The Wilsons - 875 buy to let property empire

Kez100

But let at a profit one day may not be the next.

Once they have to remortgage - which with 900 properties, unless they tied themselves to long term deals, they must be almost doing weekly - it is going to depend on what deal they can secure and if they have to revert to SVR at all. If they don't revert to SVR where are they sourcing the deals - are there any good ones for BTL anymore?

There may then be no profit on letting or a lot less profit than before.

Trollfever

As we have just bought the B & B BTL mortgage book, we could own the properties.

dopester

Trollfever wrote: »

As we have just bought the B & B BTL mortgage book, we could own the properties.

And I doubt the Government will have sympathy for the original Mummy and Daddy of mass BTL, the architects of MEW, the repeated press-encouragers of the strategy that perhaps, because of their genius maths background, helped convince others and also maybe encouraged lenders to believe a bit of the hype.

If the Government ever wanted a big target to take out its fury for where it finds itself now....

PasturesNew

Trollfever wrote: »

As we have just bought the B & B BTL mortgage book, we could own the properties.

As owners, it's a shame we can't just log onto a website, key in a name and up pops the addresses, loans and details

carolt

Gorgeous_George wrote: »

I don't see what th problem is IF they bought properties that they could let at a profit.

By all means they could sell a few - but only those that are difficult to let at a profit (assuming they are not also difficult to sell).

GG

Ah - but they didn't..... From the Guardian article above:

"Like many other buy-to-let investors, he built his portfolio for capital gain rather than rental yield, but sees little chance of such appreciation in the next few years. So rather than wait until long into his retirement, he's taken the decision to start selling."


Wonder where they're going to find not just one buyer but 900 in just one area in this market?

Generali

carolt wrote: »

Wonder where they're going to find not just one buyer but 900 in just one area in this market?

Say you're in the market for a 2 bed terrace right now. Given that prices have fallen by, say, 10-15% in the past year, what would you pay compared to the last sale price for a house in that terrace? 20% less?

The trouble is, if they sell a place at 20% below the last sale price acheived, that becomes the last price. What then?

PasturesNew

Generali wrote: »

Say you're in the market for a 2 bed terrace right now. Given that prices have fallen by, say, 10-15% in the past year, what would you pay compared to the last sale price for a house in that terrace? 20% less?

The trouble is, if they sell a place at 20% below the last sale price acheived, that becomes the last price. What then?

And that is how they made their equity on the way up.

carolt

Obviously not heard of the dangers of putting all one's eggs in one basket.

Ah well, it will be a learning experience for them.

Ian_Griffiths_Halifax

carolt wrote: »

Obviously not heard of the dangers of putting all one's eggs in one basket.

Ah well, it will be a learning experience for them.

They shelled out a load of money and their empire is now being scrambled. They poached all the homes from the FTBers and now the yolk is on them.

PasturesNew

Ian_Griffiths_Halifax wrote: »

They shelled out a load of money and their empire is now being scrambled. They poached all the homes from the FTBers and now the yolk is on them.

I'll get his coat everybody ... TAXI!!!!