The Wilsons are going under.

nearlynew

Let this be a lesson to all you debt-junkie chancers out there.................


debt is not wealth.

carolt

I'd like to think their chasing of one man for 3 grand for a toilet seat has cost them many, many times that in terms of voids - I mean who on earth would choose to rent from a landlord who was known to chase ex-tenants for thousands of pounds purely out of spite, if there was ANY other landlord to rent from at all?

And there's another lovely moral from this sorry tale. "All publicity is good publicity" is not necessarily the case.

HammerSmashedFace

nearlynew wrote: »

Let this be a lesson to all you debt-junkie chancers out there.................


debt is not wealth.

The part written in red is absolutley correct, Warren Buffet thinks so, and whose gonna argue with him ?

fc123

dopester wrote: »

A final warning letter. :rotfl:

What a strange system. Paying hundreds of mortgages by cheque.

From what I read the mortgages were all in his wife's name. This article says his daughter's as well, where a previous a news-piece said she wasn't going to go into the "business". Fergus sure acts like he runs a lot of the business.

Enjoy your meeting next week at the bank Fergus. It may be different from the boom times when they'd look upon you with awe, as though you were a super-maths head genius who could surely do no wrong, as you continued to borrow their money to buy first time buyer type homes.

Reap the whirlwind Fergus. Reap it.

Hey...could be time to make and market your game.?

Here is a gif image I just made using same method as in his tutorial. I already had the images in a folder because the Wilsons are part of a FBI style "shooting-gallery" cardboard enemy map/game I created.... where the Wilsons randomly quickly pop-up/disappear at the windows of a cul-de-sac full of FTB style houses.. mixed in with some cardboard cut-out images of young smiling would-be FTB-type couples whom you've got be careful not to accidentally shoot.

Edit: The Wilsons image Gif removed by understandable request.

dlk

I'll admit I know absolutely nothing about these people but why are people taking so much joy at there downfall? What exactly have they done other than try to make some money (admittedly rather a lot taking large amounts of risks to do it). If landlords didn't exist who exactly do you think tenants would rents from?!

dopester

dlk wrote: »

I'll admit I know absolutely nothing about these people but why are people taking so much joy at there downfall? What exactly have they done other than try to make some money (admittedly rather a lot taking large amounts of risks to do it). If landlords didn't exist who exactly do you think tenants would rents from?!

Many wouldn't be tenants then would they. :rolleyes:

There would be more opportunity for buying a home.

Throughout the years of boom, BTLers like the Wilsons tried to hump any available nice-ish FTB style house, and outbid what FTBs can afford.

Instead the Wilsons and others small BTL freaks could MEW on their other homes, to pay more for new houses to market, constantly disadvantaging FTBs.

The Wilsons gave it to hopeful FTBs with both barrels.

Outgunning FTBs in both prices they can pay (via MEW) and snapping in at any new supply. Each time someone pays more for a property it helps raise the value of surrounding properties.

Don't believe me..? Fergus has admitted it himself: (Daily Mail 24 January 2007)

Sometimes they buy property in job-lots, off-plan or directly from developers, drawing accusations that they are squeezing first-time buyers out of the market.

The couple deny this. "Put it this way," Mr Wilson says. "If you were selling a house, who would you rather deal with? A young couple who might pull out at the last minute, or Judith Wilson, who you know will not mess you around?"

carolt

Well said, dopester.

If these houses were not owned by BTL landlords, they wouldn't all just disappear, or sit empty, would they?

Maybe a few would (landlords like Gorgeous George, say, who I believe bought a run-down place no-one wanted, and did it up); but for the vast, vast majority, they would still have people living in them - just the inhabitants would own them, not rent them.

kabayiri

Flip side.

Isn't this a good thing, the fact that this couple will have to put a number of properties on the market.

I read daily on here how many of you in the S.E are really struggling to find property in that 100K+ ftb price territory. Maybe this is an opportunity?

carolt

Flip side?

There's a flip side?

I think we were all in agreement that it was a good thing; for FTB's, and happy endings generally.

FungusFighter

Hold the glee a mo guys, dunno if it's been mentioned but what happens to the tennants if the wilson's go teetsup?

Ashfords homeless numbers would rocket:eek: