Online gambling accounts affecting your chances of a mortgage

RoundTower

Lao Lao wrote: »

Seriously though, this is pretty disgracefull and as already stated is just a way for the banks to refuse to lend moeny that they don't have.

utterly disgraceful! Only the evil bastards who have been robbing this country dry for 30 years would ever stoop so low as to refuse to lend money they don't have.

NickyOD

AIB refused me a pretty a small loan last year after I had a perfect credit rating and had never missed a payment on 3 previous loans all of which I paid off early. I had a current account with them for 10 years and a credit card for 2 years.

Switched to Halifax and they had no problem giving me the same small loan despite evidence of online gaming on a relatively a new account. I don't know though if their policy is different for larger loans or mortgages.

bobbbb

Gambling wont effect your mortgage chances. More scaremongering to sell papers. Ive been gambling a fair bit online and have several betting accounts that my bank account feeds and the banks are falling over themselves to give me a mortgage.

Just call into the banks and see what they say. Dont believe everything you read.

NickyOD

bobbbb wrote: »

Gambling wont effect your mortgage chances. More scaremongering to sell papers. Ive been gambling a fair bit online and have several betting accounts that my bank account feeds and the banks are falling over themselves to give me a mortgage.

Just call into the banks and see what they say. Dont believe everything you read.

Did you not read what Jay said n the OP?

"Alas to my horror, Only this morning I receive a call from the bank stating that it is now in their lending policy to decline loan applications on the basis of my use of gambling sites etc etc."

Jayminator

RoundTower wrote: »

this isn't going to be a popular viewpoint here but so long as we have independent banks I totally support them in their right to turn down the chance to do business with online gamblers. Their responsibility is to make money for their shareholders, they do that by giving out loans to people who will pay them back. If they discover online gamblers are less likely to pay them back then they should charge them a premium or not give them a loan at all.

However if we are going to have nationalised banks and pump billions of taxpayers money into them, then their function is not to make money, it's to provide a public service. In that case they should be forced to give gamblers loans.

I am not an online gambler. My bank accounts show 2 online lodgements over an 8 month period. I very infrequently play online and only for recreation.

Your defending of these shower of irresponsible greedy thugs who as you say are trying to make money for their share holders is flawed. Have you looked at the 4 main banks share price of late.

What about the billions owed by the developer gamblers. Who the fk regulated these loans in the banks attempts to make profit for their shareholders. AIB only this week announced a 62% drop in profits and they hugely increased their bad debt loan book up to €1.8 billion (not 100% on the 1.8 bill) so go ask my hole about them offering money to people who can show an ability to pay back the loans.

Jayminator

SpencerJames wrote: »

in fairness Jay, I think you should be paying the people you owe money to back instead of buying a house. In fact think its poor form of you to post this thread when so many posters are owed money by you.

Bank doing you a favour "Lip"!

List these people please

Jayminator

bobbbb wrote: »

Gambling wont effect your mortgage chances. More scaremongering to sell papers. Ive been gambling a fair bit online and have several betting accounts that my bank account feeds and the banks are falling over themselves to give me a mortgage.

Just call into the banks and see what they say. Dont believe everything you read.

OMG please read my OP. I got a call today from the bank to say it was within their policy to decline applications with signs of usage of gaming sites.

I seriously lol @ banks falling over you to give you a mortgage. You must be a first time buyer. And if not a 1st time buyer then please list for me these banks so I can approach them

CourierCollie

I've no idea who you are Jayminator, but I'm pretty sure Spencerjames has you confused with someone else.

RoundTower

Jayminator wrote: »

Your defending of these shower of irresponsible greedy thugs who as you say are trying to make money for their share holders is flawed. Have you looked at the 4 main banks share price of late.

I do think they are irresponsible greedy thugs and despite being a shareholder I'd like to see at least one major Irish bank go under.

I still think they should be allowed refuse you a loan if they think you're a credit risk (I'd also like them to be allowed refuse you a loan if hypothetically speaking you were a tinker, or for lots of other non-PC reasons).

