Fergus Wilson and his wife Judith are a British couple who, until December 2015, were among the UK’s largest buy-to-let investors. They began buying houses when prices were low in the early 1990s. They relied heavily on leverage to build their portfolio, buying only new-build houses and remortgaging them as soon as prices went up, using the profits to finance further purchases.
Basically this man is the biggest buy-to-let slum lord in the UK. The reason Kent is a massive shit hole full of chavs and migrants. At first he created properties for benefits claimants most likely Londoners escaping the muslimification of east London. White Chapel has not yet been renamed Brown Mosque but it should be. Most of these benefits claimants will be single mothers raising their chav children who will then go on to rent from the same slum lord. Now if not for this man and him converting hundreds of family homes into rooms that benefits claimants and migrants can afford. Kent would be a nice place.
After the flood gates of migration into the port of Dover, Kent. He found some better prey then single mothers and chavs. In January 2014 Fergus Wilson sent eviction notices to every tenant that received housing benefit and alerted letting agents that he would no longer accept tenants who require housing benefit. That new prey was Eastern Europeans the rent was raised from what housing benefit would pay £900 a month to £1,200. As with the benefit claimants the Eastern Europeans who would not have been able to afford to live there if not for this man are all over the place. Ashford, where the lion’s share of his portfolio is located is full of chavs.
I’m willing to bet every single one of these properties is in dire state. I really wonder why the Government or councils did not step in? Over crowding? Poor maintenance? Apparently the problem there was lack of council funds to send investigators around. Probably due to lost council tax on what would have been normal properties for normal people. If I was the council I would have lowered the housing benefit rate just enough to prevent this man from ruining an entire county.
After some tax changes they did the math and figured out they would not be able to for-fill their mortgage commitments. So they sold the entire portfolio for £250 million which is market value to foreign investors. I’m sure they took all the money strait to the bank to pay off all their loans.
Now the biggest question is did they actually make any money from running Kent into or the ground or was it just a hobby?