The Wilsons - 875 buy to let property empire

Pimperne1

experience08 wrote: »

Any NEW NEWS on the The Wilsons empire?

"We were going to be, to put it bluntly, stuffed. The reason we were saved was the drop in interest rates," Fergus says. He is now paying an average of just 2% interest. "I earn a yield from rents of around 5% and pay 2% in interest. The average mortgage cost is about £300 per month with £800 income. This gives about £300 per unit per month after paying agent and repairs etc. The renting game has never been better. I do not have one house available to rent in Ashford, Maidstone or Hawkinge."

http://www.guardian.co.uk/money/2010/mar/06/buy-to-let-fergus-judith-wilson

I assume as IRs are likely to remain very low for the foreseeable then the Wilson's are safe for a while yet.

Turnbull2000

I'd assume rates will stay low for a very long time. The Wilson's are basically quids in now - esp as rents will likely rocket over the next few years.

PasturesNew

Jammy, undeserving, barstewards.

experience08

PasturesNew wrote: »

Jammy, undeserving, barstewards.

Blame that ***hole Mervyn King....and his QE up his back side.

Turnbull2000

PasturesNew wrote: »

Jammy, undeserving, barstewards.

Jammy? Don't you mean canny? They probably assumed that the government (Tory or Labour) will do whatever it takes to protect borrowers, investors and property values. This assumption is looking pretty much spot on. The Wilson's must be feeling pretty smug right now - and rightly so.

heathcote123

Pimperne1 wrote: »

"We were going to be, to put it bluntly, stuffed. The reason we were saved was the drop in interest rates," Fergus says. He is now paying an average of just 2% interest. "I earn a yield from rents of around 5% and pay 2% in interest. The average mortgage cost is about £300 per month with £800 income. This gives about £300 per unit per month after paying agent and repairs etc. QUOTE]

It does take quite a high calibre of moron to build a BTL empire that goes tits up @ 5% rates.

£200 per property per month looks ridiculously high in fees and repairs.

But fair play to him, he took a punt, and for the meantime he's winning.

HAMISH_MCTAVISH

Turnbull2000 wrote: »

Jammy? Don't you mean canny? They probably assumed that the government (Tory or Labour) will do whatever it takes to protect borrowers, investors and property values. This assumption is looking pretty much spot on. The Wilson's must be feeling pretty smug right now - and rightly so.

The housing market is such a large part of GDP it's impossible to allow it to crash significantly without taking down the wider economy.

Minor corrections of a few percent a year will be allowed to happen.

Significant crashes will see everything up to and including the kitchen sink thrown at the problem.

crash123

HAMISH_MCTAVISH wrote: »

Significant crashes will see everything up to and including the kitchen sink thrown at the problem.

Stagnant growth for years and years. Got to keep the ponzi pyramid scheme going.
The lemmings seem to think ever higher house prices are a good thing. Would Sibley be one of these?
Can`t wait for a 3 bed semi to be 2million+ - great fantastic.NOT

geneer

Pimperne1 wrote: »

"We were going to be, to put it bluntly, stuffed. The reason we were saved was the drop in interest rates," Fergus says. He is now paying an average of just 2% interest. "I earn a yield from rents of around 5% and pay 2% in interest. The average mortgage cost is about £300 per month with £800 income. This gives about £300 per unit per month after paying agent and repairs etc. The renting game has never been better. I do not have one house available to rent in Ashford, Maidstone or Hawkinge."

http://www.guardian.co.uk/money/2010/mar/06/buy-to-let-fergus-judith-wilson

I assume as IRs are likely to remain very low for the foreseeable then the Wilson's are safe for a while yet.

Old news.


Tried and failed to sell their "empire" off, then had to drip feed them out, whilst being propped up by the banks.

Plonkers.

macaque_2

HAMISH_MCTAVISH wrote: »

The housing market is such a large part of GDP

Any economy that relies on house trading to pay policemen and nurses is on a road to ruin. Even the most ardent bulls will grow tired of floorboards and chips in the end.