Meet the Wilsons Part2 - Fergus goes mad on Radio 5

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PasturesNew wrote: »

Has anybody calculated their potential CGT bill?

£5 million, if they got their asking price......... <insert witty comment at your leisure>

howler_2

PasturesNew wrote: »

Has anybody calculated their potential CGT bill?

You only pay CGT on a profit

Ian_Griffiths_Halifax

PasturesNew wrote: »

Has anybody calculated their potential CGT bill?

Could you just clarify? Is that their bill because they 'Can't Get Tenants'?

Ian_Griffiths_Halifax

Just thought actually. The B&B are picking up the bill for that.

elona

Any more news of the "genius couple?"

Kenny4315

I'll use my standard reply on this one :

toidI gnikcuF !!

Kenny4315

Best BTL deal at present is around 5.5% fees about £2.5k, for 2 years. That's with 30% deposit. So these clowns are well and truly $crewed.

:beer: Suppose I could rent them a flat but I'd charge them triple the going rate !!! :beer:

BTL isn't really dead those with any sense have it on hold, with cash in bank waiting, and next year will be taking full advantage of the market turbulence, when the BTL market becomes somewhat less competitive.

luvpump

Kez100 wrote: »

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

Yeah, where has he / she gone ?? As Search shows a closed account, "No record" ... In other words he has joined a lengthening list of posters who come on the forum thinking they are the property version of king Canute, then just as quickly vanish into the Ether once the cold hard reality of House prices crashing hits home... ..

sarkin

Someone was trying to tell me on another thread that the Wilsons where genius and how they had made so much money.

As far as I know they are still dancing with the devil.

baileysbattlebus

In September this year they appointed a firm of solicitors to look after their property affairs.

http://www.gullands.com/news/view/129/Buy-to-Let-millionaires-Choose-Gullands

I don't know whether that's to handle selling the properties or not.

So where’s the next hotspot, I ask? They pinpoint a small Kent town named Ebbsfleet, which has a 17-minute rail link to East London and, crucially, the 2012 Olympic site.
“If we were slightly younger we’d buy there now and sit on it for a few years,” Mrs Wilson says.

Roughly half their houses are mortgaged. Thanks to their extraordinary buying power, they can negotiate very low rates from mortgage warehouses.

The above quotes are from a Daily Mail interview last year
http://www.dailymail.co.uk/news/article-431224/How-maths-teachers-clocked-707-houses-240m-fortune.html

“I had a pigeon, Maidstone Monarch. In 1973, I entered her in a national race to the Cherbourg peninsula. She came first in the whole country. Out of 8,947 birds. I’ll never forget that figure. I made enough in prize money to buy our first house in Boughton Monchelsea, Kent.”

They continued to buy, but nothing lavish, although some were mortgage-free. “Rather than have 45% mortgages on them all, we had 85% mortgages on some, and none on the others, so half were unencumbered,” says Mr Wilson.

http://property.timesonline.co.uk/tol/life_and_style/property/article1131136.ece


The link is an old Times interview from 2003 - I thought it may be a bit more factual than a lot of the speculation that seems to abound about these two. They may or may not have been stupid - but if only half of their properties are mortgaged - then they may not have been as stupid as every one likes to think.

I've used both links - as both of them (4 years apart) say that half of the properties are mortgaged.

http://www.yourashford.co.uk/kent-news/We-will-not-flood-market-vows-millionaire-landlord-newsinkent17025.aspx?news=local