Richard Williams

Registered with Property118.com
Tuesday 10th February 2015


Latest Comments

Total Number of Property118 Comments: 8

Richard Williams

9:19 AM, 2nd April 2015
About 5 years ago

WARNING Unregulated Advice

Not sure what Neil means with his last post. Just because the sales process is regulated does not mean all the mortgages have to be on capital and interest or indeed why ''it should go pear shaped'' just because there is a void....the lender simply wants the monthly payment just as they do with residential products.
Again as i said earlier my question was not about regulation of the industry only the regulation of a sale of a mortgage contract......and i cant see why BTL mortgages should in any way be treated differently than any other mortgage.
When i write a BTL case i treat it exactly the same as a residential, same process, same docs, same compliance. No problem.
Just to reinforce my point a large group of solicitors in Manchester are already looking at this issue, my view is better to be safe than sorry.... Read More

Richard Williams

5:02 AM, 2nd April 2015
About 5 years ago

WARNING Unregulated Advice

Great comments everyone, let me answer Neil first, the mortgage advisor does not need to know what a good property is (anymore than a lender does) . This is not about investment advice this is regulated BORROWING advice. In response to Mark, he is right regarding BTL advice but when it comes to advice on the appropriate mortgage that should be regulated because I kid you not, when the grey haired investor finds out in a couple of years time that he could have got a better mortgage elsewhere and the advisor was not regulated the ambulance chasing solicitors will have a field day.
On Marks last point a regulted advisor has to show that he has advised the client on his status, ie whole of market or panel, he must also say if he is directly authorised Or part of a club.
One last point Howard response was great but he knows, as I do, unregulted brokers submit through a club, not direct to lenders, thereby getting round the issue of regulation.... Read More

Richard Williams

9:58 AM, 1st April 2015
About 5 years ago

WARNING Unregulated Advice

Ok I can agree somewhat with what Mark is saying in the first part of his response, however the regulation is already in place for the sale of mortgages. This is not new regulation it is simply providing the same level of protection to the public which they receive for their residential mortgage. Or do we advocate removing regulation for residential mortgages as well ?
With regards to unregulated land deals etc I agree that is a case of buyer beware as these as investments . But if you are "borrowing money" that is entirely different.
On the second part, I agree entirely with Mark but that is a different subject and not related to "borrowing advice"... Read More

Richard Williams

15:47 PM, 17th March 2015
About 5 years ago

Best Way to Raise Capital and Expand Portfolio

I agree with Mark, sounds to me that you need to sit down and strategise. Once you have a clear path the rest will fall into place. Happy to help if you want to contact me.... Read More

Richard Williams

15:55 PM, 23rd February 2015
About 5 years ago

Has anyone experienced situation where debtor has lied in court?

Reply to the comment left by "john " at "23/02/2015 - 15:09":

Easy....because we will infringe THEIR human rights !!... Read More