BTL - That's the future

[DimPrawn]

The couple announced in September they planned to sell off their property empire of up to 900 homes as 'the time is right for us to go'.

They value the 177 properties with Mortgage Express at £34.4million, but independent valuations say this is on the high side.


So they own 900 homes, 177 are mortgaged, 723 presumably owned outright? The Mail is unclear on this.

.

No, I think the 177 are mortgaged with the provider they are in arrears with. I believe they have many others mortgaged with other lenders.

They started with nothing and I believe they have mortgaged almost every property to the hilt.

[Clippy]

I wonder how the 'mechanics' of their portfolio work.

I mean, I would have thought with such a large number of properties, they would have some form of company structure which means they would have to take out commercial loans and not high st mortgages.

However, the article alludes to the fact that a lot of the properties in arrears are owned by Mrs Wilson and her daughter which suggests there is no company structure in place.

[TimberWolf]

I'd have thought it was a non-story ...

WHS

Property tycoon Fergus Wilson denies 'mortgage arrears' claim

“The long and the short of it is someone has got the wrong end of the stick,” he said after Saturday’s article.

The former maths teacher continued: “They should have researched that article an awful lot better than they did.
Earlier this year, the self-made millionaires were ranked 793rd in The Sunday Times Rich List and are now planning to sell their entire portfolio, standing to make about £70 million in profit.

[DimPrawn]

WHS

Property tycoon Fergus Wilson denies 'mortgage arrears' claim

If somehow they can sell 700 identikit houses all in the same place at peak prices.

Anyone here want to snap them up?