Fergus and Judith Wilson ( the King and Queen of BTL ) have finally sold up.
No doubt there are other landlords out there considering following their lead.
It might be the right time to go, with the current high house prices offering up an exit door before the Chancellor’s tax changes bite us right on the the bum.
The Wilsons portfolio allegedly has gone for over £250m to a foreign consortium. Their nine hundred homes were in Kent, mostly around Ashford. The deal is expected to be completed during the first half of 2016
Fergus cites, increasing regulation and the proposed tax changes as his reason to finally do the deal, saying -
“We reached an agreement today with a consortium of buyers to sell our entire portfolio for a figure exceeding £250m.”
There's more in the Telegraph on the Wilsons BTL portfolio sale
There's more in the Telegraph on the Wilsons BTL portfolio sale
Behold! The future of the UK's PRS - with the entire sector being owned by foreign corporate investors, many of them probably wealthy UK citizens operating through offshore tax-havens.
ReplyDeleteThis is what happens when people vote for the Tories. They have no interest in the lives of ordinary citizens, if you're not a multi-millionaire, they're not on your side, that's for sure.
Even if you are, like Ferie & Jude, it's still dubious.