Controversial Landlord Fergus Wilson Sells

by Property 118

11:15 AM, 9th December 2015
About 4 years ago

Controversial Landlord Fergus Wilson Sells

Make Text Bigger
Controversial Landlord Fergus Wilson Sells

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.fergus wilson

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.



Comments

ray selley

18:19 PM, 10th December 2015
About 4 years ago

Great JUDITH we've got shot of that lot.No more pain in the butt tenants.
What a relief FERGUS.Now what shall we do with our pile?
Well JUDITH when you get back from the pound shop with our Christmas presents lets put our heads together.
OK FERGUS but before i go how about putting our money into a deposit account.[ After making a donation to PROPERTY 118 0f course]
Bank deposit not a good idea JUDITH.We will earn next to no interest.
But at least the first £150,000 will be protected FERGUS-All we will need to do is to open 1500 new accounts and spread the money around.
Non starter JUDITH there are less than 100 regulated deposit takers out there.
FERGUS it's essential we invest wisely and in the safest way possible.
I agree JUDITH and i have just had a brainwave.I was flicking through a magazine called NETWORK PROPERTY or something like that.Its full of pictures of designer dressed people sitting in Ferrari's sipping Champagne from gold rimmed flutes who are clearly a lot wealthier and cleverer than we are and guess what for a fat fee they are prepared to sell us a course on how we can make in property as well.
Lets go for it FERGUS.Lets find out where we went wrong and get it right this time-at least we will be able to sleep at night.You can't beat investing in Bricks and Mortar

Costas Tzanos

18:51 PM, 10th December 2015
About 4 years ago

Reply to the comment left by "steve p" at "09/12/2015 - 19:24":

Was he incorporated? If so then this move of his is nothing to do with GO. If he wasn't. ...then clearly clause 24 is his motivation for selling....he is no fool. He'll probably be back and buying again within a company. Regards moving overseas.....at age 64....5 years overseas can be quite a long time. I am sure I read somewhere that he was incorporated

ray selley

18:58 PM, 10th December 2015
About 4 years ago

Reply to the comment left by "Costas Tzanos" at "10/12/2015 - 18:51":

Unlikely they were incorporated as they had loans with MX.If you want to waste a tenner then it is easy to do a directors search and bring up ltd company accounts

Mark Alexander

19:14 PM, 10th December 2015
About 4 years ago

He announced that he was selling up a few years ago, well before the tax changes were announced.

MX dos do some LTD Company lending by the way.
.

Silver Surfer

21:11 PM, 10th December 2015
About 4 years ago

Reply to the comment left by "ray selley" at "10/12/2015 - 18:58":

There is a Fergus Glen Wilson of Maidstone ( full address withheld) who has had a total of 43 companies, 37 of which are closed, 4 which he resigned from and 2 currently active. The longest company he has been associated with is JWIPB Ltd , I wonder if the first two initials refer to his wife Judith Wilson ?

ray selley

21:37 PM, 10th December 2015
About 4 years ago

Interesting the only other active company i can see is SEARCH FOR A EUROPEAN HEAVYWEIGHT CHAMPION LIMITED so i can see what Fergus might be selling up for- A crack at the title.

Silver Surfer

21:46 PM, 10th December 2015
About 4 years ago

Go to CompanyCheck and all will be revealed

S.E. Landlord

13:02 PM, 11th December 2015
About 4 years ago

An agreement to sell to individuals and investors and sale due to complete in the early part of 2016 .

I can understand the wish to sell all together as it simplifies matters -

No impact on local property prices
Funds available for CGT liability
No concern with lenders' right to consolidate

Would anybody like to speculate on the tax liability / cash flow if the properties were still owned by the Wilsons in their own name when clause 24 is fully implemented? I imagine currently that this is a highly lucrative portfolio which may change with the new tax liability - probably a good example of the damage clause 24 will do..

Denise G

15:07 PM, 11th December 2015
About 4 years ago

Reply to the comment left by "Mark Alexander" at "09/12/2015 - 11:43":

maybe he didn't want to move because he really likes where he lives? (about 10 doors down from us)

Under let Landlord

16:01 PM, 10th June 2016
About 3 years ago

Reply to the comment left by "Graham Chilvers" at "09/12/2015 - 16:13":

Are the big boots the ones belonging to the b/f of the single mum and five kids tenant on hb who had a net income of £1000 per week between them thanks to new labour denying social security fraud

1 2

Leave Comments

Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.

Forgotten your password?

OR

BECOME A MEMBER

Police blamed for allowing Anarchy to rule in the PRS

The Landlords Union

Become a Member, it's FREE

Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agents

Learn More