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catmandu

Our Friends, The Wilsons

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Anyone heard any news about the lovely couple recently - are they still offloading their property. I'm sure they are, but for a change they seem to be keeping a low profile.

I suppose the government's long intervention in the markets and the continuing low IR will see that they get a nice profit out of their activities. Bit of a shame really.

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Anyone heard any news about the lovely couple recently - are they still offloading their property. I'm sure they are, but for a change they seem to be keeping a low profile.

I suppose the government's long intervention in the markets and the continuing low IR will see that they get a nice profit out of their activities. Bit of a shame really.

I have not heard a thing; but my money is on them coming out of this with a negative bank account not positive. I half wish it, but it's more to do with the maths! Their mistake was putting all their eggs in just two baskets, Ashford and Maidstone. They left it all too late to cash in at the top and now they will be chasing the market down.

As to keeping a low profile, I bet they are, who would want the world knowing that your off loading property because you have to.

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I have not heard a thing; but my money is on them coming out of this with a negative bank account not positive. I half wish it, but it's more to do with the maths! Their mistake was putting all their eggs in just two baskets, Ashford and Maidstone. They left it all too late to cash in at the top and now they will be chasing the market down.

As to keeping a low profile, I bet they are, who would want the world knowing that your off loading property because you have to.

I think their mistake was to buy all those bloody houses! Seriously. They completely lost the plot.

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I think their mistake was to buy all those bloody houses! Seriously. They completely lost the plot.

nothing wrong with buying houses.

borrowing way too much is the problem.

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I think their mistake was to buy all those bloody houses! Seriously. They completely lost the plot.

Large landlords become the market when they go into buying mode.

They can keep buying at the high prices to maintain their house prics in existing stock, but that only works whilst they're being lent money...

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I think their mistake was to take a too simplistic view of the way the market works.

Their model of buying a house with a small deposit on an interest only mortgage, rent it out to cover the mortgage and then sell it later and pocket the capital gain works very well in a rising market. Even remortgaging to release some capital to fund more house purchases still works a rising market.

The problem is at some point, even in a rising market, you have to stop making aquisitions and let the house price rise, before you can sell for a capital gain.

I'm pretty sure the Wilson's left it too late to do this. They stopped buying properties when the mortgage market dried up and houses started levelling off/falling. Due to their habit of remortgaging they don't have a lot of equity in the houses they 'own'.

Buying a concentrated area wasn't the best idea, but if they had built up a steady business of letting houses making a reasonable return it would have been possible to off load certain sections of the business to other landlords without crashing the local market.

Their big problem was the assumption that house prices can only ever go up. They've blamed the credit crunch for some of their problems but in reality if banks keep lending an exponential amount of money to fund house prices, eventually there won't be any more money left to lend, so the problems the Wilson's faced were inevitible.

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I think this was the last sighting: http://www.guardian....s-judith-wilson

So they are offloading 1 by 1, hmmm that will take some time.

Of course Mr Wilson can claim that they have never suffered a Repossession.

they are called Orders for Possession.

Cars are repoed. Houses are Possessed.

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I think their mistake was to buy all those bloody houses! Seriously. They completely lost the plot.

Yes it is the greed factor which I hope will prove to be their downfall.

They could have stopped at a more modest amount of houses and forgot about the need to show their wealth with racehorses and Rupert the Bearesq suits but greed took over and lets just hope they end up in the financial position they deserve.

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Yes it is the greed factor which I hope will prove to be their downfall.

They could have stopped at a more modest amount of houses and forgot about the need to show their wealth with racehorses and Rupert the Bearesq suits but greed took over and lets just hope they end up in the financial position they deserve.

two sides to the greed.

first, the firm itself....IMHO, noting wrong with expanding a business...thats not greed, thats business.

second, the financiers who also saw an opportunity....these, of course, are the highly paid best of the best of the best.

what chance a stupid individual wanting a house to buy against the power of the second?

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I think this was the last sighting:  http://www.guardian.co.uk/money/2010/mar/06/buy-to-let-fergus-judith-wilson

So they are offloading 1 by 1, hmmm that will take some time.

this article tells a lot, over 13% rents in arrears, having meetings with lenders regarding possible delayed / non mortgage payments? & that was 2008, now with unemplyment going sky high it could be double or much higher, possiblity of loads of repos?

oh dear off the radar now. Lets wait a bit more when hpc is in full swing & we should hear something

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Is this a sign that their controversial empire is crumbling? No, says Fergus Wilson, 61, who says the difference between his borrowings and the value of his properties "is around £180m, although it was as high as £225m".

How does he calculate these numbers?

Now I'm not a maths teacher so I'm prepared to be corrected but

180000000 / 700 = 257142

Add in say 50% LTV, which going off previous statements from the Wilsons about refinancing seems generous, gives a value of over £500k per house.

Looking on Rightmove £150k seems a good rate for the 2 bed semis the Wilsons are fond of.

Not great with figures so if I'm horribly wrong here I wouldn't be shocked but isn't Fergus talking balls?

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How does he calculate these numbers?

Now I'm not a maths teacher so I'm prepared to be corrected but

180000000 / 700 = 257142

Add in say 50% LTV, which going off previous statements from the Wilsons about refinancing seems generous, gives a value of over £500k per house.

Looking on Rightmove £150k seems a good rate for the 2 bed semis the Wilsons are fond of.

Not great with figures so if I'm horribly wrong here I wouldn't be shocked but isn't Fergus talking balls?

...unless the difference is negative... :ph34r:

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King of BTL Speaks

Landlords who are looking at hitting the big time when it comes to property investment will look at one couple in the UK with mouths agog.

I have spent several mornings chatting with Fergus and gleaning some of his pearls of wisdom, gained from over two decades of investing in residential property and several more decades in business.

His final tip is probably the best.

If you are going to invest in property do it because you enjoy it. Only when you enjoy doing something are you likely to be prepared to put in the necessary effort and time to make the whole thing a success.

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So as I suspected, no recent news on them. You would expect them to keep a low profile as they get rid of their houses but they were happy for The Guardian to interview them only a few months ago.

We've talked a lot about their buying strategy on a number of other threads. I'm now interested in their exit strategy. I think we can all agree that if the banks had not been propped up with some remarkable measures then they would already be finished. They are therefore clearly not the housing geniuses people often like to make out (obviously I'm not talking about anyone on this site!) Anyone from Ashford know how the market is doing there, particularly in terms of volumes. Every day they hold on to a large portfolio means greater risk for them in my opinion. I wonder if they have already missed the boat.

Just yesterday an EA told me prices were going down in one part of central Scotland and volumes are obviously low. Wonder if it's the same in Ashford.

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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