Client Background
Luther Yeates, a broker at Orton Financial LTD, was approached by a client seeking to purchase a new residential property. The client had created his own cryptocurrency, with all his income and assets held and derived from this cryptocurrency. His income was generated through mining the token and capital appreciation, which he could release upon selling the tokens. The cryptocurrency was proven to be liquid and tradeable.
Challenge:
The primary challenge was that many lenders are averse to assets held in cryptocurrency, especially when it comes to using cryptocurrency as income. This challenge was compounded by the fact that the cryptocurrency was of the client’s own creation. The client required a substantial loan of £3.6 million, which added to the complexity of the situation.
Solution
Luther Yeates approached a lender known for being at the forefront of innovation in the mortgage market. By leveraging this lender’s progressive approach, Luther was able to secure a standard mortgage for the client.
Results
The successful acquisition of the £3.6 million loan provided the client with a long-term solution and stability for his family. This standard mortgage was a preferable alternative to a short-term loan, which could have placed the client in a difficult financial position in the future.
If you are facing unique financial challenges and need expert assistance, contact Luther Yeates at Orton Financial LTD today. Let us help you find innovative solutions tailored to your specific needs.
YOUR HOME MAY BE REPOSESSED IF YOU DO NOT KEEP UP WITH REPAYMENTS ON YOUR MORTGAGE.