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

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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Readers' comments (2)

  • Fergus and Judith Wilson understand the property market after years of buying and selling and are wisely getting out before the housing market collapses. Interest rates are going to rise sooner or later and we will see a repeat of the crash in the late eighties when people could no longer service their mortgages.

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  • Anonymous

    People can't pay their rent either unless they illegally sublet.

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