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How do creditors assess my account statement? If creditors ask for your account statement, you can be sure that they are looking for a lot of things. Your overall goal, however, is to judge whether you are the kind of individual who handles cash in a responsible manner and is therefore likely to make periodic mortgage repayments. Over the past few month, a particular tendency has emerged, namely the issue of games of chance on account cards.

So as far as gaming is concerned, what specific issues do we have to address? Whether I play or not, what does it have to do with the lender? Do I have gaming transaction on my last account statement - is it still possible to get a mortgage? Are there any other things the lenders don't want to see on my account statement?

Whether I play or not, what does it have to do with the lender? If you have an annuity flap on the Grand National or a regular use of web wagering pages, obviously there is nothing unlawful about duly licenced gaming. Using many of the accountants who advertise on mains TV and on radio, many view gaming just as a mains hobbies or amusement, much like many others.

It should not be overlooked, however, that even the gaming operators themselves encourage clients to "please play responsibly", and this is the code to consider when requesting a mortgage. So while it is not the role of a creditor to tell you how to lead your lives, how to disburse your cash or even moralize on the ethics and injustice of gaming, they have a responsibility (underlined by the Mortgage Ordinance) to borrow in a responsible manner.

It is not entirely inappropriate for creditors to demonstrate to regulators that they make wise credit choices, so it is to be expected that the individuals to whom they grant credit take a similar view when it comes to their own well being. Do I have gaming transaction on my last account statement - is it still possible to get a mortgage?

It is not unlawful to play just because you have one or the other gaming operation on your statement does not mean that you will be rejected for a mortgage. The creditor will, however, check whether these operations are appropriate and accountable. Therefore, they will focus in particular on the incidence of these operations, the magnitude of the operations in proportion to the person's personal earnings and the effect on the amount on the account.

However, if these are rare micro-transactions that do not have a significant effect on normal commercial deposits, they are unlikely to be considered significant. But if you are betting most of the week or are always over the top, the lender will probably consider it unjustifiable and reject your request.

Are there any other things the creditors don't want to see on my account statement? Generally, as we have seen, lenders look at your account statements to show how you are managing your funds and help them determine whether this gives them either the trust that you are financial sound or the proof that you are not.

Keep in mind that lenders are often banks that either directly or as part of a larger group often offer checking balances, overdrafts, debit or credit card sales and consumer lending to help you realize that these things can all have a role to play when it comes to prudent budgeting. A mortgage applicant's keys are how these funds are administered.

For example, creditors will look for bank charges for overdrafts or return debit notes as these would normally show that the bank does not manage the bank well. Some other things to look for are loan operations from paying days loan companies; "silent" loan repayment (i.e. if you said on the request that you have no other credits, but there seems to be periodic loan payment, this could be a problem); they would look for apparent missing payment; after all, they could also take into consideration how much of a typically monthly amount is overspent - i.e. if you're just going into the paying days loan and are covered for the remainder of the monthly, how lasting is this mortgage?

A typical banking institution would ask for up to three month of your latest account statement showing your payroll and all your periodic billings. So if you know that you probably want to get a mortgage in the not too far away distant distant future, try to make sure that you are avoiding one of the above traps.

Stop playing games of chance for a while and work on putting your banking money in perspective. There are some mortgage brokers who can ask for fewer than others, or even some who don't even ask for them.

However, these creditors would also retain the right to ask for account statement under certain conditions, so your best choice (no wordplay intended) should be as cautious as possible before applying for a mortgage. Please keep in mind that when you play, please play in a responsible manner! Please do not hesitate to get in touch with us for your free mortgage advice.

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