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spyguy

Fergus 'close To Selling'

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http://www.ft.com/cms/s/0/33dfa8fe-4191-11e4-b98f-00144feabdc0.html

Really worth reading. The FT must be trialling some junior reporter on this one.

My text as its the FT.

'highly possible and approaching probable' Whatever that means.

He's had 3 approaches on Friday + Saturday. All from China.

' “It will get to crunch point where we agree a price and it has to be quick, because property prices are going up all the time,” he added. “We’re likely to go with someone who does not have to raise the money.” '

???

Minimum he'll accept is 250m.

Used rightmove to work the valuation.

'Not desperate to sell'. Hold me back, hold me back . . .

Would need to repay 40-45m to | 14 lenders. I call BS on that.

Here's the best: Surge in interest was caused by the flotation of Alibaba on Friday!!!!!!!!

Jack Ma is Ashford's new slumlord?

Oh there's a consortium of footballers too.

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Fergus is in trouble with mortgage express who are winding up their books and want Fergus 50m off the books asap. Lots of landlords are having to sell due to mortgage express winding down.

Fergus faces the problem that all his stock is located in one area so offloading just the 50m of properties would crash the local market and devalue the rest of his portfolio, that's why he needs to offload the lot at once.

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Nice of him to get a free advertorial in the Ft and other rags.

Yes, how nice, glad I don't pay for this shit.

Can't remember the last time I bought a paper. Quite hoenstly it would be no loss if they kept all of their crap behind a paywall, including the titles, where they belong.

Edited by onlyme2

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Sounds like an estate agent. "We've had sooo much interest in this property, better be quick!" as they blow dust off of the folder of particulars.

If he was selling he'd just do it. If he is casting for a buyer he'd look to place an advert in places he'd expect a potential buyer to look. Hence FT. Unfortunately, this isn't a used car fergus. Circling the plughole.

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Minimum he'll accept is 250m.

Maybe this is where the Tesco quarter of a billion has gone?

I would have thought that any clued-up financial firm would realise that this guy is in a lot of trouble with so many houses. He is the Man Utd of BTLs isn't he? Once IRs rise the debt becomes unsustainable and then anyone who wants his properties will be picking them up for a fraction of current asking prices?

Or have I missed something?

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Yes, how nice, glad I don't pay for this shit.

Can't remember the last time I bought a paper. Quite hoenstly it would be no loss if they kept all of their crap behind a paywall, including the titles, where they belong.

+1

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Oh there's a consortium of footballers too.

Fresh from a Robbie Fowler seminar presumably........

If you're looking for suckers footballers and Chinese wanting to stash their loot are usually top of the list.

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Maybe this is where the Tesco quarter of a billion has gone?

I would have thought that any clued-up financial firm would realise that this guy is in a lot of trouble with so many houses. He is the Man Utd of BTLs isn't he? Once IRs rise the debt becomes unsustainable and then anyone who wants his properties will be picking them up for a fraction of current asking prices?

Or have I missed something?

United's remaining debt (£350m or so) is in bonds so rising interest rates are irrelevant.

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Be pleased. It could have been Arabs. Or Russians!

Or regular folk looking to buy a home? :)

Says he’s walking away with £100 million after all deductions.

“Mr Wilson said he and his wife would need to repay around £40-45m to about 14 lenders. After paying tax and disposal fees, he said he hoped to walk away with at least £100m in profit “which should be enough to pay for fish and chips for the rest of my life”.

http://www.propertytribes.com/chinese-investors-buy-fergus-wilson-property-portfolio-for-t-12353.html

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Comedy Gold.

Man with dog s**t says my dog sh*t is gold plated and someone in China wants to buy it.

Get in before chinese steal my golden dog sh*t at bargain price.

Has someone been on a sales course recently ?

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Says he’s walking away with £100 million after all deductions.

“Mr Wilson said he and his wife would need to repay around £40-45m to about 14 lenders. After paying tax and disposal fees, he said he hoped to walk away with at least £100m in profit “which should be enough to pay for fish and chips for the rest of my life”.

http://www.propertytribes.com/chinese-investors-buy-fergus-wilson-property-portfolio-for-t-12353.html

He had posted the full article up himself, over on that thread.

Get stuck in Mortgage Express/UKAR; apply some heavy duty fees where you can.

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He had posted the full article up himself, over on that thread.

Get stuck in Mortgage Express/UKAR; apply some heavy duty fees where you can.

I took the quote from his post seeing as how we can not quote FT stuff but Fergus can :) . Seems UKAR have picked JP Morgan as their preferred bidder. I was wondering if the sell off had any bearing on the Wilson's decision to sell?

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11100436/Taxpayers-bad-bank-closes-in-on-1.6bn-mortgage-sale.html

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I took the quote from his post seeing as how we can not quote FT stuff but Fergus can :) . Seems UKAR have picked JP Morgan as their preferred bidder. I was wondering if the sell off had any bearing on the Wilson's decision to sell?

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11100436/Taxpayers-bad-bank-closes-in-on-1.6bn-mortgage-sale.html

UKAR should invite Fergus in to conduct the negotiations on their behalf. I'm sure Wall Street hasn't seen the like and he'd be able to bamboozle them with 'logic'.

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UKAR should invite Fergus in to conduct the negotiations on their behalf. I'm sure Wall Street hasn't seen the like and he'd be able to bamboozle them with 'logic'.

Briliant. :) And if negotiations don't go his way, he can just thump them.

Is that Lilly Savage posting on that other forum?

The Lily & Fergie show

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