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Gains from crypto savings use toward mortgage deposit
JimmyDod
Posts: 1 Newbie
Why is legal returns on the above not allowed to be used toward a mortgage deposit. Is there any lender that allows this.??
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Comments
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Who is refusing it?
It is not something I have come across but I would not expect it to be a deal breaker but I can understand why some lenders may not like it.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Im assuming that they are not happy about the audit trail for the deposit . Money laundering regulationsEx forum ambassador
Long term forum member1 -
I'd hope there would be a way to use it, especially if this is a straight-forward situation such as a purchase of BTC for example, held for a period of time, then sold at a profit with the profit included in the annual CGT calculation.Gets a bit more complex if this is the proceeds of mining though.0
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Can you evidence both the purchase and the sale with a full audit trail?0
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id assume as its used for quite alot of illegal activitys
If you can prove the purchase and sale of it I would have thought theres lenders that would accept it0
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