Can punting have an effect on getting a mortgage

[InMefan]

Happy new year to all  I've been punting for year and half, I certainly feel all of 2018 I have spent an awful lot of money on escorts, I also joined seeking arrangements year ago and had few sugar babies. Now I don't know the exact figure I've spent as such but must have spent between £10,000-12,000 in the past year, that is an awful lot of money. I personally feel sugar babies has been the one which has majorly contributed to this but obviously escorts too. Fact is I am trying to save up for a mortage, I look and think bloody hell I would have saved around £10,000 if I didn't do this, all my life I was so good at saving money all of a sudden now I have turned to escorts and sugar babies and that has gone down the drain. I've recently turned 30 still live with family. I have around £20,000 savings in one of my accounts and then £2,000 in my other account. Appologies for quoting these figures just need to give these so hopefully you guys may be able to give me some advise.
Would mortgage advisors look at recent bank statements and think bloody hell this guy has withdrawn so much money and spent far too much and therefore wouldn't be a good fit for a mortgage. I think now with new year approaching I am going to stop with sugar babies and maybe just see an escort once a month. Save up properly for 6-12 months and then see a mortgage advisor.


Any advise would be much appreciated

[cueball]

He'll have no idea what you spent it on, you might be a car collector, an holidaymaker extraordinaire... Whatever. Your income will dictate the offer, not what you've spunked your pre mortgage cash on.

Getting the mortgage is one thing, making the payments matter more.

[Digby232]

Unless you have a really high salary or a partner with a decent salary your going to need to save much more before you can get a mortgage. In the south of England anyway. Save £100,000 then start looking at property.

[king tarzan]

Brutal as it seems..
You were paying for the pieces of trampy shit sugar babies...
Ask them to pay towards your mortgage savings?
A big bag full of shit you will get from them!!!


Always look after yourself as 1A..

[monstar]

Mortgages are available with 5% deposit but you will be paying higher interest rates. The amount you can borrow is about 4.5x your salary minus debt repayments and average unavoidable living costs (council tax, food, utilities etc).

Typical outgoings (eating and drinking out, hobbies etc) are requested, if you lie and they see regular 1k withdrawals a month in your bank statements (lenders request a copy of last three months) this will count against you.

If you're going to continue spending, withdraw a large sum now and wait to put in an application - you're going to have to find a property to buy before applying anyway! 

[Will2k]

10-12 k is a lot. Just need to list it under a reason.

[Moby Dick]

Is Martin Lewis a punter?

Open more than one bank account,   set up a few direct debits from each and switch to other banks to get cash bonus. Do this 6months before any mortgage application, and don't apply for credit cards since this can reduce your credit score.
If you live at home with parents then be aware of other expenses, utility bills, insurance, council tax that will cost more than a few punts per month.

Put your cash in help to buy ISA or LISA to get extra 25% from government.

[king tarzan]

Can't even take this guy seriously
Was or is a sugar daddy yet can't set himself up first
How sad and pathetic

[Slowjoe]

10-12 k is a lot. Just need to list it under a reason.

If you don't want to declare it as whoring expenses, just say gambling or drugs? Mortgage lenders are fine with that...

It was a while ago since I got a mortgage and things may have changed, but back then as long as you had a provable income and deposit, past expenses were irrelavant.

Sticking to just 1 WG a month sounds like a sensible plan.

[EnglishRebecca121]

Can't even take this guy seriously
Was or is a sugar daddy yet can't set himself up first
How sad and pathetic

  says the guy who licks mangos 

[EnglishRebecca121]

Brutal as it seems..
You were paying for the pieces of trampy shit sugar babies...
Ask them to pay towards your mortgage savings?
A big bag full of shit you will get from them!!!


Always look after yourself as 1A..

what planet are you on 

[EnglishRebecca121]

Unless you have a really high salary or a partner with a decent salary your going to need to save much more before you can get a mortgage. In the south of England anyway. Save £100,000 then start looking at property.

not really i put down £21000 for a studio down in bristol on my own , its doable

[king tarzan]

not really i put down £21000 for a studio down in bristol on my own , its doable

Tax free?

[king tarzan]

what planet are you on 

I have a dislike for arrogant self importance obsessed self entitled people who think they shouldn't have to pay there way in life because others should pay for them..

Bastards!!

[EnglishRebecca121]

Tax free?

if i didnt pay tax i  wouldnt have been albe to get a morgage 

[Digby232]

So englishrebecca put down only £21000 on a studio apartment down in Bristol. Like I said yes a small deposit is ok as long as your salary is enough to cover the repayments. Most of us earn nowhere near what you earn as a prostitute so need a far bigger deposit.

[NightKid]

I have a dislike for arrogant self importance obsessed self entitled people who think they shouldn't have to pay there way in life because others should pay for them..

Bastards!!

What the flying fuck are you on about - OP's asking for mortgage advice not others to pay jack shit for him, so why on earth are you banging on about some unrelated nonsense for?   

Seriously, were you dropped on the head as a child or something? Might explain all the imbecilic man-child mango-talk at least. 

