Ash4781 Posted September 7, 2008 Share Posted September 7, 2008 http://www.yourcanterbury.co.uk/kent-news/...nkent15917.aspx Repossessions are on the rise across the county – and the worst may be yet to come, say housing experts.More borrowers are struggling to keep up with higher mortgage repayments brought on by the credit crunch across the county’s eight districts – apart from in Maidstone and Ashford. According to the Ministry of Justice, the number of mortgage possession claims issued in Ashford has dropped 21 per cent in the second quarter of this year compared to the same period in 2007. But in Tunbridge Wells 22 per cent more homeowners’ properties are facing repossession. John Oakley, chairman of the east Kent branch of the National Association of Estate Agents, predicted worse may be to come. “The credit crunch has not really hit them yet and from the end of September to December you might project higher repossession rates. “I would not mind betting they would change at the end of September to December as the crunch starts to bite. “People cannot afford their [mortgage] repayments and cannot sell because the market is just not happening,” he said. The Council of Mortgage Lenders revealed the amount of homes being repossessed nationally has risen 48 per cent in the last year at the beginning of August. Mr Oakley said he was surprised Ashford had bucked the national and regional trend for mortgage possession claims rising. “If they had gone up then I would say it was because there is so much new building and promotion of high percentage mortgages that people cannot afford to live there. “But this is a contradiction,” he said. He speculated as to why Tunbridge Wells had seen such a sharp increase, suggesting the higher property prices in the area meant people had borrowed more to afford their homes and were now under increasing financial pressure. “It is one of the more expensive areas in the county and if you are going to buy you have to have a good income or borrow more money which puts more pressure on maintaining that lifestyle. “There’s a pressure to ‘keep up with the Joneses’,” he said. “These people bought into the good lifestyle, they go out to the wine bars and restaurants and are perhaps living beyond their means which is putting pressure on their disposable income.” Medway has seen no change since last year, in Dartford there was a 16 per cent increase, Canterbury has seen a rise of 17 per cent and in Thanet the number of people at risk of losing their homes has increased five per cent. The average rise in repossessions across the county is five per cent. Judith Armitt, managing director of Ashford’s Future, which is responsible for the regeneration of the town that will see it double in size by 2031, said: “Ashford is attracting a growing number of well-paid, skilled jobs, which means those living and working in the town are managing to weather the storm.” While the current downturn in the global economy, brought on by the sub-prime mortgage crisis, has left more Kent homeowners struggling this year than last the picture is much bleaker in other parts of the country. Cambridgeshire, Norfolk and Suffolk showed a 29 per cent increase in the number of property owners facing repossessions compared to 13 per cent for the South East as a whole. Quote Link to comment Share on other sites More sharing options...
Oxfordite Posted September 7, 2008 Share Posted September 7, 2008 Unfortunately for the homeowners of Ashford, when the Wilson's little empire collapses, so will the value of their homes. and why does that matter? Quote Link to comment Share on other sites More sharing options...
Tiger Woods? Posted September 7, 2008 Share Posted September 7, 2008 Always the problem with their strategy,they could never have exited the market without collapsing the value of the portfolio.Had they a spread across the South East they could have quietly got out in 2006-2007. A bunch of Russians offered to buy their portfolio a year ago or so...and they refused... Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted September 7, 2008 Share Posted September 7, 2008 A bunch of Russians offered to buy their portfolio a year ago or so...and they refused... havent seen them recently... have you? Quote Link to comment Share on other sites More sharing options...
Tiger Woods? Posted September 7, 2008 Share Posted September 7, 2008 havent seen them recently... have you? Nope...I bet lying in bed late at night the Wilsons wish they'd taken up the offer...at least I hope they do. Then again, would one want to have ripped off a bunch of mega-rich Russians? Quote Link to comment Share on other sites More sharing options...
Lone_Twin Posted September 7, 2008 Share Posted September 7, 2008 Nope...I bet lying in bed late at night the Wilsons wish they'd taken up the offer...at least I hope they do. Then again, would one want to have ripped off a bunch of mega-rich Russians? I'm wishing herpes on the Wilsons so hard that when they have sex it must sound like someone bashing two hessian sacks full of cockles together. . Remember kids, BTL = STD. . ST Quote Link to comment Share on other sites More sharing options...
andrewwk Posted September 7, 2008 Share Posted September 7, 2008 I'm wishing herpes on the Wilsons so hard that when they have sex it must sound likesomeone bashing two hessian sacks full of cockles together. . Remember kids, BTL = STD. . ST eewwww.... Quote Link to comment Share on other sites More sharing options...
Lone_Twin Posted September 7, 2008 Share Posted September 7, 2008 ST - just out of interest, how many of your posts contain the word Herpes? I'd be interested to see the ratio.Is the figure linked to HPI? That's a graph I'd like to see! Its a recent theme, my reasoning here: HPC Post . As a secondary motive I would like to get BTL ireversibly associated with sexual diseases in the minds of the public. . S (I have a dream) T Quote Link to comment Share on other sites More sharing options...
ralphmalph Posted September 7, 2008 Share Posted September 7, 2008 If you listen to the govt and doctors it seems that the youth of this country like flirting with STDS and do not see them as a worry. So you strategy may backfire a little and have the opposite effect. Quote Link to comment Share on other sites More sharing options...
marmite Posted September 7, 2008 Share Posted September 7, 2008 In light of 11 US banks so far being closed including the Bear Stearns problems. The announcement this weekend that Freddie and Fanny are going to be under goverment ownership does anyone really believe that the Wilsons have any hope at all of surviving No one will be their to bail them out. This was always only going to end one way for them. I believe the term is " Dead man walking " Any property investor that has not already left the sinking ship with the rats will be dragged down with it. Oh well it was fun for them while it lasted. If only they had learnt the fundementals of leverage Quote Link to comment Share on other sites More sharing options...
