Home Residential Property Is buy-to-let over? These landlords are selling their £250m property portfolio

Is buy-to-let over? These landlords are selling their £250m property portfolio

by Deleted Subscriber Content
10th Dec 15 9:10 am

Couple who bought a house every day to sell up

A couple who became some of the most well-known and controversial buy-to-let landlords are selling up.

Former teachers Fergus and Judith Wilson had amassed a property empire of more than 1,000 homes, after buying a home at the end of their road in the 90s.

From there, easy credit meant they were able to build a property empire, which they have sold to foreign buyers for £250m.

Last year the Wilsons became infamous for issuing eviction notices to 200 residents on housing benefit.

Many speculators have suggested the buy-to-let property market is in a bubble that’s about to pop, but a statement by Fergus Wilson said there are other reasons for the sale.

It said: “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 [buy-to-let] 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.”

 

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