Meet the Wilsons Part2 - Fergus goes mad on Radio 5

dopester

neverdespairgirl wrote: »

Looking on RM, the absolutely most expensive 2 bed terrace in the whole of Hawkinge is on at £178k, and has been on since April without even going SSTC or under offer.

http://www.rightmove.co.uk/viewdetails-10282488.rsp?pa_n=1&tr_t=buy&mam_disp=true

At least that seller has been forced to wake up to the real-world, and cut their ludicrous asking price. £129,950 now.

It still doesn't stand out to me as any special sort of value, when compared against prices of similar properties in the area, and especially not in the wider context of deflation, rising unemployment and pay-cuts.

01 February 2009

* Price changed: from '£159,950' to '£129,950'

17 December 2008

* Brief Description changed: NO CHAIN!! NO STAMP DUTY !!!! Century 21 Canterbury are proud to introduce to the market this exceptionally well presented 2 bedroom mid terrace house. Situated in the popular location of Orr Close in the village of Hawkinge. Ask us about our unique property finding service! [Found by neverdespairgirl]

* Subtitle changed: from '2 bedroom terraced' to '2 bedroom terraced house ' [Found by neverdespairgirl]

01 December 2008

* Brief Description changed: NO CHAIN!! NO STAMP DUTY !!!! Century 21 Canterbury are proud to introduce to the market this exceptionally well presented 2 bedroom mid terrace house. Situated in the popular location of Orr Close in the village of Hawkinge. Ask us about our unique property finding service! [Found by rustica]

* Price changed: from '£178,000' to '£159,950' [Found by rustica]

novazombie

Could someone answer this, concerning landlords like the Wilsons.

Now that the base rate has come down the interest part of their mortgage will have also come down considerably. Will they have to pay more tax now?

How do the clever accountants keep people like this out of the 40% tax brct?

Or maybe the wilsons are in the highest tax brct?

Kez100

What makes you think they don't pay 40 per cent tax? Lots of people do.

Interest will only have fallen if they were on trackers/variables not if they are on fixed.

puddy

any update on these 2?

gunnaknow

bumpity bump

mewbie_2

Judith Wilson has a horse running in the Grand National...

http://www.the-racehorse.com/racing/features/2009_grand_national_entries

Or could that be owned by the N. Ireland beauty queen also called Judith Wilson?

http://news.uk.msn.com/odd-news/gallery.aspx?cp-documentid=11893019&imageindex=7

Where's Pastures when you need some proper info?

chewmylegoff

novazombie wrote: »

Could someone answer this, concerning landlords like the Wilsons.

Now that the base rate has come down the interest part of their mortgage will have also come down considerably. Will they have to pay more tax now?

How do the clever accountants keep people like this out of the 40% tax brct?

Or maybe the wilsons are in the highest tax brct?

fungus made some comment about the change in capital gains tax rate from 40% to 18% contributing towards his decision to start selling. companies don't pay CGT (they pay corporation tax on chargeable gains). this means that the properties aren't owned by a company but by him and his "wife" directly.

hence any rental income after costs is going to be taxed as normal, and at 40% if they earn enough between them (which one assumes they probably do) and any gains will be subject to CGT.

for what its worth, my view is that all this pair have done is screw themselves over. the fact that they bought pretty much every new build 2/3 bed house in the area over a number of years meant that they drove the price that they were paying up. now the FTB who the wilsons priced out will be able to pick up their properties for less as the price in the area will tank as the wilsons' properties come to market. ironically they may actually have helped a number of FTB who would now be in NE if they hadn't been outbid by fungus and his troll.

ad9898_3

This is all hush hush, but I wouldn't be surprised if the government (through Bradford & Bingley), are supporting these couple of !!!!!!, after all they owe the tax payer £165 million. I can't believe with Bovey going that these couple of pyramid sellers haven't gone to the wall. I smell a government rat.

torontoboy45

chewmylegoff wrote: »

fungus made some comment about the change in capital gains tax rate from 40% to 18% contributing towards his decision to start selling. companies don't pay CGT (they pay corporation tax on chargeable gains). this means that the properties aren't owned by a company but by him and his "wife" directly.

hence any rental income after costs is going to be taxed as normal, and at 40% if they earn enough between them (which one assumes they probably do) and any gains will be subject to CGT.

for what its worth, my view is that all this pair have done is screw themselves over. the fact that they bought pretty much every new build 2/3 bed house in the area over a number of years meant that they drove the price that they were paying up. now the FTB who the wilsons priced out will be able to pick up their properties for less as the price in the area will tank as the wilsons' properties come to market. ironically they may actually have helped a number of FTB who would now be in NE if they hadn't been outbid by fungus and his troll.

this is a well thought out post and I hope your assumptions are correct (ftr: I don't despise wealth, only the methods some choose to achieve it - and I sincerely hope that these 2 are well and truly shafted).
but fungus hasn't been entirely honest in the past, so a quick search at company house should do the trick.
meanwhile, a long time ftb'er in this part of the world -waiting in the wings - may well have cause for celebration that these 2 are hoist by their own petard.
having just finished a long (and difficult) shift I'm proud of myself that I've managed to stay polite about the wilson's.
the doc says that i shouldn't eat just before bed, but sod him: I'm starving!
a pleasant night.

Yoshua

What the latest on these cowboys?

I heard they were going under.