Grant Bovey to be declared bankrupt

Finally the Grant Bovey debacle is coming to an end.

Bovey is about to announce his bankruptcy after his long drawn out financial meltdown.

Boveys Imagine homes company, which became one of the largest buy-to-let companies in the country with a value of more than £100m, is a classic example of a company based on bubble economics.

Backed by HBOS it was a business built on a fake and ultimately fragile economic model.

The company launched at a point when property values were already inflated was completely reliant on property prices continuing to increase, frightening.

Even the 'bell boy' could of forecast the fragility of it as a business model, but obviously not the spreadsheet munchers at HBOS, who presumably were absolute muppets devoid of any real life experience and under the age of thirty and no knowledge of economic history.

It all sounds like Bovey, (who strikes me as been a bit of a fantasist / oportunist / you choose) got on a financial roller coaster that was impossible to jump off.

Let's hope this is a lesson for landlords, never let blind greed get the better of sound judgement.

Read the full incredible tale in ThisisMoney

Discounted landlord insurance