Fergus and Judith Wilson
 |
This article is an orphan, as few or no other articles link to it. Please introduce links to this page from related articles; suggestions may be available. (October 2010) |
 |
This article's tone or style may not reflect the formal tone used on Wikipedia. Specific concerns may be found on the talk page. See Wikipedia's guide to writing better articles for suggestions. (October 2010) |
Fergus Wilson and his wife Judith are among the UK's largest buy-to-let investors, owning, as of October 2008, 910 two and three-bedroom properties, all located in the area of Ashford and Maidstone in Kent.[1] They were listed at #453 on The Sunday Times "rich list",[2] with a fortune of £180 million. However, that fortune related to the value of their properties at the peak and did not take account of any mortgage debt.
Both former maths teachers, the couple, already home-owners, began buying houses when prices were low in the early 1990s.[3] They had previously claimed that house prices would never stop rising, and announced the 'Judith Wilson Investment Property Bond', which, based on claims that the UK property market doubled in value every seven years, they claimed would do likewise. It is not known whether this was ever launched. Similarly, their plans for a chain of discount dentists staffed by low-cost Eastern European dentists do not appear to have come to fruition.[4]
The couple 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.[5]
The couple are also racehorse owners, an activity that earned them some criticism as they persistently entered 'no-hoper', low-quality racehorses in top races - such as their entry of the 'worst racehorse in history' into the Epsom Derby,[6][7] as well as similar entries in the Gold Cup[disambiguation needed 
], Grand National and Champion Hurdle.
In late 2008, with the nationalisation of Bradford and Bingley, which had provided them with most of their finance, the couple announced, contrary to previous statements, that they would begin selling some of their portfolio, with 18 houses going on sale at the end of their fixed-rate term in March 2009, and 50 further houses to follow. A local estate agent indicated that resale prospects were "poor" with prices having fallen 20%, and few buyers.[1]
On the 24th August 2009, Judith Wilson had a court case thrown out by the judge. Wilson had demanded £3,000 for a new bathroom suite from a tenant who had damaged a cistern lid. The tenant had offered to replace the lid. [8]
Judge Christopher Cagney, in a written judgment, ruled against Mrs Wilson, who had been supported in court by her husband,
'The only photographic evidence that I have seen, produced by the defendants, gives me the clear indication that the replacement lid is very similar in quality and colour to the remainder of the cistern and the bathroom suite,' he said.
Branding the claim "exaggerated", Judge Cagney said he "had doubts" that work to replace the bathroom suite would ever be carried out.
In September 2009 it was reported in the Times that they planned to sell their entire portfolio.[9] It was subsequently revealed that the couple were in arrears on their mortgage payments to the amount of £350,000.[10]
[edit] References
- ^ a b "Buy-to-let guru Judith Wilson sells after doing the maths". This is Money. 2008-10-14. http://www.thisismoney.co.uk/mortgages/buy-to-let/article.html?in_article_id=455442&in_page_id=56. Retrieved 2010-10-05.
- ^ "Judith and Fergus Wilson". The Times (London). April 27, 2008. http://business.timesonline.co.uk/tol/business/specials/rich_list/article3769724.ece. Retrieved April 1, 2010.
- ^ Jones, David (January 24, 2007). "How two maths teachers clocked up 707 houses and £240m fortune". Daily Mail (London). http://www.dailymail.co.uk/news/article-431224/How-maths-teachers-clocked-707-houses-240m-fortune.html.
- ^ "Drive-in dentists: Chain will hire Eastern European staff to offer cut-price treatment". Daily Mail (London). December 11, 2007. http://www.dailymail.co.uk/health/article-501139/Drive-dentists-Chain-hire-Eastern-European-staff-offer-cut-price-treatment.html.
- ^ "Tales of a Landlady A route to royal riches". The Times (London). March 14, 2004. http://property.timesonline.co.uk/tol/life_and_style/property/article1043004.ece. Retrieved April 1, 2010.
- ^ Duval, Claude (2008-09-13). "Grand dream over for Fergus | The Sun |Sport|Other Sports|Racing". The Sun. http://www.thesun.co.uk/sol/homepage/sport/other_sports/racing/article1681786.ece. Retrieved 2010-10-05.
- ^ "KentOnline Home". Kentmessenger.co.uk. http://www.kentmessenger.co.uk/paper/default.asp?article_id=15366&slide_id=1&newspage=1&searchkeyword=&searchpage=1. Retrieved 2010-10-05.
- ^ "Property tycoons worth £70m demand brand new £3,000 bathroom suite from tenants". Daily Mail (London). August 25, 2009. http://www.dailymail.co.uk/news/worldnews/article-1209013/Property-tycoons-worth-70m-demand-3-000-bathroom-suite-tenants---replace-200-broken-toilet-lid.html#ixzz0PEEq2iPy.
- ^ O'Connor, Rebecca (September 3, 2009). "Former maths teachers sell their property empire as prices creep up". The Times (London). http://www.timesonline.co.uk/tol/money/property_and_mortgages/article6819301.ece. Retrieved April 1, 2010.
- ^ Ryan Kisiel (November 14, 2009). "Mortgage arrears of couple who rode the buy-to-let boom estimated at £350,000". Daily Mail (London). http://www.dailymail.co.uk/news/article-1227624/Mortgage-arrears-couple-rode-buy-let-boom-estimated-350-000.html.
