Buying a Home with Cryptocurrency: What You Need to Know Before You Instruct a Conveyancer
ANTI-MONEY LAUNDERING | GUIDANCE FOR BUYERS More buyers are funding a deposit, and in some cases an entire purchase, from money they have built up in cryptocurrency. If that is you, expect your conveyancer to ask a great many questions before your money can be used. This guide explains, in plain terms, why those questions are asked and how to prepare so that your purchase is not delayed. Cryptocurrency has moved from the fringes of finance into the mainstream. It is no longer unusual for someone buying a home to have part of their deposit sitting in a digital wallet rather than a savings account. That is perfectly legitimate. The difficulty is not the cryptocurrency itself, but the checks your conveyancer is legally required to carry out before that money can be put towards your purchase. If you understand what your conveyancer needs and why, you can gather the right information in advance, avoid frustrating delays, and complete your purchase with far less s...
