks
    11
    Thanked 24 Times in 22 Posts

    Default

    For obvious reason, they don't want mortgage applicants to gamble the money that is supposed to be paid for them.

  4. #4
    JoeAdams is offline Public Member
    Join Date
    October 2010
    Posts
    224
    Thanks
    0
    Thanked 4 Times in 4 Posts

    Default

    I guess the bank just did the right thing.. Using the money from a mortgaged property for gambling is not a good idea. Mortgage money are intended only for business purpose. Remember, a responsible gambler gamble only the money he/she have and will not go beyond financial limit.

  5. #5
    best.hands is offline Public Member
    Join Date
    July 2010
    Posts
    275
    Thanks
    1
    Thanked 36 Times in 32 Posts

    Default

    This case is a lot more like prevention is better than cure to me. If I own the bank where the loan will be issued from, I would truly hesitate to give an approval to an applicant that's into online gambling, especially when that applicant has some questionable behavior towards the activity.

  6. #6
    cassy is offline Public Member
    Join Date
    January 2011
    Location
    Las Vegas, Nevada
    Posts
    138
    Thanks
    5
    Thanked 11 Times in 11 Posts

    Default

    This means for a reduction to those mortgages applicants whose main reason for applying is to engage the money in gambling. We all know that a good gambler knows his limit in playing, he should know when to quit. Although these case doesn't mean that they have the chance to go out to play and be addicted to gambling.

  7. #7
    grem's Avatar
    grem is offline Public Member
    Join Date
    July 2010
    Location
    CBN
    Posts
    1,451
    Blog Entries
    19
    Thanks
    254
    Thanked 418 Times in 205 Posts

    Default

    It is probably a good thing they ask to stop people if they are really using any money on gambling

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •