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psst ... someone just bought a buy to let empire
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So, some of the rich Chinese think British property is a good way to sink many of their millions ... If that trend keeps up we've got a wall of money coming our way.
(Edit) oh Arabs not Chinese, apologies.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0 -
westernpromise wrote: »It's interesting that what some of us predicted as a consequence of Osborne's tax attacks - the corporatisation and offshoring of ownership to new landlords - is already happening.
A deal like this has been in the offing for a very long time. Nothing to do directly with GO's policies.0 -
Thrugelmir wrote: »A deal like this has been in the offing for a very long time. Nothing to do directly with GO's policies.
It has been in the offering For a long time but that's not to say that the new policy didn't pre-empt the deal at a more timely fashion.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0 -
You can't believe any figures in any Wilson story, be is not known for his honesty.0
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You can't believe any figures in any Wilson story, be is not known for his honesty.
You kidding ? You don't tell the tax man you're earning more than you are. Chances are it's the other way around.Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0 -
You kidding ? You don't tell the tax man you're earning more than you are. Chances are it's the other way around.
This man just likes to try and impress people. Every boast he has made just doesn't add up.
He doesn't have as many houses as he says he has although I'm sure he has a lot, some of these have been repossessed and some have already been sold.
He managed them so badly they were often empty for months.0 -
It has been in the offering For a long time but that's not to say that the new policy didn't pre-empt the deal at a more timely fashion.
The Wilsons first announced their decision to sell their portfolio as long ago as 2008. In 2009 it was revealed that they were £350k in mortgage arrears with the Bradford and Bingley. Who of course were nationalised and still form part of UKAR. Therefore remortgaging would have been a neccessity at some point in time. An outright sale has given them an easy exit. With a high concentration of property in a locality the only alternative was on a slow piecemeal basis.
Not a complex situation to understand. People build a business. then one day decide to retire.0 -
chucknorris wrote: »He was in an extremely dodgy situation at one point (around early 2009), there is absolutely no doubt in my mind about that. If the market had continued to fall, and interest rates were not reduced to next to nothing, he would have been in serious trouble. I think his debt was much higher back then, he would have paid quite a bit off since 2009, due to the low interest rates.
But the point is that it was totally unnecessary for the Wilsons to have stuck their neck out so far, they ended up risking everything for additional profit that they probably will not live long enough to spend (certainly in a meaningful way).
Some might say joining the 'too big to fail' club is actually just another example of successful rent seeking. There is more profit to be made from gaming the system than by playing the game according to the 'market' rules.I think....0 -
PasturesNew wrote: »I hate it when smug and loathesome people appear to come out of sticky situations smelling of roses and reeking of "see how clever I am".
If I was smug and loathsome, I'd have more than one escape plan, based on all sorts of what if scenarios.0 -
Thrugelmir wrote: »The Wilsons first announced their decision to sell their portfolio as long ago as 2008. In 2009 it was revealed that they were £350k in mortgage arrears with the Bradford and Bingley. Who of course were nationalised and still form part of UKAR. Therefore remortgaging would have been a neccessity at some point in time. An outright sale has given them an easy exit. With a high concentration of property in a locality the only alternative was on a slow piecemeal basis.
Not a complex situation to understand. People build a business. then one day decide to retire.
How in any way does that undermine what I just said ?Proudly voted remain. A global union of countries is the only way to commit global capital to the rule of law.0
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