Can trading cryptocurrency affect mortgage application status

stick-dan

Hi,

Quick question and maybe it's obvious but I want to check.
Can trading in Cryptocurrencies be seen as something negative when making a mortgage application?

I had a look but found only sparce mentions of it.

Thanks in advance.

Gumbo

I would say yes, it would be a big risk and on the same level as consistent online betting through a PP account linked to your bank card.

Feckofff

stick-dan wrote: »

Hi,

Quick question and maybe it's obvious but I want to check.
Can trading in Cryptocurrencies be seen as something negative when making a mortgage application?

I had a look but found only sparce mentions of it.

Thanks in advance.

I would be creative, I just said I was buying bicycle parts on eBay.

Now if your pushing around 100k then they might not believe you.

Their is a proposal to tax income from trading the same as fx, just something to be aware of.

LincolnHawk

Having extra disposal income to buy bitcoin probably wouldn't...but that's just a guess.
You'd need to ask an underwriter

JP 1800

I would not think it should be a problem, it is basically investing, the same as commodities, like gold and silver the value may go up or down. I invested in some classic cars and then sold them on when the time came to applying for a mortgage, the only thing I has to furnish was receipts from the buyers along with screenshots of the ads

davindub

Feckofff wrote: »

Their is a proposal to tax income from trading the same as fx, just something to be aware of.

Interesting have you got a link?

Feckofff

davindub wrote: »

Interesting have you got a link?

Sorry no link,

I heard it from someone working in the banking industry who is working on blockchains.

traveller0101

Is there any more comments on this or does anyone have experience?


I would think that buying cryptocurrency should be okay because you're just holding your money in a different currency. It could be EUR, USD, GBP, AUD, etc.





I think day trading would be considered risky since it's essentially gambling.




So to make the OP's question more specific. Will buying BTC, LTC, ETH (but not trading it) have a negative effect on a mortgage application even if you're saving enough money (in traditional EUR savings accounts) every month to pay mortgage repayments?

whippet

The last time I applied for a mortgage (2012) none of our investments (stock portfolio), regular work bonuses were considered as part of the application.

However, in most circles Bitcoin is seems as a high risk investment and may actually be seen as a negative .... but most definitely won’t be taken as a positive