Are you really suggesting my thinking is flawed because the banks are doing badly? That they are doing badly because they don't give loans to enough degenerates? Do you agree with the guy who thinks it's a disgrace that the banks looked for any excuse to refuse to lend you money they don't have?

robinblinds

Jayminator wrote: »

I got a call today from the bank to say it was within their policy to decline applications with signs of usage of gaming sites.

Thats very interesting. I wonder who told them to say that?

CourierCollie

robinblinds wrote: »

Thats very interesting. I wonder who told them to say that?

Are you suggesting that this is some Government directive?

Seriously, I wonder if they'd have any problem if you just withdrew most of your pay the day it came in, spent most of it on lap-dances and coke, as long as there was no paper trail.

Jayminator

CourierCollie wrote: »

I've no idea who you are Jayminator, but I'm pretty sure Spencerjames has you confused with someone else.

Nah Collie its only a bit of banter between me Spencer James n the nut peddler. Dont be worrying

Jayminator

RoundTower wrote: »

I do think they are irresponsible greedy thugs and despite being a shareholder I'd like to see at least one major Irish bank go under.

I still think they should be allowed refuse you a loan if they think you're a credit risk (I'd also like them to be allowed refuse you a loan if hypothetically speaking you were a tinker, or for lots of other non-PC reasons).

Are you really suggesting my thinking is flawed because the banks are doing badly? That they are doing badly because they don't give loans to enough degenerates? Do you agree with the guy who thinks it's a disgrace that the banks looked for any excuse to refuse to lend you money they don't have?

I ll refer you to my opening post where I gave a lot of personal info regarding my assets, loan to value, credit history etc.

They are not refusing me a loan due to 3 or 4 gaming transactions over an 8 month period rather they are using these trivial very irregular gaming transactions as an excuse to now employ a ''lending policy'' which apparently was always there which is in fact a smoke screen to decline loans.

They should absolutley have the discretion to refuse me a loan based on me being a credit risk but in my several dealings with the banks over the years and having borrowed for several things including purchases of busineses and property to now use these transactions against a person with a 100% ICB credit rating and against someone who has never defaulted on any loan is absurd.

I would much rather them be honest and just say hey listen we dont have the money or sorry dude but we much prefer to lend to the 1st time buers market.

jbravado

I actually agree with RT on this-obviously commiserations though Jay. Im sure you will be able to sort something out.
I certainly would not to mention it to anyone though-"did you hear about your man-cant get a loan because he has a gambling problem" would be the way that its heard. I woud question the wisdom of putting it up online tbh.
I hope you get it sorted.


When I was travelling I managed to get a 2.5k over draft over the phone. They couldnt give me the loot quick enough even though my account was riddled with transactions. Different ball game these days I guess.

robinblinds

If you went in and said you want more money for your business they'd probably give it to you.

Grafter

I'm surprised nobody has linked to the article that kicked this all off.

http://www.irishtimes.com/newspaper/frontpage/2009/0304/1224242235077.html

The OP has my sympathies and I'm sure he'll get sorted, but I think he was exceptionally unlucky if his application was looked at on the day this was published.

From the bank employees point of view, with job security at an all time low, try explaining an approval of this, when you see an Irish Times on your boss's desk and know that this article is in it.

Alternatively, Boss pulled them in and told them to double check all pending applications.

Jayminator

jbravado wrote: »

I actually agree with RT on this-obviously commiserations though Jay. Im sure you will be able to sort something out.
I certainly would not to mention it to anyone though-"did you hear about your man-cant get a loan because he has a gambling problem" would be the way that its heard. I woud question the wisdom of putting it up online tbh.
I hope you get it sorted.


When I was travelling I managed to get a 2.5k over draft over the phone. They couldnt give me the loot quick enough even though my account was riddled with transactions. Different ball game these days I guess.

