lucashood1977
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If someone has a deposit for a house but accrued it by putting their savings into crypto currencies would the banks look unfavourabley toward that?
And you know how a bank would look at that if it was the source of your deposit??a win at cheltenham
Should be ok for a house in DrumcondraAnd you know how a bank would look at that if it was the source of your deposit??
I know that they wouldnt look favourably on it. Whats your point?And you know how a bank would look at that if it was the source of your deposit??
Well what exactly was your point in the following as a response to the OP?I know that they wouldnt look favourably on it. Whats your point?
Its a legitimate source of funds like a return on an investment or a win at cheltenham
Assuming you've paid your taxes on the gains, then it'd be fine
Have you experience using crypto gains as a source of income on a mortgage application? Getting money as a gift is also fine from a legal perspective, but not from a perspective of a bank assessing your ability to put aside money from salary on a regular basis.
They key word here that I think is being overlooked slightly is that it's for the deposit only.If someone has a deposit for a house but accrued it by putting their savings into crypto currencies would the banks look unfavourabley toward that?
The OP isn't asking about crypto being relied upon to repay the mortgage, just to form the deposit.
They key word here that I think is being overlooked slightly is that it's for the deposit only.
The OP isn't asking about crypto being relied upon to repay the mortgage, just to form the deposit.
I can't see there being any issue with this, provided your other regular / normal income is sufficient for the LTI and stress tested for the repayments.
Would you equate investing in stocks with gambling? Why should investing in cryptocurrency be considered gambling rather than investing?Notwithstanding this, the facts when viewed in their entirety are that any borrower that has shown a propensity for gambling may well be looked upon in a less than favourable light.
Doesn't really matter what I or even you think in relation to the question the OP posed.Would you equate investing in stocks with gambling?
Why not start a thread asking this, may solicit some interesting replies.Why should investing in cryptocurrency be considered gambling rather than investing?
As above well covered in the appropriate forum, but you'd have to be worried about any bank that would look on a market that is completely unregulated, deals in obfuscation and anonymity, and so open to manipulation as even coming close to equivalence with the stock market.Would you equate investing in stocks with gambling? Why should investing in cryptocurrency be considered gambling rather than investing?