Image Image Image Image Image Image Image Image Image Image Image Image

| January 22, 2018

Scroll to top


some Archives -

Avocado toast isn’t the only thing eating your cash. Here are some things to dump in 2018

January 21, 2018 |

We’ve all heard that defunding your coffee habit or laying off the avocado toast can help save money, but there are less obvious things you can remove from your budget, too.

Reach your money goals faster by paying close attention to these things in 2018:

Delivery apps

Think twice before downloading…

L.A. Times – Business

With Tax Savings, Some Employers to Boost 401(k) Contributions

January 19, 2018 |

A growing number of companies plan to use some of the savings they expect to realize from the tax overhaul to boost their contributions to employees’ 401(k) retirement-savings accounts. US Business

Some UK Mortgage Lenders Refuse to Serve Bitcoin Investors

January 16, 2018 |

Some UK Mortgage Lenders Refuse to Serve Bitcoin Investors

British bitcoin investors trying to use their earnings to buy real estate are facing difficulties in securing loans from mortgage lenders. Several building societies refuse to work with them even after they converted the cryptocurrency to fiat and provided a paper trail for its origins.

Also Read: Pineapple Will Match up to $ 4M in Bitcoin to Test Curing PTSD With Psychedelic Drug

Squeamish Mortgage Lenders

Some UK Mortgage Lenders Refuse to Serve Bitcoin InvestorsA number of UK building societies (financial institutions owned by their members like credit unions in the US) have said that they would not accept any money obtained from cryptocurrency-related transactions. This is despite the fact that there is no law or regulation in the UK which can legally prevent people from paying for a mortgage with fiat whose origin is bitcoin trading.

One broker described to the Financial Times how he was unable to secure a loan for a client because: “The first mortgage lender I rang asked me what a cryptocurrency was. I rang two other lenders and they said they would not touch it. When I mentioned where the money had come from there was massive reluctance to help or understand the problem. I do not believe the mortgage providers in general are ready for this issue and research tells me that a lot more people will be knocking on our doors with funds made or raised in this fashion.”

The Building Societies Association commented: “There is currently no regulation of these electronic currencies, which puts them into the highest risk category in relation to money laundering. In addition, it is well known that such currencies are popular with criminals, who use them to launder the proceeds of crime.”

FCA to Blame?

Some UK Mortgage Lenders Refuse to Serve Bitcoin InvestorsOther UK mortgage providers and banks are willing to serve bitcoin investors, providing they can prove the exact origin of the money with relevant documents, including Coventry Building Society, Skipton and the Yorkshire Building Society. Lenders said that a lack of clear guidance by the regulator is to blame for the fear of engaging with bitcoin investors.

A mortgage broker explained: “Lenders are so frightened about being hauled over the coals by the Financial Conduct Authority for not complying with anti-money laundering rules that they go beyond what in many cases you and I might consider to be reasonable.” The head of the Association of Mortgage Intermediaries, added that: “The rules are made by governments and lenders and regulators and the first real guidance we’ve had was the speech from (the FCA Chief Executive) Andrew Bailey saying that he didn’t see how cryptocurrency was a real currency.”

The FCA commented: “Our existing rules and guidance related to customer due diligence checks under the money laundering regulations require financial firms to take an approach tailored to the risks they face. We do not currently plan to issue guidance to mortgage brokers and lenders about the specific risks arising from sources of funds being used in housing transactions.”

How should British bitcoin investors handle difficulties in securing a mortgage? Share your thoughts in the comments section below!

Images courtesy of Shutterstock.

Want to create your own secure cold storage paper wallet? Check our tools section.

The post Some UK Mortgage Lenders Refuse to Serve Bitcoin Investors appeared first on Bitcoin News.

Bitcoin News

As firms bring back cash to the U.S., some see a fresh wave of mergers

January 15, 2018 |

In late 2015, Apple Inc. Chief Executive Tim Cook was asked why the technology giant continued to leave a mountain of cash overseas rather than return it to the United States.

“I’d love to bring it home,” Cook said of the cash hoard, which now totals a staggering $ 265 billion, in an interview aired…

L.A. Times – Business

In France, Some Say #MeToo Has Gone Too Far

January 15, 2018 |

A battle has broken out in France between campaigners against sexual harassment and a group of prominent women who argue overzealous misconduct allegations threaten the country’s embrace of sexual freedom. What’s News Europe

Kodak Got Its Stock to Triple by Using Some ‘Hot Buzzwords’

January 10, 2018 |

Time was, when flagging companies wanted to appear hip they would give a mascot sunglasses and a skateboard. Well, it appears blockchain and cryptocurrency are the new sunglasses and skateboard. Following on the heels of Long Island Ice Tea Corp., which changed its name to Long Blockchain Corp. in December,…

Some Oregonians Don’t Like Being Allowed to Pump Their Own Gas

January 4, 2018 |

Change can be a scary thing—but the rest of America isn’t overflowing with sympathy for Oregonians freaking out about the fact that they’re now allowed to pump their own gas. The state partially lifted its ban on self-service gas on Jan. 1, allowing people in rural counties with less…

Employees at some Tim Hortons reportedly see benefits cut over minimum wage hike

January 4, 2018 |

Employees who work at Tim Hortons locations in Canada owned by the co-founders’ children will reportedly see their benefits reduced along with paid breaks over the country’s $ 2.40 increase to minimum wage.
FOX News

IRS says it’s possible to prepay some property tax this year to save money. Here are the rules

December 28, 2017 |

For households rushing to prepay property taxes before a new cap on deductions takes effect, the IRS released some good news Wednesday: In many cases, it will allow such a maneuver.

That had been up for debate, because the new tax law was silent on such a scenario, even though it specifically prohibits…

L.A. Times – Business

Tax bill simplifies filing for some but complicates it for others — and don’t count on that postcard

December 21, 2017 |

A priority of the Republicans’ tax overhaul was simplification, and they drove home the point this fall with an omnipresent prop: a red-white-and-blue postcard.

“We’re making things so simple that you can do your taxes on a form the size of a postcard,” House Speaker Paul Ryan (R-Wisc.) said last…

L.A. Times – Business