Debate House Prices


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Poor old Wilsons

Zandoni
Zandoni Posts: 3,465 Forumite
Part of the Furniture 1,000 Posts Name Dropper Photogenic
What a shame the Wilsons appear to have lost a bit of dosh.

RESULTS FOR 2009
Ranking: 793=
Worth: £70m
Down: £110m
Source of wealth: Property
Fergus Wilson has the unenviable reputation of owning Maidstone Mixture, possibly the worst horse in the history of the Derby. Wilson, 60, and his wife, Judith, 58, who own about 900 properties in Kent, are down 61% on last year.
RESULTS FOR 2008
Ranking: 453=
Worth: £180m
Source of wealth: Property



http://business.timesonline.co.uk/tol/business/specials/rich_list/rich_list_2009/article6142406.ece
«13456789

Comments

  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    I think there is some anomalies with their maths. Someone worked out on HPC, taking into account the way they have bought houses and the selling price on the LR of the houses in that area that have sold, they have a NE of around £20 million at this time, if true, they are bolloxed.

    Shame.
  • Alan_M_2
    Alan_M_2 Posts: 2,752 Forumite
    ad9898 wrote: »
    I think there is some anomalies with their maths. Someone worked out on HPC, taking into account the way they have bought houses and the selling price on the LR of the houses in that area that have sold, they have a NE of around £20 million at this time, if true, they are bolloxed.

    Shame.

    So many assumptions.

    The only people who will really know are the Wilsons and their lender.

    There is a strange obsession with this couple on this board, it really is strange.

    Same thing with Granite Bovey and Anthea Turner, almost hate in a lot of cases.

    Live and let live...worry about your own lives and finances not someone who you've never even met.....
  • bubblesmoney
    bubblesmoney Posts: 2,156 Forumite
    Part of the Furniture Combo Breaker
    Wilson, 60, and his wife, Judith, 58, who own about 900 properties in Kent, are down 61% on last year.
    how did they manage to fall 61% when property prices didnt fall that much. was it because of negative equity in some properties that the banks called for more funds from them to cover the loans? :confused: or did they have to dispose some properties at a loss.
    bubblesmoney :hello:
  • bubblesmoney
    bubblesmoney Posts: 2,156 Forumite
    Part of the Furniture Combo Breaker
    edited 29 April 2009 at 7:37AM
    Alan_M wrote: »
    So many assumptions.

    The only people who will really know are the Wilsons and their lender.

    There is a strange obsession with this couple on this board, it really is strange.

    Same thing with Granite Bovey and Anthea Turner, almost hate in a lot of cases.

    Live and let live...worry about your own lives and finances not someone who you've never even met.....
    people might discuss their case because their rise has been interesting to say the least. one neednty discuss issues only because of hate. people might be interested in buying property in kent or the areas they have investments in. whether the wilsons buy or sell properties they will make a difference for others buying in that area due to the size of their portfolio.

    i dont see anything wrong in discussing a property portfolio of 900 properties and its prospects. after all this is a house price, economy & recession discussion forum.
    bubblesmoney :hello:
  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    Alan_M wrote: »
    So many assumptions.

    The only people who will really know are the Wilsons and their lender.

    There is a strange obsession with this couple on this board, it really is strange.

    Same thing with Granite Bovey and Anthea Turner, almost hate in a lot of cases.

    Live and let live...worry about your own lives and finances not someone who you've never even met.....

    No obsession, but a bit of schadenfreude is good for the soul.:D
  • Zandoni wrote: »

    RESULTS FOR 2009
    Ranking: 793=
    Worth: £70m
    Down: £110m
    Source of wealth: Propert
    y

    I was surprised to find out that the Rich List didn't take into account the persons debts.:confused:
    RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
    Read the sticky on the House Buying, Renting & Selling board.


  • macaque_2
    macaque_2 Posts: 2,439 Forumite
    Alan_M wrote: »
    So many assumptions.
    Live and let live...worry about your own lives and finances not someone who you've never even met.....

    Live and let live ..... worry about your own posts and stop telling people you've never met what they should or shouldn't write.


    Fergus was reckoned to have assets of £250m last year and mortagage debt of £160m. The latest report suggests he has lost £100m of the £250. Can someone pass me a calculator, I need to work something out.

    Will the Wilsons walk away with millions or be left with crumbs from a collapsing market? Fergus is cautious about precise figures, but reckons his properties are worth "around £250m" and that the typical loan-to-value is around 65%. That suggests they have an equity cushion of some £90m - and a mortgage of about £160m. While some householders joke they have a mortgage the size of a small country, in the Wilsons' case it's actually true .

    http://www.guardian.co.uk/money/2008/oct/04/buyingtolet.property
  • Alan_M wrote: »
    There is a strange obsession with this couple on this board, it really is strange.

    Here are some reasons

    " Fergus Wilson was the subject of a TV expose on bad landlords"
    http://www.epsomderbybetting.net/EpsomDerbyBettingNews/EpsomDerbyBetting_FergusWilson.htm

    "In Ashford town centre, every estate agent knows the Wilsons. "They own great big chunks of the new-build estates around here, particularly Park Farm," said one. "They have single-handedly pushed up prices in the new developments, buying them off-plan and renting the lot out. It's tough for first-time buyers. As soon as a suitable property for a first-time buyer comes on to the market you get three or four buy-to-let investors putting in offers. You'd like to be able to sell it to a young couple but you just can't."
    Like other Ashford agents, he did not want to be named for fear of upsetting the area's biggest landlord."
    http://www.guardian.co.uk/money/2006/dec/16/business.houseprices

    For me, it is that although they started buying in a bust, and are old enough to remember our booms and busts, they seemed to believe that although we had a massive boom, that there would not be a massive bust, as per usual:confused: Buying investment property with a mortgage, is a very high risk investment.

    It is reported that Fergus predicted

    "But Fergus Wilson predicts that prices will double every seven years and says the typical property he owns - a £200,000 two- to three-bed starter home - will cost £400,000 by 2013, £800,000 by 2020 and £1.6m by 2027."
    http://www.guardian.co.uk/money/2006/dec/16/business.houseprices

    Why did he believe that?:confused:
    RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
    Read the sticky on the House Buying, Renting & Selling board.


  • Edale
    Edale Posts: 246 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Something doesn't add up. A £110 million decrease in their wealth divided by 900 properties works out at £122k per property! I didn't believe they were worth £180 million last year when they had amassed their property through massive leverage as this works out at £200k per property.

    I can understand why people are curious about the Wilsons, they did rub peoples noses in it, boasted about their huge wealth and portrayed their method as only ever having an up side. To many this is fundamentaly flawed and people like the Wilsons, Krusty and Phil, Anthea and Grant have given a very biased not 'risk averse' point of view.
  • torontoboy45
    torontoboy45 Posts: 1,064 Forumite
    Alan_M wrote: »
    So many assumptions.

    The only people who will really know are the Wilsons and their lender.

    There is a strange obsession with this couple on this board, it really is strange.

    Same thing with Granite Bovey and Anthea Turner, almost hate in a lot of cases.

    Live and let live...worry about your own lives and finances not someone who you've never even met.....
    'live and let live'. sorry, but did you do say: 'live and let live' ???

    if the wilson's had done that........oh well.
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