Potential bargains to be had in Ashford.

#1
Possibility of a large number of two and three bed houses appearing on the market soon.

Clicky thing

900+ property's to be off-loaded. I wouldn't like to take bet's on whether his lender is prepared to hold out for seven years while he gently shed's properties, or someone will call the ticket in sooner.
 
#2
apfsdsdu said:
Possibility of a large number of two and three bed houses appearing on the market soon.

Clicky thing

900+ property's to be off-loaded. I wouldn't like to take bet's on whether his lender is prepared to hold out for seven years while he gently shed's properties, or someone will call the ticket in sooner.
Ouch!

He's not about to dump hundreds of properties and single-handedly create a slump in the Ashford area. The plan is to sell over several years, from Christmas. Like many other buy-to-let investors, he built his portfolio for capital gain rather than rental yield, but sees little chance of such appreciation in the next few years. So rather than wait until long into his retirement, he's taken the decision to start selling.
So, why has he given an interview? Everyone will move the market against him!

Will the Wilsons walk away with millions or be left with crumbs from a collapsing market? Fergus is cautious about precise figures, but reckons his properties are worth "around £250m" and that the typical loan-to-value is around 65%. That suggests they have an equity cushion of some £90m - and a mortgage of about £160m.
That's a very slim cushion in today's markets.

As I wrote "Ouch!"

Litotes
 
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