Good Old Fergus!

wotsthat

Not heard from Fergus for a while. He's loving Brexit apparently.

Fergus Wilson said the knock-on effect of Britain's vote to leave the European Union on June 23 has made it easier for him to sell his portfolio. This is because the pound has fallen to 30-year lows against the US dollar and therefore made it cheaper for overseas investors.

Wilson has so far sold 400 of the 900 houses in Kent, England to 50 tenants and the remainder to overseas investors. He said that he is hoping to sell the entire portfolio for £250 million and will make £200 million in profit, after he pays back around £45 million to lenders.

Don't know what the truth is (journalists seem to take whatever he says at face value) but every property sale recently in Maidstone is dramatically up on its last sold price.

http://www.rightmove.co.uk/house-prices/detail.html?country=england&locationIdentifier=REGION%5E897&searchLocation=Maidstone


http://uk.businessinsider.com/britains-biggest-landlord-fergus-wilson-is-selling-his-uk-property-portfolio-2016-9

mayonnaise

UK assets being bought by foreigners. Clappers will be delighted.

wotsthat

mayonnaise wrote: »

UK assets being bought by foreigners. Clappers will be delighted.

Crashy will be pleased too. I know he worries a lot about millionaires selling property.

He might be along soon to make fun of Fergus only walking away with £100m of so after paying his CGT bill.

westernpromise

As Fergus has bought so many houses in Ashford and Maidstone, and as landlords like him thereby contribute - according to crashtrolls - to the housing shortage, presumably Ashford and Maidstone:

- have suffered much higher house price inflation than other Kent towns,
- have much higher rates of homelessness, and
- are now experiencing a price crash as Fergus sells?

What are mortgage rates like in Ashford and Maidstone? I expect they're different to the rest of the UK.

Running_Horse

Fergus Wilson predicts the end of buy to let.

https://www.theguardian.com/money/2016/dec/09/buy-to-let-landlord-days-numbered-fergus-wilson-tax-changes-mortgage-rules

Graham_Devon

wotsthat wrote: »

Not heard from Fergus for a while. He's loving Brexit apparently.





Don't know what the truth is (journalists seem to take whatever he says at face value) but every property sale recently in Maidstone is dramatically up on its last sold price.

http://www.rightmove.co.uk/house-prices/detail.html?country=england&locationIdentifier=REGION%5E897&searchLocation=Maidstone


http://uk.businessinsider.com/britains-biggest-landlord-fergus-wilson-is-selling-his-uk-property-portfolio-2016-9

It is rather strange though that others in the BTL market are suggesting the drop in BTL purchases is partly due to overseas caution in the UK BTL market.

Once again, Fergus seems to be unique in this one.

Thrugelmir

Graham_Devon wrote: »

It is rather strange though that others in the BTL market are suggesting the drop in BTL purchases is partly due to overseas caution in the UK BTL market.

Once again, Fergus seems to be unique in this one.

Was ahead of the game at the outset. Why not now.

wotsthat

Graham_Devon wrote: »

It is rather strange though that others in the BTL market are suggesting the drop in BTL purchases is partly due to overseas caution in the UK BTL market.

Once again, Fergus seems to be unique in this one.

You ought to read the proclamations of Conrad. Brexit is going to make the UK an even safer safe haven, house prices are going to increase and, right now, foreigners can buy in at 15% off. Who wouldn't want a piece of that action?

Running_Horse

I wonder how many court cases they have lost.

http://www.kentonline.co.uk/ashford/news/property-moguls-lose-court-appeal-117741/

Looks like daughter Tanya is being taught how to treat people who have made her parents fabulously wealthy.

Zandoni

I've tried very hard but I just can't understand this couple. Why won't they ever fix their tenants heating, they would rather lose the tenant and a few months rent, it just doesn't make sense.