Can gambling affect your home loan application?

When you're preparing to apply for a home loan, every detail of your financial profile matters—including your spending habits. One area that lenders are increasingly paying attention to is gambling activity.

At FinancePath, we’re here to help you understand how your financial behaviours can impact your ability to secure a home loan, and what you can do to put your best foot forward.

Why lenders look at gambling activity

As part of the home loan application process, lenders conduct a thorough affordability assessment. This includes reviewing your income, regular expenses, credit score, and bank statements. If there’s a pattern of gambling transactions, especially frequent or high-value bets, it could raise concerns about your ability to manage repayments consistently.

While the occasional lottery ticket or casual punt may not be an issue, ongoing or excessive gambling can be seen as a risk factor. It may not only affect your chances of being approved for a mortgage but could also limit your ability to refinance in the future.

How to strengthen your home loan application

If gambling has been part of your financial history, there are proactive steps you can take to improve your borrowing position:

• Reduce or eliminate gambling activity
  Cutting back or stopping gambling altogether can demonstrate responsible financial behaviour and help rebuild lender confidence.
   
• Pay down existing debts
  Clearing credit card balances, personal loans, or car finance shows that you’re in control of your finances and reduces your debt-to-income ratio.
   
• Build a savings buffer
  A consistent savings history is a strong indicator of financial discipline. Set up a regular savings plan to show lenders you’re serious about your goals.
   
• Check and improve your credit score
  Access your credit report regularly and correct any errors. Paying bills on time, lowering your credit limits, and avoiding late payments can all help boost your score.

Need help getting on track?

If you’re concerned about how gambling may affect your home loan application, you’re not alone, and support is available. Services like GambleAware and Gambling Help Online offer confidential tools and resources to help you take control.

At FinancePath, we understand that life isn’t always straightforward. We’re here to have open, judgment-free conversations about your financial situation and help you explore your options.

Let’s talk about your finance goals

Whether you’re applying for your first home loan or looking to refinance, we’re here to guide you through the process. If you’d like to discuss your situation in confidence, reach out to our team today.

Book a free consultation and take the next step toward securing the finance that fits your future.