Steppenpig Posted September 7, 2008 Share Posted September 7, 2008 There really ought to be a dedicated forum for the "I hate the Wilsons" threads. Unfortunately when the rich (even if only illusionary) go bankrupt, they seem to manage to keep hold of a few assets rather than ending up living in the gutter as you'd wish. Quote Link to comment Share on other sites More sharing options...
watchittubbble Posted September 18, 2008 Share Posted September 18, 2008 I'm not too worried about the amount of properties they own, I'm just angry that I will have to move from one of their properties because they refuse to carry out any repairs. It seems ridiculous to me they they are still not caring if they lose tenants, surely that is not the way to go at the moment. they HATE spending money on repairs. same thing happpened to my family, asked for a repair to the property and they thought it would be cheaper to evict us they do it to everyone so dont take it personally Quote Link to comment Share on other sites More sharing options...
Si1 Posted September 18, 2008 Share Posted September 18, 2008 All they need to do though is to survive this period. Even if they wipe out every single penny of equity in the process. When prices start to rise they will be making millions of pounds a month on someone elses money. If the banks reprocess them, the banks will loose out, in the long term the banks are better backing the Wilsons.They seem to have got in at the exact right time, the early 90's. I was speaking to a collegue who said his son in law had just bought his 30th property this week. He said that he started 2 years ago and never uses his own money. Now, its people like that who are in real danger (but tbh he didnt sound concerned). My personal opinion is that one person shouldnt be allowed to take so much risk with someone elses money. They could just declare themselves bankrupt and start all over again in a few years and not suffer the full financial consequences. Its almost like a 50/50 chance of becoming a millionaire, but if you fail, you can flip the coin again in a few years time. what if they can't pay the mortgages? Quote Link to comment Share on other sites More sharing options...
Guest anorthosite Posted September 18, 2008 Share Posted September 18, 2008 The only exit strategy for them is to sell their own home and take all of their cash out of the country and do a runner. That's assuming they'll be able to sell it. The market may be flooded before they're able to find a buyer Quote Link to comment Share on other sites More sharing options...
watchittubbble Posted September 18, 2008 Share Posted September 18, 2008 Aye. Those cumts deserve to be cleaned out. Double every seven years. What a bluddy shower, eh? dont think fergus owns anything its all in her name dont think they are at all worried about going bankrupt after all the must have skimmed a large amount of cash off shore. i rented off them once and they booted me out because i wanted a repair carried out this is common practice for them their arrogance is astonishing and will bring down their empire of debt why dont we all email fergus and find out what he thinks is going to happen to the propery market fergus.wilson@btopenworld.com make sure that in the subject line of your email you type "rent" or "tenancy" i ve got nothing against rich ppl but these clowns are going down and then so willl the prices round here Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted September 23, 2008 Share Posted September 23, 2008 (edited) Date Number of prop' Value Sep-06 677 135m Dec-06 700/707 240m Apr-07 746 ? Dec-07 811 ? Jun-08 875 ? That's what I get from articles using google. edit: not sure about the 240m dec'06 Edited September 23, 2008 by Ash4781 Quote Link to comment Share on other sites More sharing options...
angrypirate Posted September 23, 2008 Share Posted September 23, 2008 the wilsons website account is suspended - looks like they havent been paying the bill. Do you think they might be tight on the liquidity front? Mwah ha, mwah ha ha, mwah ha ha ha ha ha Quote Link to comment Share on other sites More sharing options...
OMG Posted September 23, 2008 Share Posted September 23, 2008 (edited) the wilsons website account is suspended - looks like they havent been paying the bill. Do you think they might be tight on the liquidity front?Mwah ha, mwah ha ha, mwah ha ha ha ha ha Edited September 23, 2008 by OMG Quote Link to comment Share on other sites More sharing options...
Uriah Heap Posted September 23, 2008 Author Share Posted September 23, 2008 the wilsons website account is suspended - looks like they havent been paying the bill. Do you think they might be tight on the liquidity front?Mwah ha, mwah ha ha, mwah ha ha ha ha ha Do you have a link? (We realise it won't work!) Quote Link to comment Share on other sites More sharing options...
Uriah Heap Posted September 23, 2008 Author Share Posted September 23, 2008 Have we worked out how the Wilsons fund their purchases? Are they likely to be getting the margin call treatment? Quote Link to comment Share on other sites More sharing options...
Thread Killer Posted September 23, 2008 Share Posted September 23, 2008 Do you have a link? (We realise it won't work!) Quote Link to comment Share on other sites More sharing options...
yellerkat Posted September 23, 2008 Share Posted September 23, 2008 Link on THIS POST. This Account Has Been Suspended Please contact the billing/support department as soon as possible. Quote Link to comment Share on other sites More sharing options...
jpjh Posted September 23, 2008 Share Posted September 23, 2008 Thats ominous...... bouncing payments from thier bank account no doubt. Quote Link to comment Share on other sites More sharing options...
stew Posted September 23, 2008 Share Posted September 23, 2008 Link on THIS POST.This Account Has Been Suspended: Issue All Ports Alert Please contact the billing/support department as soon as possible. Quote Link to comment Share on other sites More sharing options...
The Colour Posted September 23, 2008 Share Posted September 23, 2008 I somehow doubt that they are unable to pay a website hosting bill. More than likely they have just decided that now is not a good time to be advertising btl seminars. Probably they haven't told their webhosts, just cancelled the direct debit, like the considerate souls they must be. Quote Link to comment Share on other sites More sharing options...
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