Hi Sammy,
tbh i dont really care if I am the talk of the ''yer man cant get credit'' crew. People in poker that know me well know this aint really the case.
I am just pointing out the hypocrisy of the banks and the excuses they now use to decline loans. I have a direct debit every month as a member of a flying club, I spend some money every year on my flying hobby... Should that impact on my loan application? Is my ability to repay at risk in case I dump a plane into the side of the sugarloaf? Should I be told to cancel this direct debit and stop flying. I have a direct debit for a gym (actually this should deffo be cancelled) so should I cancel this too.

Where do they draw the line??? Also these totalled 5 transactions over an 8 month period. Hardly the profile of your local degen..

Point is banks are now using anything they can to decline good solid clients due to the fact that they themselves are broke and not us.

Ollieboy

Hi Jay,

I'm sorry to hear about your situation and I think its more bad luck with timing than anything else, but if bad timing in not getting a loan, its also good timing on the price of the house.

I have to disagree with your view on buying the property, I don't think we've hit the bottom and this still worries the bank, I reckon theres another 30/40% to fall from current prices. Your point about people taken property of the market is true, but as these house hit negative equity, people will panic and sell. As for PR by the banks, there in the high court everyday taking homes away from families and nobody cares. Most families are just walking away from the houses and handing back the keys. This problem is going to get a lot worse and I reckon you'll see low house prices for 5 to 10 years.

So in the current market cash is king and I would keep all cash I could available as you might need it to get out of this country in the long run. It would also be a bad time to come into money as its impossible to know were to put it as nowhere is safe.

Also on the banks refusal. They currently looking for any reason to refuse loans. I work in a industry were bank credit is critical and they have wipe out that industry in 18 months with massive job losses. Currently the banks will not lend money to any foreigners and most of the banks will not give car loans for 4/5 years. The banks have been involved in cash management for the last 18 months, so that should tell you enough as they should have the cash. The effects of this are now been shown in every industry, even the government are struggling to find cash. In short term the country is **** and buying a house is not really a good idea unless you have a state job, or a lot of cash. I personally think if you loan ratio had been closer to 50% you might have had less hassle.

Finally when they see these transactions there not stupid, they know casinos are a cash industry so anything going through bank accounts would set of alarm bells. It wouldn't been hard to find your name all over poker sites in the last 2 years and the banks do have google too and do use it. Another reason to be careful what you post on blogs etc. If I remember correctly you played the last EPT in Dublin which was a 8k buy-in, that would scare the crap out of any bank. They just wouldn't understand.

From reading your posts your angry and have every right to be, but direct it at Cowen has he was Minister of Finance and this problem happen under his watch. Of course hes now the boss and got reward for doing a **** job. I'm sure like most people you vote FF in the last election and we got the government we deserve.

If I was you I would head to my local FF TD office and ask him to resign and collect his P45, that his goverment and there Galway tent have bankrupt our country and there all gulity of treason along with the banks and developers. There all scum but Irish people will do nothing about it and they'll get away with it.

End of my political rant....

Again sorry to hear about this Jay, I know how you must feel with a new young family. But rent for the moment and hold your nerve.

Ollieboy

Also the point asked about 2nd accounts etc, the banks have the power to do a client search which means they can find any account you hold with any Irish Bank/Credit company, similiar to what a auditor does but with more power. If you failed to declare a account or refuse to hand over cc statements, than don't even bother applying, that was the same rule during good and bad times.

Mortage brokers are always a good tool to use as they can present your details in a manner that the bank want and understand the banks lending conditions etc.

zuutroy

I have no outgoing gambling transactions from my bank, but my RB every month does come from 'Everest Gaming' on the statement. Do they frown on incoming monies aswell? I've heard the one about saying that you do work for them or whatever, but is there a possibility that this could set off aarm bells with the tax man?

NickyOD

zuutroy wrote: »

but is there a possibility that this could set off aarm bells with the tax man?

