Now Accepting Bitcoin as Payment for Mortgage Advice
Cryptocurrencies over the last year have entered the mainstream, primarily due to the strong growth in value as well but also due to growing availability of goods and services accepting them as payment.
Understanding that clients needs are always changing we want to make sure we are doing everything we can to make the mortgage advice process as comfortable as possible. In doing so, we are now accepting payment for our mortgage advice fees in Bitcoin, Ethereum and Litecoin, if this is a clients preferred method of payment.
As cryptocurrency exchange rates are susceptible to price fluctuations the exchange rate will be calculated on the day the mortgage application is fully submitted to a lender (when our fee is due). There will be a 10% additional charge to account for these fluctuations and the additional admin.
Mortgage Advice Fee – Cryptocurrency Example
| GBP | Bitcoin | Ethereum | Litecoin | |
| Remortgage | 295 | 0.044 | 1.023 | 10.573 |
| Purchase | 495 | 0.077 | 1.705 | 17.741 |
Prices correct at time of publication (30/10/2017) and includes 10% charge.
We believe that by offering this service we are the first independent mortgage & protection adviser practice in the UK to accept cryptocurrency as payment for fees and we hope many others join us.
If you have any questions please do feel free to contact us on: office@sentryadvice.co.uk or call 01342 826 741.
The blog postings on this site solely reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of Sentry Advice Limited. All comments are made in good faith, and neither Sentry Advice Limited nor the author will accept liability for them. No advice is given in any posting. Please contact your adviser for more information or advice.
Mortgages to Purchase a Property
Mortgages to purchase a property a fee of £495 is payable on application – this is fully refundable if we are unable to obtain a mortgage offer.
Remortgages
For processing a remortgage a fee of £295 is payable on application – this is fully refundable if we are unable to obtain a mortgage offer.
Rate Switch / Product Transfer
For processing a product transfer/rate switch where you are remaining with your current lender a fee of £145 is payable on application.
Adverse Credit
For applications where there is a history of adverse credit then a total fee of £495 will be charged, of which £245 is payable at the point a personal recommendation is made, whether you decide to proceed or not. The remaining £250 is payable if/when an application is made and is refundable if we are unable to obtain a mortgage offer.
Equity Release Mortgages
A total fee of £990 will be charged, of which £495 is payable at the point an application is made with a provider. The remaining £495 is payable if/when the application completes.
We can accept payment via bank transfer, credit/debit card via PayPal.
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Sentry Advice Limited are authorised and regulated by The Financial Conduct Authority and are entered on the Financial Services Register (www.fca.org.uk/register) under reference number: 624557
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