Hi everybody, posted also in the long term lending forum but thought I'd post here also so to get some additional feedback. I'm looking for a loan of between £15 - £20k (equivalent in BTC) so to consolidate some existing debts and inject the extra into my business.
My circumstances are that I am asset comfortable (my property is worth approx £600k) however some liquid funds right now would be extremely beneficial. Their are a number of lenders here who allow you to borrow against assets (property, boats, machinery, antiques etc) however the requirements with property is that it is not a main residence. I'm not in possession of any alt crypto currency unfortunately so cannot offer anything in that area as collateral.
Thank you for reading. Any input/suggestions would be appreciated.
My circumstances are that I am asset comfortable (my property is worth approx £600k) however some liquid funds right now would be extremely beneficial. Their are a number of lenders here who allow you to borrow against assets (property, boats, machinery, antiques etc) however the requirements with property is that it is not a main residence. I'm not in possession of any alt crypto currency unfortunately so cannot offer anything in that area as collateral.
Thank you for reading. Any input/suggestions would be appreciated.
The problem with using property is that it will cost and take a long time to really secure it, and lets not forget someone would have to live near by to take pictures of the said property, have someone inspect it, etc. Why not just get a normal bank loan and use that loan to buy bitcoin or any other altcoin? That way, banks can use your property to secure the loan (since they can afford to have it inspected, etc)? Most lenders here do accept physical collateral, but almost every lender would prefer something easy to liquidate in the event of default.
Idk what else to really suggest, assuming youre not here to troll. If you’re serious, you will have to find someone who live near by and willingly to go through the whole process.
EDIT: Also you shouldn’t open two request. Only one is needed, so you should lock the other one
Thanks for your input (definitely not here to troll). Understood what you're saying with regards to the locality issues and legal side of things. Just looking for some options.