![\"bitcoin\"](\"https:\/\/www.impactsf.co.uk\/wp-content\/uploads\/2019\/05\/Bitcoin-300x200.jpg\")
In the meantime, and especially\u00a0in the current climates, you should do your homework and speak to a \u2018whole of market\u2019 mortgage adviser.\u00a0\u00a0They might have an avenue for such a transaction.<\/p>\nThere\u2019s been a lot of hype around the rise of \u2018Cryptocurrency\u2019.\u00a0 Specifically, relating to Bitcoin and other similar electronic currencies.\u00a0 Currently they are not regulated and their price can fluctuate immensely day by day.\u00a0 However, there have been a number of success stories and thus providing funds which could possibly be used as a deposit for a property.\u00a0 Normally, lenders will want to see a build up of savings, or proof of where the funds have come from, inheritance etc.\u00a0 With no formal category for this type of return, and no formal guidance from the regulators, some lenders may class it as gambling and not allow it as a form of deposit. \u00a0Some of the major high street names have already confirmed they will not accept deposits derived from cryptocurrency. With technology thriving as it is and some cryptocurrencies now worth billions worldwide, this could be deemed quite an ignorant view.\u00a0 I suspect, as they become more widely known and used, only time will move this forward.<\/p>\n
In the meantime, and especially\u00a0in the current climates, you should do your homework and speak to a \u2018whole of market\u2019 mortgage adviser.\u00a0\u00a0They might have an avenue for such a transaction.<\/p>\n
However, if the person you are speaking to is not offering \u2018whole of market\u2019 advice, i.e. they just review a panel of selected lenders, you may not be getting the best product for your needs and\/or requirements.\u00a0 For some of the larger brokers, lenders may even put one of their own underwriters in-house, so that your application can be processed within their offices.\u00a0 This helps with speed, instructing valuations and dealing with queries quickly.\u00a0\u00a0\u00a0And remember, you can place your mortgage with whoever you like. You are under no obligation to anyone, despite what some may say! If you don\u2019t like their stance, or they\u2019re \u2018forcing\u2019 you to use a specific adviser, walk away\u2026.<\/p>\n
Finally, we are delighted that Impact Specialist Finance has been nominated for Best Product Innovation; Best Use of Technology; Bridging Distributor of the Year, Best Buy to Let Broker and Specialist Finance Business of the Year at the 2019 Specialist Finance Introducer Awards.\u00a0\u00a0Brought to you by Mortgage Introducer, the SFI Awards celebrate all that is great in the specialist mortgage sector.<\/p>\n