[king tarzan]

if i didnt pay tax i  wouldnt have been albe to get a morgage 

So they tax your profession under what description?

Adult industry?

[EnglishRebecca121]

So they tax your profession under what description?

Adult industry?

therapist

[25101953]

Get yourself sorted for 3 months. I don't think any mortgage adviser will look further back than this.

They are looking for financial commitments, credit cards, loans etc. They don't care or need to know before this. You could say your a wargaming geek, but tbh they won't even ask (assuming you don't have massive debts and then it wouldn't matter what you say).

£20k isn't crap as a deposit. It would get you a lower end property, but at least it's sinking into capital. For best deals with apr %, you're looking for the £120k ish but could go up to £200k plus, if your annual income is high enough.

This seeking arrangement things sounds dubious. It sounds like you're living with your parents, but trying to act like your James Bond? Knock that on the head, at least with escorts it's a transactional basis not ongoing costs.

You probably don't even need a mortgage adviser tbh. GO on Experian and get a credit score, to see if you are likely to get credit. Then go on a comparasion site or specifically YBS or Nationwide. See somewhere you like, then ask them to drop at least £5k. You're be a 1st time buyer, so no chain. Drive around property at late evening time to see what the neighbourhood are like.

If you want a flat, ask for how long the freehold is (preferably 100 years) and check the management fees per month for the guys who run the freehold.

[king tarzan]

therapist

Ok fair enough..
Good luck to you for making your hard earned work for you 👍👍

[EnglishRebecca121]

Ok fair enough..
Good luck to you for making your hard earned work for you 👍👍

id be a pretty shit escort if i ad been doing it as long as me and had no investments!

[king tarzan]

id be a pretty shit escort if i ad been doing it as long as me and had no investments!

Some destroy there money by making it dead money by designer bags, shoes etc...


You saved your money and invested 👍👍👍👍👍👍

[Plan R]

says the guy who licks mangos 

The phrasing may be a bit harsh re sugarbabes - or whatever their called
but you have to admit it is sound advice from KT to  get your abode sorted (or at least started) before you literally spunk 12k

 

[willie loman]

You could continue to live with your parents and get a buy to let mortgage, and let the property out. You can often borrow more with these sort of mortgages, still as others have pointed out the bigger the deposit the better.

[Moreish]

Can't even take this guy seriously
Was or is a sugar daddy yet can't set himself up first
How sad and pathetic

👍 2nd that , chatting  shit . 

[Laudanum]

How about transferring, say, half your take home into another account each month and don't touch it (might be possible if live at home). Out of sight out of mind. Whatever is left is your fun money.

[Richthescouser]

Unless you have a really high salary or a partner with a decent salary your going to need to save much more before you can get a mortgage. In the south of England anyway. Save £100,000 then start looking at property.

I’d much rather pay £140k for a nice 3 bed semi in a nice area with plenty of garden, great transport links into two large interesting cities and a couple of smaller but ok cities within 30 minutes thanks.

Never seen the attraction of living in the south. :-)

[Stevensmiles]

So englishrebecca put down only £21000 on a studio apartment down in Bristol. Like I said yes a small deposit is ok as long as your salary is enough to cover the repayments. Most of us earn nowhere near what you earn as a prostitute so need a far bigger deposit.

Money talks.
Somebody mentioned don’t get credit cards as they affect credit rating.

Yes do get credit cards just make sure you pay them off fully every month..... credit rating up.... easy.

As for SP’s earning vast sums of money to pay off mortgages. Good for them if they do.
They are working and paying tax if they do.

[rathbone]

I think you’ve partly answered your own question.  If you feel that you’ve spent too much in the past year then try to cut down a bit and be selective in your punting in 2019.  Can’t comment on SA as it doesn’t appeal to me. 

Maybe put aside some more cash to add to your savings, then you’ll hopefully have £30k by the end of the year to use as a deposit - but still have had a few punts, so you’re not cutting yourself off from that completely.  As one of the other replies said, look after no.1.  If buying property is a priority for you, try to balance your spending between punting and saving.

[hamchang]

I do wonder how the big data industry will add to this - the companies who trawl our phones and computers, strip them bare and sells that off will of course know we are whorists, and when will that be passes onto banks, insurance companies etc.

[seeker]

Don't spend money on whores or cars or crypto coins unless its cash you wont miss ...
First priority is yourself not some "sugerbaby" whos most likely got another  few mug fuckwits
Sniffing around her holes.

[king tarzan]

Don't spend money on whores or cars or crypto coins unless its cash you wont miss ...
First priority is yourself not some "sugerbaby" whos most likely got another  few mug fuckwits
Sniffing around her holes.

+1

[Squire Haggard]

IMO, this is a good site to search.

External Link/Members Only

[DeanoDeano]

Jesus 

Yes. A mortgage provider will want to know what you are spending your large cash withdrawals on. It's considered part of your outgoings. Obviously you won't tell them the truth, but then their algorithms will think that your cash is going on gambling - massive negative on the rating - or drugs - even bigger negative - or something else.

