Buying A House?

  • If like me, your matched betting profit is going towards buying a new pad, word of advice. You need to have clean bank statements going back six months. By clean I mean they shouldn’t show any evidence of gambling or money debits to bookmakers.

    I’ve received this advice from two high street banks and my own building society. My intention was always to retire from this once I hit my target (which I am very close to) and let my accounts cool off from bookies but I didnt realise it would have to be for six months.

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    picnic29 2

    I had no issues with this, it was never spoken about but can see it could raise eyebrows.
    I had my unibet account frozen today and only had 50 squid in it which they took.
    I am now closing all my accounts apart from betfair due to this.
    Good luck with the purchase.

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    RyanB 11

    Don’t you only need to show bank statements going back 6 months i.e to show your income etc?

    I’m pretty sure you can just open up another bank account and do all your gambling from that bank..that’s what people have said to me in the past I think someone mentioned it on another thread also. Guess for me I won’t be buying for a couple of years still so don’t have to worry yet!

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    steveo 1

    Oops. We’re planning to move in the summer, too late now to open new accounts etc. Wonder if it matters if your staying with the same lender.

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    Chris 18

    Depends on whether you are asked to provide bank statements for buying again. I’m in generation rent so this will be a first time buy for me and checks etc are a lot stricter.

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    Tony 11

    Having a completely separate MB bank account is clearly the best course of action. Depending on when you intend to buy @Chris, perhaps you should open one asap and start using it now to reduce the 6 month break you are talking about having to take.

    If you don’t mind me asking, what is your retirement target amount? Totally understand if you don’t want to say 😉

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    Chris 18

    I have no problem taking retirement from this, to be honest will be glad when its all over. There were times during Cheltenham when I felt completely exhausted for example.

    My target is 10k and I’m £600 short of that now. Got that and other savings in some 5% interest online accounts and 4% interest ISAs which will get paid in December so that should be a nice top up too.

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    patrick
    Blocked
    6

    Do you know why your Unibet a/c has been frozen Picnic ?

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    Tony 11

    @Chris – nice one! Good luck closing out that last £600, shouldn’t take too long. It’ll be nice to be sitting in your own house, knowing that Messrs Hill, Power, Chandler et al have effectively paid for some of it for you 😀


    @patrick
    – because the bookies are on to us all, aren’t they? Makes me chuckle to see you always seeking info for your own betterment, without offering anything in return (other than your ‘the end is nigh’ rhetoric)? It’s almost as bad as that other clown who claims to make £4k a month, but then posts something about keeping arbs secret… selfish cnut, haha

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    Chris 18

    Thanks, happy to wait until Euro 2016 to cross the line, can see the next few weeks being pretty quiet.

    Most of my profit came from hitting WH, Ladbrokes and PP Money back second offers, most of which are gone (and I’m gubbed anyway), so I think I enjoyed a golden age there. Should also point out that about a grand came from punts, some intentional others not like when smarkets crashed when I was trying to lay a 14/1 horse on a £25 free bet and he then went on to win. Poker School, won’t be forgetting the name of that horse.

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    Tony 11

    How long have you been MB?

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    kjillman 1

    very good going Chris, I’m in the same boat restricted from horse racing offers (apart from sky) and currently just over £8000 from starting last june (month break in March whilst on holiday).

    I can really see the offers are being cut back, you cam also see it on the blog as Matt never used to post so many potential profit offers.

    When I started i wanted to make £250 a month but of course got greedy and now upset when not clearing £600, think i’ll go back to only expecting £250 a month mindset and anything over a bonus!
    We all have to be careful not just punting when it’s a slow day,slippery slope!

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    Larsson07 1

    I’m looking to get a mortgage this year and heard about them turning people away for gambling sites being on there statements thats why i was only joining sites that use PayPal until someone actually said in another thread why not just open a new bank account and only use it for gambling sites. lol so thats what im doing now ive an account only for gambling, my main account which i get payed into and make payments which ill have to provide statements is gambling free. sorted. (unless they find out about my secret bank account) lol

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    steveo 1

    If they see a lot of regular payments to another bank account and they’re suspicious something is up the lender is well within their rights to ask to see that account too. I worry that lots of paypal payments will raise a flag also.

    I’m trying to find out how many months lenders look for, some apparently only want 3 months. Some don’t need any apparently. Probably worth chatting with your mortgage advisor and being straight with them, they might be able to point you to less strict lenders.

    Then again I’ve not changed lenders since the new affordability legislation came in so I don’t know.

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    Chris 18

    I started matched betting in August last year.

    Im working on the safe rule that its 6 months worth of statements that will be requested. Two banks and a building society have told me that so it seems likely.

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    wottsy 3

    Chris,
    Nearly 10k in 9 months! Thats some good going. How do you find time to hit all the offers? Ive missed out on about £25 over the past week because I’ve been at work or otherwise engaged. Tried to get the wife involved to help me out but she finds it all a bit confusing lol.

    Good to know about the mortgage thing too. Have often wondered what the folks behind the desk think when I go into the bank. I used to work at Lloyds and to find sales leads they advised us to quickly scan through as much of a customer’s account info as possible while they were standing at the counter (have you ever wondered why sometimes it can take forever to do something really basic in branch?). Part of this involved looking at their statement to see if there are any regular payments to rival loans companies. Needless to say i have never been offered anything from my bank for the past year or so despite being an ideal candidate for a loan offer lol. There is a certain sense of satisfaction though in knowing that what they see as poor management of finances is actually the best investment I have ever made.

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