Top Five Property Finance
Welch has noticed a worrying trend among vendors becoming highly geared as overpriced property is increasingly difficult to sell in a buyers’ market.
‘People are at a risk where they’d borrowed 70 per cent of gross development value and are now having to find another round of short-term funding — it’s going to be tough,’ he says.
Despite the ‘dangerous and expensive’ trend of rebridging, Welch remains positive about the overall effect of Brexit: ‘London is cheaper — it’s a great opportunity for people to negotiate really good prices to buy.’
The multi-award-winning adviser is a cross-border operator, consulting Largemortgageloans.com’s 45-strong London team from his new abode in Guernsey. The firm is also known as the ‘luxury eBay’ for million-plus lending, used by top sportsmen, billionaires and ‘people who you would not believe’, he previously told Spear’s.
A relentless financier who loves ‘challenging the status quo’, he has used his network of international private banks, boutique lenders and private investors to set up Guernsey’s first building society.
When asked what he wishes for in 2017, Welch replies: ‘Good health and innovation.’
‘I’m constantly looking at new ways to do business, new solutions and the use of technology and how it can shorten the mortgage advice process,’ he adds.