will Lottery transactions affect mortgage application?

[JohnJay]

Hi

I know that gambling and bookie transactions on your current account are a no-no when applying for a mortgage, but how do banks view topping up your lottery.ie account? Nothing major, just €20 every 4/6 weeks.

 

[Leo]

Lottery = gambling. Buy your tickets in a shop.

 

[Jon Snow]

Lottery = gambling. Buy your tickets in a shop.

Are you seriously saying buying 1 lotto ticket weekly will affect a mortgage application?! Do you know this for a fact? (Not suggesting you're wrong, I'm just flabbergasted.)

 

[Setanta12]

Are you seriously saying buying 1 lotto ticket weekly will affect a mortgage application?! Do you know this for a fact? (Not suggesting you're wrong, I'm just flabbergasted.)

Why take the risk? Buy the tickets in a shop. I have an online P.Power account - balance is always between EUR1 - EUR20, my usual stake is EUR0.10 - EUR1 but I only ever top up by physically entering a shop and paying for a top-up over the counter. (And I already have a mortgage i.e. not needing another)

 

[Jon Snow]

Why take the risk? Buy the tickets in a shop. I have an online P.Power account - balance is always between EUR1 - EUR20, my usual stake is EUR0.10 - EUR1 but I only ever top up by physically entering a shop and paying for a top-up over the counter. (And I already have a mortgage i.e. not needing another)

It's nothing to do with "taking the risk", I'm interested in understanding how the bank determine what constitutes risky behaviour in an applicant's transactions.

For example you can pay for all sorts of things through a PayPal account, but if the bank see intermittent transactions to PayPal how do they risk rate that?

 

[aristotle]

In my experience with BoI, AIB, and Ulster Bank none of them queried the Lottery transactions on my current account\credit card statements. They did query many other things that I actually got fed up answering but they didn't ask about lottery payments. I probably had an average of €20 a month or a bit less even.

Most of their queries were about money coming into my accounts rather than going out.