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Wilsons Will No Longer Accept Lha (Housing Benefit) Tenants For Their Properties

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Wow, they really are misery personified (from their wikipedia page):

At the time of writing (29 August 2013) the Wilsons have not paid £3000 court costs awarded to a gas engineer after they summonsed him for issuing an 'At Risk' notice on a flue at one of their properties that was dangerous and not in line with British Standards. They had tried to claim £5000 from him for making the property unrentable

Mirror article;

http://www.mirror.co...cessful-2234721

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So he is still hanging there. A couple of years back all the talk seemed to be he was going to drown in negative equity and unable to meet his mortgage payments.

I think he said at the time of the crash that the low interest rates pretty much saved his bacon.

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Sadly IIRC the banks reduced his mortgages rates rather than repossess, or put another way, you and I via our taxes saved him from going under ... ironically some these taxpayers (working at the time and since made redundant) could have been some of the people he is now going to evict.

Was that in the news?

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Why don't they just sell up? Their story was that they were teachers who wanted to make a few extra quid to get out of teaching.

Surely they can now sell up and not have to work again, they don't look very happy in their current situation so why stay in it? Spend the next few years cruising.

And they'll crash the Kent property market in the process :-)

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This is both bad and good news.

It's bad news for current tenants who will be evicted.

It good news as it puts more pressure on the [local] government to build public housing offering secure tenancies.

Basically the Wilson are sowing the seeds of their own destruction. In another note could Fergus be Sibley from the Express?

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I did a bit of research and according to this http://www.neighbour...dsFamilyId=1037 in 2010 in Ashford (where they own the majority of their houses) there were 2,240 housing benefit claims for private rentals.

By 2011 according to this; http://www.neighbour...dsFamilyId=2505 there were 6,173 households living in private rentals in Ashford. So we can assume that approx 36% of private rentals were getting housing benefit (and the media says that more and more people are claiming).

If the Wilsons really do go through with having no LHA tenants, they are going to have a lot of empty properties. Should be interesting.

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I did a bit of research and according to this http://www.neighbour...dsFamilyId=1037 in 2010 in Ashford (where they own the majority of their houses) there were 2,240 housing benefit claims for private rentals.

By 2011 according to this; http://www.neighbour...dsFamilyId=2505 there were 6,173 households living in private rentals in Ashford. So we can assume that approx 36% of private rentals were getting housing benefit (and the media says that more and more people are claiming).

If the Wilsons really do go through with having no LHA tenants, they are going to have a lot of empty properties. Should be interesting.

Yep LHA averages about 50% of rentals.

LHA IS the market.

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Added by khards on 2013-12-20 18:56:44

I think private landlords are doing the right thing not collecting rents from the public purse.

This will put more pressure on the much needed council housing being built.

Private landlords are then free to collect rents from those who can afford to pay.

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Basically the Wilson are sowing the seeds of their own destruction. In another note could Fergus be Sibley from the Express?

When Sibley used to post on HPC I was convinced Fergus and Sibley were actually one and the same.

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I think he said at the time of the crash that the low interest rates pretty much saved his bacon.

So no LHA and rates going up will probably fry his bacon? The Wilsons are going down, just a matter of time IMO, should cause a nice crash in the areas they own property?

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What happens if someone rents a place through them and loses their job then?

This I assume:

Wilson says he has given his tenants in receipt of housing notice to leave in the new year.

As others have said, I suspect he's going to have a lot of voids.

I can't overstate how much I am looking forward to interest rates going up.

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Has this by any chance this has been prompted by the Wilson's lenders in advance of UC etc.?

Why? Because it could affect the value of the portfolio (loan security) if tenants trash the place?

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