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The Wilsons

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35 minutes ago, ste said:

Must be an old video. Surely he’s sold all of his properties to that Chinese consortium years ago.  

' 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 £34.4m, but independent valuations say this is on the high side.'

This is from 2009 and there is also an article from around that time or maybe earlier where Fungus admitted that if interest rates had not fallen and he was able to do a deal with the bank they would have gone under .... so yes we bailed the bastards out.

The one comfort I take is that he still seems like a very bitter man who hates everyone and has no joy in his life and may that continue until his demise ...

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4 hours ago, TheBlueCat said:

Guess what, Fergus is going to sell his houses.....again!

https://www.kentonline.co.uk/maidstone/news/landlord-to-stop-letting-properties-191806/

Do you get the impression that nobody will work for him?  Here is his stated trigger for selling:

 

However the sudden loss of three maintenance staff members has moved the Boughton Monchelsea landlord to stop letting and start selling.

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8 minutes ago, Fully Detached said:

Well the Chinese, Russians and Arabs have all come and gone. Who is he going to sell to this time, a consortium from the Isle of Wight?

It says they have dropped from 1,000 to 400 so presumably they did sell a chunk to the Chinese.

Either that or they have been falling down.

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Just now, Frank Hovis said:

It says they have dropped from 1,000 to 400 so presumably they did sell a chunk to the Chinese.

Either that or they have been falling down.

Possibly, but when did he start trying to sell, 3 or 4 years ago? My guess is the majority of them were sold at auction or in multiples of less than 10. If he'd sold a shit load to a large consortium he'd have been all over the papers bragging about it. In addition, anyone buying large numbers would want a hefty discount per unit - presumably a bit of a problem when you're leveraged up to the knackers.

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1 hour ago, Frank Hovis said:

Do you get the impression that nobody will work for him?  Here is his stated trigger for selling:

 

However the sudden loss of three maintenance staff members has moved the Boughton Monchelsea landlord to stop letting and start selling.

I just read it as a poor attempt at a Brexit article for Remainers and Brexiteers

Quote

All three workers, who were from Romania and Hungary, have opted for jobs in Europe.

(err, I hate to tell you, KoL and Fergus, we are Europe, but maybe in your heart of hearts you aren't?)

 

Quote

"Maybe they're going because of Brexit, but on the whole I don't know.

 

Quote

"I've noticed a lot of eastern Europeans who tend to come over here for a short amount of time, earn enough money and then return to their home country.

"I had a Bulgarian tenant who stayed in the UK for a year and in that time made enough money to buy three homes in Bulgaria."

 

 

Edited by Hopeful

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1 hour ago, Fully Detached said:

Well the Chinese, Russians and Arabs have all come and gone. Who is he going to sell to this time, a consortium from the Isle of Wight?

Now now, this isnt Tesla you know.

I wish Wilson'd just die already, carnt we just mail him some laced Ginsters pies or something, you know he wouldnt be able to resist..

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2 hours ago, Frank Hovis said:

It says they have dropped from 1,000 to 400 so presumably they did sell a chunk to the Chinese.

Either that or they have been falling down. 

Always be wary of rounded numbers in the MSM. Fact checking is not their forte.

2 hours ago, Fully Detached said:

Possibly, but when did he start trying to sell, 3 or 4 years ago? My guess is the majority of them were sold at auction or in multiples of less than 10. If he'd sold a shit load to a large consortium he'd have been all over the papers bragging about it. In addition, anyone buying large numbers would want a hefty discount per unit - presumably a bit of a problem when you're leveraged up to the knackers.

I bet he hasn't sold any of them.

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42 minutes ago, spunko said:

I bet he hasn't sold any of them.

Somebody on ToS used to keep an eye on the local auctions for Wilson houses, and from memory there was a fairly consistent stream of them going on sale. I guess they were probably putting any houses that became vacant up for auction to see what they could get for them.

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8 hours ago, TheBlueCat said:

Guess what, Fergus is going to sell his houses.....again!

https://www.kentonline.co.uk/maidstone/news/landlord-to-stop-letting-properties-191806/

Really hard to get a true story.

All I can guess is that the banks have been calling the shots since 2009ish.

I read that as he's no longer pretneding to own houses and the banks have told him that they want houses on the market a soon as they become empty.

I reckon that, when its all over, he'll be bankrupt.

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1 hour ago, Fully Detached said:

Somebody on ToS used to keep an eye on the local auctions for Wilson houses, and from memory there was a fairly consistent stream of them going on sale. I guess they were probably putting any houses that became vacant up for auction to see what they could get for them.

Quick search on RM for 10miles around Ashford doesnt have any of the kind of new builds he bought up.

https://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^57&radius=10.0&includeSSTC=true&mustHave=auction

6 minutes ago, spygirl said:

Really hard to get a true story.

All I can guess is that the banks have been calling the shots since 2009ish.

I read that as he's no longer pretneding to own houses and the banks have told him that they want houses on the market a soon as they become empty.

I reckon that, when its all over, he'll be bankrupt.

I think he will die before that, in his 70s and hardly looks a picture of health.

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1 hour ago, Fully Detached said:

Somebody on ToS used to keep an eye on the local auctions for Wilson houses, and from memory there was a fairly consistent stream of them going on sale. I guess they were probably putting any houses that became vacant up for auction to see what they could get for them.

Yeah there's usually a good following on ToS to keep track of the auctions, I presume they're under a lot of financial pressure by his financiers to sell.

There isn't a mythical big China/Middle East buyer for his portfolio.  They're a busted flush.

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3 minutes ago, JFK said:

Yeah there's usually a good following on ToS to keep track of the auctions, I presume they're under a lot of financial pressure by his financiers to sell.

There isn't a mythical big China/Middle East buyer for his portfolio.  They're a busted flush.

So long as interests rates are next to nothing he will be keeping his head well above water. Dont think he has been buying since 2007, hence even the last ones he purchased have had 11 years of HPI and 11 years to pay down the debt.

Sad fact is he has made out like a bandit at the expense of taxpayers, workers and families being able to own their own house at a price that wages could afford.

He is the prime example of the kind of people who have been bailed out by the Labour party .... and then the Tory party.

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29 minutes ago, spygirl said:

Really hard to get a true story.

All I can guess is that the banks have been calling the shots since 2009ish.

I read that as he's no longer pretneding to own houses and the banks have told him that they want houses on the market a soon as they become empty.

I reckon that, when its all over, he'll be bankrupt.

I think I said somewhere else that his best bet is to die before most of his interest only mortgages come due. What is known with a fair degree of certainty is that the houses are owned directly by him and his immediate family members so, every time one sells, there will be CGT to pay. Working on the basis that he's spent most of the incoming rent and was originally mortgaged up to the eyeballs across the whole portfolio, he won't have the free cash to stay solvent if he sells them all at once.

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10 minutes ago, TheBlueCat said:

I think I said somewhere else that his best bet is to die before most of his interest only mortgages come due. What is known with a fair degree of certainty is that the houses are owned directly by him and his immediate family members so, every time one sells, there will be CGT to pay. Working on the basis that he's spent most of the incoming rent and was originally mortgaged up to the eyeballs across the whole portfolio, he won't have the free cash to stay solvent if he sells them all at once.

No. They are not owend by him.

He's on record as saygnall / most are IO.

Hes also on record saying that he was nearly bust when the mortgage cost was over 3%.

 

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