Cryptocurrency & Mortgages

No doubt, by now, you’ve likely heard of cryptocurrency.

Bitcoin and others have surged in popularity, and recently it seems that everyone we talk to wants to get in on the action or has a friend or relative that has made a small fortune.  

But can cryptocurrency be used effectively in the real world? We are often asked:

Can I use Bitcoin or another cryptocurrency as a mortgage deposit?
At the moment cryptocurrency itself cannot be used as a mortgage deposit, however,  it’s possible to use profits from it to fund your deposit. 

You’d need to sell the currency and produce a document trail of its acquisition and sale to have any chance of finding a mortgage lender who is willing to accept this capital. And although it’s difficult, there are around a dozen UK lenders who will consider this as a mortgage deposit.

Our award-winning team prides itself on being able to source competitive mortgage deals and is always keeping abreast of new opportunities for our clients. If you would like to discuss how we can support you, contact our award-winning team on 0208 364 3444 or click the schedule a call back button below to book a time slot.

Home Sales Plunge 52% After Stamp Duty Deadline

The number of residential property sales in October slumped by 52% to 76,930, compared to September’s figure of 160,950 as the rush of buyers trying to beat the end of the stamp duty holiday subsided, data from HM Revenue & Customs show.

Borrowers Can Fix Their Mortgage at Less than Three Percent for 30 Years

Kensington Mortgages are now offering fixed interest rates for 40 years. Applicants must not be older than 70 at the end of the mortgage term and must have a 40 percent deposit to fix their mortgage at an interest rate of 3.34 per cent for 40 years.