Meet the Wilsons Part2 - Fergus goes mad on Radio 5

brit1234

Fergus Wilson - Britians biggest Landlord bails out late.

Fergus Wilson is selling his 900 properties in Ashford. He admits buy to let is dead.

However if you want a laugh listern to him ramble on how only flats and big houses are falling in value but his 2 bed houses are all going to go up next year.:rotfl:

http://www.bbc.co.uk/iplayer/episode/b00dscq6/Wake_Up_to_Money_09102008/
22.20 mins in

:exclamatiThis is Fergus Wilson actual voice and not a comedy voice over or modified in any way for comedy effect.:exclamati

TDS_2

lol! Listening right now...

TDS_2

Why was this muppet given £150m by the banks?!

brit1234

TDS wrote: »

Why was this muppet given £150m by the banks?!

Because the banks were racing against each other to gain as much market share as possible, so they were continuing to lower standards to get more business.

How can he say 2 bed houses aren't falling in value when he is going to sell 900 in one small area (Ashford, Kent)? This guy might have a vested interest in saying this I think.:rotfl:

Strange how he said his houses had gone down £5,000 in june on interview below.

http://news.bbc.co.uk/1/hi/business/7432256.stm

obsessed_saver

haha. Funny listening to him.

GDB2222

TDS wrote: »

Why was this muppet given £150m by the banks?!

If you listen carefully to the point in the interview when he gives that £150m figure, he seems rather hesitant ... what conclusion could you reasonably draw from that?

TDS_2

This guy should have started selling these in 2004/5, a few every month. It's a technique called drip-feeding(!) Drip-feed in when prices are low, drip-feed out when prices are high. Now he's in serious danger of flooding the market - If the values haven't fallen already (they have) they'll tumble when 900 fresh houses come on rightmove.

GDB2222

What also seems extraordinary is his assertion that the houses are worth £250 mill. That's around £280k each on average, which seems extremely high for 2 bed houses in that area - like double!

Finally, can anyone explain why he continues to make a fool of himself appearing on the meeja?

Kez100

Profile.

He'll be on I'm a Celebrity Get me Out Of Here next.

Or can we rely on this crisis to rid this country of vulgar reality TV too?

ad9898_3

GDB2222 wrote: »

If you listen carefully to the point in the interview when he gives that £150m figure, he seems rather hesitant ... what conclusion could you reasonably draw from that?

His hesitancy is probably due to him lying to think of a figure that sounds a little better than it is.

If he has 150 million tied up in 900 houses that are all in the same area (cretinous decision), then comes on the radio to say 'buy to let is over and I'm selling' (even more cretinous), he is in deep deep trouble.

His houses have lost at least 10-15% already from peak, selling prices are on average 10% below asking prices, so there is 20-25% straight away, then add in at least 1% drop a month for the forseeable future, add in all his re-mortgaging issues that he will have, did I say he was in trouble ??

I look forward to seeing him DFW board, his SOA will make entertaining reading.

Kez100

I wondered where Horseinhatman was. He has been sat in the BBC Radio waiting room until he got his chance to speak.