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The Wilsons thread ---merged


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Dont believe what you hear in the media. The Wilsons are probably, in reality, over their heads in the brown stuff and are tired of being rediculed by sites like this

the wilsons probably know nothing of this site as they are as ignorant to this as they are to the damage they have done to the communities of ashford and the taxpayers of the uk who will be bailing out these losses via nationalised payments to the banks that supplied them without any deposit funding, and so crashed.

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The Wilson's desire to offload their BTL portfolio is not a recent development, this article from the Kent News suggests they were trying to find investors a year ago.

http://www.kentnews.co.uk/kent-news/We-will-not-flood-market-vows-millionaire-landlord-newsinkent17025.aspx?news=local

"Mr Wilson added he was now exploring working on a TV programme offering people financial advice." :D

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What I dont understand about this thread is we are not hearing anything from residents of Ashford. I can believe that nobody on this site knows them because I doubt if they have any friends.

But there must be people in Ashford who know more. IE their tenants who are moving out. Is the property up for sale or rent. If up to re-let are rents falling, rising or neutral. If up for sale are they selling and if so for how much?

Local estate agents must be in the know. Any of you prepared to tell us whats going on!

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I can believe that nobody on this site knows them because I doubt if they have any friends.

They prefer to stay in on evenings and read.

rich_list.jpg

New article at their solicitors website today.

Gullands.

http://www.gullands.com/news/view/205/Conveying-700-homes

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the wilsons probably know nothing of this site as they are as ignorant to this as they are to the damage they have done to the communities of ashford and the taxpayers of the uk who will be bailing out these losses via nationalised payments to the banks that supplied them without any deposit funding, and so crashed.

+1

I just pray that one of them gets cancer (preferably both, but it is wicked to ask God for too much all at the one time).

:D:D:D

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The thing that makes me doubt the worth of these people is the nature of the scheme, which is essentially a pyramid scheme relying on increasing values and to keep going. To end up with 500 or 1000 houses, let us assume they MEW so as to double their stock each year.

Sadly, this means that the vast majority were bought in the last two years and they have probably overpaid. Increased IRs would certainly take them out and their current survival is down to luck, not astute business judgement.

They were brave and intrepid BTLers, but deserve to go skint.

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The thing that makes me doubt the worth of these people is the nature of the scheme, which is essentially a pyramid scheme relying on increasing values and to keep going. To end up with 500 or 1000 houses, let us assume they MEW so as to double their stock each year.

Sadly, this means that the vast majority were bought in the last two years and they have probably overpaid. Increased IRs would certainly take them out and their current survival is down to luck, not astute business judgement.

They were brave and intrepid BTLers, but deserve to go skint.

If the masters of the Universe needed bail outs to stay afloat in the housing game...then the wilsons certainly wont survive

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They only needed bailing out because they had distributed all the capital they should have built up as wages and dividends over the previous decade.

I assume the Wilsons have done the same.

:lol:

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Edit : 'Fly by Night' has posted the interview

& started a seperate thread on it

http://www.housepricecrash.co.uk/forum/index.php?showtopic=127947

The Renegadeeconomist.com twitter update page says they 'Are going to interview Britain’s "Buy to let king" Fergus Wilson for this week’s talk show… 2009/10/13

http://renegadeeconomist.com/news/bloomberg-fed-release-borrowers-names.html/comment-page-1

Are going to interview Britain’s "Buy to let king" Fergus Wilson for this week’s talk show… 2009/10/13

-------------------------------------------------------------------------------------

'The Wilsons - Our Time has Come'

'Our time has come we're gonna

Walk in the sun, oh

I've packed my hopes,

We're ready to roll,

We're on our way

Make a little history

Each time we dare to dream

Tell everyone

Turn the spotlight on

Now our time has come

Our time has come'

:unsure:

...btw .. complaint about C4 news' non response is in.

Edited by Saving For a Space Ship
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They prefer to stay in on evenings and read.

rich_list.jpg

New article at their solicitors website today.

Gullands.

http://www.gullands.com/news/view/205/Conveying-700-homes

2005/06 they were at their peak (almost), judith was flying high, I love that pic, I'm sure it epitomizes the era to most hpc'ers

quote - "We have already received a number of approaches from investors, including a consortium of professional footballers and funds from Russia and the Far East,”

funds from far east....?? isn't that a new? I thought it was footballers or bank consortium or a pension company or investors from Russia or Bulgaria, he'll definitely be selling 10 times over at this rate!

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  • 4 weeks later...

Mortgage arrears of couple who rode the buy-to-let boom estimated at £350,000

Daily Mail, November 14th 2009

They are the buy-to-let tycoons who became one of Britain's wealthiest couples by acquiring an empire of hundreds of homes. At one point Fergus and Judith Wilson even overtook the Beckhams in a husband and wife Rich List, with a personal fortune estimated at £180million.

But it seems the former maths teachers may have got their calculations wrong, with dozens of properties lying empty and others on the brink of being repossessed. The Daily Mail has learned the couple are up to £350,000 in arrears on their monthly mortgage payments with one lender.

Mortgage Express, owned by Bradford & Bingley, has sent a final warning letter to the couple, who are believed to have 177 of their properties mortgaged with the bank. The letter means the Wilsons must find the money quickly or risk a large chunk of their Kent-based property empire being seized.

Racehorse fanatic Mr Wilson, 61, says he is an innocent victim of the postal strike. Unusually, he pays his mortgage by cheque - and says the money has been delayed in the post. He insisted recently: 'We are not a penny behind on our loan payments.'

This week, he admitted receiving letters threatening repossession, but said: 'There are still a lot of cheques in the post. This takes time to process on the bank's side and this can come up as being in arrears when we are not.'He called the letters 'more reminders than threats', adding: 'When I've checked, they've usually been paid anyway.'

Dozens of the homes - many of which are owned by Mrs Wilson, 59, and her daughter Tanya, 37 - are lying empty on large housing estates in Ashford, Kent. Some are in disrepair and have been 'void' for months. One Ashford estate agent said: 'I hear they're in really big trouble. You only have to look at the number of empty homes they've got to see it.'

Just weeks ago Mr Wilson issued a bleak warning to his fellow landlords: 'We are reasonably safe, I think. If we go under, then everyone's going under.' The couple announced in September they planned to sell off their property empire of up to 900 homes as 'the time is right for us to go'. They value the 177 properties with Mortgage Express at £34.4million, but independent valuations say this is on the high side.

Edited by Little Professor
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Pays his mortgages by cheque, what a laff. He's a card isn't he. When we get confirmation of their downfall I propose a meet up.

Build a bonfire, build a bonfire

put the baaankers on the top

put the Wilsons in the middle

and burn, the ruddy lot.

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