The Wilsons - 875 buy to let property empire

1sue23

I was born in the 50,s and remember clearly in my teens discussions between my parents and my grandparents [my grandmother was a labour counseller in the labour party and at one time on a committee on housing ] she was opposed the selling off of council homes said that it would lead to a time bomb to the greed of landlords in the private sector, lack of affordable housing for those in need and that we would pay the price in years to come ,at the time I did not take a lot of notice but having read this story I think she was right ,maybe with more social housing the likes of this pair would not have got away with it.

mewbie_2

Property Bee for Ashford shows a lot of stuff for sale, with lots of drops and Sold STC becoming Available again. I guess if you drip fed say 10 houses a year into that market you might be able to offload them all in only 90 years...

GDB2222

ad9898 wrote: »

they will both be drinking White Lightening cider from a plastic bottle on a park bench near you soon.

I can forgive them their greed, etc. After all, they've had their race horses and grand house, their moments of fame, etc. Even if they go bust now, you can't take that away from them. They've done something quite extraordinary, and they deserve a measure of admiration for that.

I'm not convinced I can forgive them for being such awful landlords (if the stories I have heard are true - please don't sue!) No admiration for that.

Kez100

They have also saved hundreds of children from being taught Maths by two teachers who don't understand historical data graphs.

fatpig_2

So it looks like King Kev might have been right for once! Yippee!







" I'd love it if these two vultures went bankrupt.

I'D JUST LOVE IT! "

MissMoneypenny

They might have enough money left to buy themselves some "credit crunch" comfort food chocolate

http://www.channel4.com/news/articles/business_money/credit+crunch+aids+chocoholics/2487667

MissMoneypenny

mewbie wrote: »

Property Bee for Ashford shows a lot of stuff for sale, with lots of drops and Sold STC becoming Available again. I guess if you drip fed say 10 houses a year into that market you might be able to offload them all in only 90 years...

It also shows asking rents dropping for 2/3 beds in Ashford and Hawkinge (which is another place where they own a lot of properties).

lynzpower

I wonder if they are the reason Mortgage Express/ B& B are going under? If they are the biggest number of MX mortgage holders and they are defaulting then that could explain why a) b & b suddenly went pear shaped and b) why the wilsons are saying about selling up all of a sudden.

:eek: this is really scary stuff.

How can one couple borrow so much in the same small catchment. All it would take would be for the government to plan another coal power station in their backyard to batter that portfolio. Having swathes in the same borough makes really poor strategic sense, let alone finacial sense.

I cant quite take in how they were able to borrow SO SO much

MissMoneypenny

lynzpower wrote: »

:eek: this is really scary stuff.

How can one couple borrow so much in the same small catchment. All it would take would be for the government to plan another coal power station in their backyard to batter that portfolio. Having swathes in the same borough makes really poor strategic sense, let alone finacial sense.

I always thought they were buying on the Eurostar route - Ashford and Folkestone (Hawkinge). It was always rumoured that if the fast trains came to those areas, then those areas would get rapid hpi. Unfortunately, the building of Ebbsfleet station took a lot of Ashford's and Folkestone's thunder.

GDB2222

lynzpower wrote: »

:eek: this is really scary stuff.

How can one couple borrow so much in the same small catchment. All it would take would be for the government to plan another coal power station in their backyard to batter that portfolio. Having swathes in the same borough makes really poor strategic sense, let alone finacial sense.

I cant quite take in how they were able to borrow SO SO much

Having it all in one location does make very good management sense, though, as it saves a lot of time travelling between properties.