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Wilsons - The buy-to-let gurus' empire crumbles

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Comments

  • 1984ReturnsForReal_2
    1984ReturnsForReal_2 Posts: 15,431 Forumite
    HAMISH_MCTAVISH wrote: »
    :rotfl: :rotfl: :rotfl: :rotfl:

    The Wilsons...... "too big to fail".

    This is going to drive the bears absolutely mental!

    Banks cutting their interest rates in half to prevent them failing!!!!!!!!!!!

    Absolutely Priceless.


    I don't know why you are laughing Hamish.

    It is good business for banks to keep these people going if house prices are going to have significant rises this year.

    However, I guess the banks don't follow your thinking.
    Not Again
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    HAMISH_MCTAVISH wrote: »
    Graham, top tip.....:money:

    Debate is always more satisfying when you bother to read the article.;)

    there are just some men that you cannot reach out to :wall::wall::wall:
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    1984ReturnsForReal wrote: »
    I don't know why you are laughing Hamish.

    It is good business for banks to keep these people going if house prices are going to have significant rises this year.

    However, I guess the banks don't follow your thinking.

    The banks have bailed them out.

    Thats what the article is about, or didn't you read it?
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • GDB2222
    GDB2222 Posts: 26,470 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    It was always obvious that the one thing the lenders weren't going to do was dump 700 properties on the market as repos all at the same time. They may have been stupid lending, but they have wised up.

    We have no idea just what the deal is that's been struck, but the Wilsons are putting the best spin on it that they can.
    No reliance should be placed on the above! Absolutely none, do you hear?
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    HAMISH_MCTAVISH wrote: »
    The banks have bailed them out.

    Thats what the article is about, or didn't you read it?

    You really are a sweetie.

    They NEEDED bailing out Hamish.

    They now have a business model in which they are hostage to rises in outgoings, and they won't even know when, or how big the rises will be. (Interest rates, if I need to explain).

    Fantastic business model eh. First you can't cope, so are bailed out, now they don't know what their outgoings might be from month to month, and this is on top of the liklihood of further losses on their assets. Their assets being their whole business model.

    And the best thing? They can't even pass the costs on to the customer.
  • 1984ReturnsForReal_2
    1984ReturnsForReal_2 Posts: 15,431 Forumite
    HAMISH_MCTAVISH wrote: »
    The banks have bailed them out.

    Thats what the article is about, or didn't you read it?


    What they have done is not bail them out.

    Don't you understand the story?

    It's called collecting all the money due or as much as possible.

    Its like someone you owe money to escorting you to the cash machine, WITH A GUN.......
    Not Again
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Graham_Devon wrote: »
    Deleted that as I was wrong!
    Saving that for posterity.
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    if you bought those properties as part of their Ltd company - you would avoid paying stamp duty on the properties...
    just a thought for you property wannabes out there... :)
  • 1984ReturnsForReal_2
    1984ReturnsForReal_2 Posts: 15,431 Forumite
    chucky wrote: »
    if you bought those properties as part of their Ltd company - you would avoid paying stamp duty on the properties...
    just a thought for you property wannabes out there... :)


    You would also lose the lot if you were late detecting trouble..
    Not Again
  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    1984ReturnsForReal wrote: »
    You would also lose the lot if you were late detecting trouble..
    t'is ok - you can get a HomeCare 400 agreement from British Gas.
    it covers you for any problems with drains :)
This discussion has been closed.
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