Not unless you're audited and physically show the statement to the tax office yourself.

jbravado

Jayminator wrote: »

Hi Sammy,
tbh i dont really care if I am the talk of the ''yer man cant get credit'' crew. People in poker that know me well know this aint really the case.

No I am not talking about people involved in the poker world-I mean norms-everyday people. They would not hear 5 or sick transactions they would hear "fiendish gambing addiction".

tylerdurden94

Thank god you didn't do this before you had the kid, when you were out 5/6 nights a week, gambling your brains out :pac:

Sorry to hear your having trouble getting this sorted, i understand wanting to get you and the missus and the little one sorted and set up a nice home, but as some have mentioned maybe it might be good to give it another 6 months to see the house prices dropping more. (hopefully that happens)

But whatever you decide to do or whatever falls your way i do hope it works out all the best for you and yours.

Brainz

lads im a financial advisor and over the last number of weeks i have noticed that a couple of mortgage cases have been declined due to online gambling.

the online gambling though wasnt a tenner here or twenty there - i'm talking a few thousand here, credit card maxed out there with PP accounts etc.:eek::eek:

if your a small time gambler, like myself, dont take this thread out of context but if you are a big time gambler and considering buying a house then i think its time to cut down on the gambling as the banks underwriters would ask themselves how far would this go and how high a risk are these clients -

would you loan 300k to a compulsive gambler? i know i wouldnt !!!

Ace2007

Brainz wrote: »

would you loan 300k to a compulsive gambler? i know i wouldnt !!!

I would if he came in with the following:

Jayminator wrote: »

It is a 70% loan to value application with other added security. I have an 18 year Irish Credit Bureau credit rating history which was 100% clear and in good standing. I have borrowed on 7 different occasions over the last number of years and so on so on.

Jayminator wrote: »

I have repaid every loan etc etc on time so I dont know how the bank can use this against me.

carfax

Ace2007 wrote: »

I would if he came in with the following:

Especially when its not your own money

__________________________________

Jay, the situation is terrible for you at this moment in time; but I think in the long run you will be a lot better off. I think the posts By El S and Ollie are especially good (with regard to the value of the property and their advice).....I think the whole banking system is going to have to change to a point where far fewer people/businesses rely on credit, or in a totally different way. I'm no expert but I definitely think we are only 15 minutes into the minor match as regards the financial crisis etc.

Putting my estate agents hat on (not doing that very often at the moment );
I've seen wives and families fall in love with properties that they want to buy, over the years.... the most important thing is, as already mentioned in an earlier post, to try to keep an objective viewpoint....If things go pear shaped for you on this one, another house WILL come along, no matter how long it takes.

In my very simplistic view: Now that they are holding off on lending, and (population forecasts are not as high as they were for the next few years apparently in Dublin) then its a no brainer as to whether you would like to be repaying a mortgage on a €1,000,000 house when if you hold off a while now, you might only have to repay on €500k or less....I don't care how nice a house it is

Stephen.

RoundTower

so you're really just mad that the banks are lying to you about their reasons? Really? You've dealt with banks for the last 20+ years and you are only now angry that they are lying scum?

DAMO72

Jay i wouldn't worry about it one bit. Over the last six months nearly all the banks and credit card company's and car finance people and milkmen and and children have applied to me for money, and i have refused all their application's without discrimination.

cooker3

Would banks care about Neteller and or Moneybookers transfers?

strewelpeter

This is nonsense.
You have done nothing illegal or wrong in any way. The cretins in the banks are simply trying to justify their reluctance to do business of any kind.
The irony of these fools declining solid business because the borrower has used some of their own money to gamble within their limits is really quite funny. I guess they would have preferred if you were taking bets that were leveraging at 25:1 mortgages for properties built for 90K and sold for 450K to Hairdressers in Arizona who earn 25K, or maybe maybe betting on Irish property at 50 Million an acre when everyone knew they were drawing dead, i.e. buying Bank shares.

Over the next few weeks there will be of some of money the Bank of England are printing flowing back into the system and if you are still interested in buying you will find that it pays to shop around.