More and more people are investing in cryptocurrency and are looking to put these investments towards a home purchase.

Can I use cryptocurrency as my deposit for a home?

As a mortgage lender, Generation Home needs to understand where your deposit funds are coming from.

When it comes to money that you’ve made through crypto investments, verifying the source of these funds can be difficult. Your conveyancing solicitor will check the source of your deposit funds. (Read more on this here!) If you’re hoping to use money made through crypto investments, you need to ensure that this is something your conveyancer is comfortable with.

Feel free to reach out to Generation Home via live chat or email and we can direct you towards the conveyancing firms on our panel who accept deposits from crypto investments (subject to their own due diligence).

Please be aware that there will be additional questions asked to understand where the deposit funds have come from.

Here are some questions you should be prepared to answer:

  • How much of the deposit is made up of cryptocurrency?

  • Which crypto service provider have you used? Are they regulated by the FCA?

  • What was the original purchase price of the cryptocurrency? Where did these funds come from?

  • When was the cryptocurrency portfolio created?

  • Can any investment documentation be provided?

Can you take into account income received from cryptocurrency?

Crypto assets are considered very high-risk investments. Therefore, we do not accept cryptocurrency as income, and it will not be included in our affordability assessments.

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