Unexplained cash out is not a good thing.

Make smaller transfers to another account which you then withdraw for your punting expenses. It's not a guarantee but will not look as bad. In the post credit crunch environment banks are forced to ensure they don't lend to high risk debtors.

[xxlmuscles]

One or two good escorts at £120 - £150 per hour a month is a much better bet.

[houseboot]

Some destroy there money by making it dead money by designer bags, shoes etc...


You saved your money and invested 👍👍👍👍👍👍

KT is in love      

[datwabbit]

How about putting off your search for a year while brexit plays out. Transfer your punting fund monthly to another account with another bank. Then pay for punting from that account. You're already taking money out of your current to pay for punting and you could say that it's being transferred manually into another account.

Bottom line is, they want to know that you can pay the mortgage without affecting fuel and council tax. 

[king tarzan]

KT is in love      

Yes I'm in love with delicious lamb curries 😋😋😋😋😋😋😋

[jamesdean1964]

You could continue to live with your parents and get a buy to let mortgage, and let the property out. You can often borrow more with these sort of mortgages, still as others have pointed out the bigger the deposit the better.

Don't forget new tax laws mean, you will soon be paying tax on full rental. You are no longer able to count mortgage payments as a expense.
Hence why a lot of landlords are getting out or shifting to a limited company umbrella.

[Markwillo1878]

Unless you have a really high salary or a partner with a decent salary your going to need to save much more before you can get a mortgage. In the south of England anyway. Save £100,000 then start looking at property.

Jesus H Christ

@0k on a mortgage up here gets you a 4 bed room with a garden and garage

[texmex]

Don't spend money on whores or cars or crypto coins unless its cash you wont miss ...
First priority is yourself not some "sugerbaby" whos most likely got another  few mug fuckwits
Sniffing around her holes.

+1
And add Stock Market to the list

[mountainjew]

A bloke in work used to put joke references on any bank transfers he sent to his mates (midget hookers, gay porn ect) It back fired on him when he went in for a mortgage consultation and the bloke asked why he was spending so much on midget hookers, he nearly died of embarrassment but the guy said he sees shit like that all the time and they had a good laugh about it.   

[Gordon Bennett]

Can't you just carry on living the dream and forget about shackling yourself to a crippling 30 year mortgage to buy some shit-box of a house/flat? Hang on until you inherit parent's house and meanwhile maybe up their life insurance too (but try and get them to pay the premiums.... Don't see why you should pay them).
As for your savings - that's just the next 18 months of fun and frolics already in the bag, what a result!

[funfungoodguy]

Mortgage applications are much more scrutinized than they used to be 'cos the last they want is a loan that defaults. Your bank statements will be looked over, an aspect of that is to check you aren't paying a loan or payment commitment that you haven't listed on your outgoings. Spend your money how you like but  that amount (from the original question) is a lot of dosh to spending on hookers.

Find an interesting hobby/ collecting  that needs that amount of money.....     and a girlfriend who likes it too.... that way you'll get goods of value or an experience you won't have to be secretive about ..... and a shag as well....   

Yes spending that amount on prostitutes (cash income to them, taxed income from you) will limit your house buying prospects one way or another, either on capital or disposable income grounds. Like I said elsewhere they are in sales, they are good at making you feel you are getting value for money, in fact you are buying an expensive treat.

[workinallweek]

You could continue to live with your parents and get a buy to let mortgage, and let the property out. You can often borrow more with these sort of mortgages, still as others have pointed out the bigger the deposit the better.

very difficult to get a btl mort without owning a property to live in first

[VOLPONE]

Can't you just carry on living the dream and forget about shackling yourself to a crippling 30 year mortgage to buy some shit-box of a house/flat? Hang on until you inherit parent's house and meanwhile maybe up their life insurance too (but try and get them to pay the premiums.... Don't see why you should pay them).
As for your savings - that's just the next 18 months of fun and frolics already in the bag, what a result!

+1

That's exactly what I'd do in the o.p.'s position

[JamesKW]

I am glad when I was young I had free sex and saving up for a mortgage was pretty easy,its likely house prices have peaked anyway, though best to wait and see if Brexit happens as this will reduce prices significantly.I have read there is little activity in the housing market as sellers wont reduce prices and buyers wont pay the amounts asked until there is more certainty.

[JamesKW]

+1

That's exactly what I'd do in the o.p.'s position

When you are young sex should be free,when you get older you need prossies.Mortgages reduce in time with inflation,sometimes to almost nothing, so you have more disposable income for prossies,when you need them most.Cant always rely on parents house, may need to share it with siblings and the tax man,may go on costs for a home,may be left to new young Phillipine wife or dogs home.

[MrArmagh]

if you want to go for a morgage the bank will want 6 months of bank statements maybe a year. that's not that long of a time to stop punting on a regular basis. you could pass the odd money out of your bank for car parts, something for the house etc etc but just stay in and have a wank until your bank statements are clear of any of them withdrawals.

after you get your house or approval punt again.