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The Wilsons

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Sounds like desperate times are up ahead.

if they're so rich why the stress for selling up? Recent run ins with the court taking their toll?  Need to pony up readies in cash / cleared funds for those court fines Judith!!!

46 minutes ago, Adarmo said:

Hope he dies before he realises his gains. 

Fat feckless entitled cunt. 

Absolutely.

Fucking fall over and croak you fat cunt of a whale

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Just now, Happy Renting said:

They may well sell their portfiolio to a business investor, rather than on the open market.

Discussed many times but seems unlikely due to each house being directly owned by one of the Wilson family. A business investor would be very unlikely to want the grief of 300 individual conveyances. It’s also distinctly possible fungus is underwater if you take CGT at his top rate of tax into account meaning that he has to sell incrementally (with them emphasis on the mental part) over many years to get the most amount of post-tax cash out.

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4 minutes ago, TheBlueCat said:

Discussed many times but seems unlikely due to each house being directly owned by one of the Wilson family. A business investor would be very unlikely to want the grief of 300 individual conveyances. It’s also distinctly possible fungus is underwater if you take CGT at his top rate of tax into account meaning that he has to sell incrementally (with them emphasis on the mental part) over many years to get the most amount of post-tax cash out.

:Jumping:

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10 minutes ago, TheBlueCat said:

Discussed many times but seems unlikely due to each house being directly owned by one of the Wilson family. A business investor would be very unlikely to want the grief of 300 individual conveyances. It’s also distinctly possible fungus is underwater if you take CGT at his top rate of tax into account meaning that he has to sell incrementally (with them emphasis on the mental part) over many years to get the most amount of post-tax cash out.

Hes a 'portfolio LL''

The banks changed their rules to allwo them to consolidate the loans when a single BTL loan is sold.

I guess the reason why is they want ot get to the front of creditor queue knowing the LL are going to run out of assets eventually.

Not that a bank owns Fattys mortgages - IIRC they are all mortgage express which was the 'racier' lending division of Bradford and Bingley, which, for some surprising reason went very bust in 2008.

https://www.property118.com/mortgage-express-assets-sold-11-8-billion-bradford-bingley-deal/97038/

 

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Posted (edited)
7 hours ago, spunko said:

Ashford isn't a huge place, 300 houses all within the town being placed on the market in one day will cause other prices to be reduced.

...That is, assuming what he is saying is correct. In 99.999% of cases what he says and what does, are worlds apart.

I'm not sure whether he's an ex-pikey or not. According to the comments on that link, he funded the first few BTLs through earnings from "racing pigeons".

.

Edited by Long time lurking

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8 minutes ago, spunko said:
Quote

Speaking about selling off the Ashford homes, Mr Wilson said he is in talks with businessmen from India and Nigeria. 'They'll buy the lot just as soon as they've managed to get the funds out of the country. With the £30,000 I've paid them for the paperwork, the £7 million should be in my bank by Monday'

 

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3 minutes ago, spunko said:

£30k on legal fees for 300 homes doesn't sound right either...

 

Oh boo I thought it was an actual quote. More fool me but sometimes it's hard to tell the ridiculous form the even more ridiculous where Fergus Wilson is involved.

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3 minutes ago, Fully Detached said:

 

Oh boo I thought it was an actual quote. More fool me but sometimes it's hard to tell the ridiculous form the even more ridiculous where Fergus Wilson is involved.

Apologies but it was just too tempting to let it pass. It's also quite possible their 'negotioations' are exactly that.

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He’s talking about selling batches rather than the whole lot in one go which does at least sound plausible. The India or Nigeria bit makes me think it’s BS though - why do his buyers always come from overseas? My guess is that he’s continuing to sell a few at a time whilst he shuffles money around to pay taxes and keep up with interest payments. If he’s lucky, he’ll get rid of them all before his loans come due (5-10 years for most ata guess), if he isn’t he’ll get repoed and go bust.

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