Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
Fergus Wilson, probably one of Britain’s most controversial Landlords, claims to have sold his portfolio of Buy to Let properties in Kent to a foreign consortium for £250 million.
In a statement given to the Guardian Mr Wilson said, “We reached an agreement today with a consortium of buyers to sell our entire portfolio for a figure exceeding £250m. The consortium is foreign and not of any one specific nationality.
Prices for houses have been rising due to the shortage of available properties on the market, but steps have been taken to ensure the property prices in Ashford, Maidstone and Folkestone are not adversely affected and that the sale would make no difference to existing tenants.”
In his statement Mr Wilson also says whilst refering to himself in the third and first person true to his unconventional nature, “He is sorry to be giving up, but common sense must prevail. He is 67 years old and getting no younger.
Buy to let became an obsession for Fergus Wilson. He is a self-confessed BTL junkie. Each day I must have my daily fix. I look up prices and say to myself what a lucky man I am.
Owning BTL became a hobby for Fergus Wilson that simply got out of control. He says BTL is the national hobby and is followed by millions.
Whether you are a tenant or an owner occupier or indeed a BTL landlord you have an interest in the letting industry for letting industry is what it is.”
Mr Wilson caused controversy appearing in most of the national press during January 2014 when he confirmed that all his housing benefits tenants would be evicted. He sent eviction notices to over 200 of his tenants confirming he preferred eastern European migrants who defaulted less frequently than single mothers on welfare.
This decision to sell comes soon after the mortgage interest relief restrictions were announced in this Summer’s Budget.
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