BTL Maths Teachers

**AtW** · 3 January 2009, 16:52

Originally posted by Turion View Post

Still buying in 2008, they can no longer roll over the cheap 4.5% loans and will start selling in 2009.

liquidating

They bought too many in same area - they can't sell them all without huge discounts (50%) off. They are totally ****ed.

Just how the ***k it was possible for someone with £10k to amass so much debt?

**PM-Junkie** · 3 January 2009, 16:54

Originally posted by Turion View Post

This couple of 60 year old maths teachers, used the BTL bubble to amass 900 properties, mainly 2-3 bed new builds in Ashford area - all from an original outlay of £10K. At the peak their fortune was estimated at £250mill. and they expected to reach £1 billion as they had a simple formula for success - house prices will double every 7 years.

Still buying in 2008, they can no longer roll over the cheap 4.5% loans and will start selling in 2009. They admit the game is over but expect to come out of it with a sizable fortune intact. Will be interesting to follow this couple over the next couple of years. Will their sums add up. I see plenty of red ink.

http://www.housepricecrash.co.uk/for...hp/t90235.html

If it's who I think it is, there was an interview with them on the beeb a while back. If it is them they are incredibly arrogant, treat their tenants like dirt....I for one would be delighted to see them lose everything - and I suspect I'm not alone.

**AtW** · 3 January 2009, 16:57

Originally posted by PM-Junkie View Post

I for one would be delighted to see them lose everything - and I suspect I'm not alone.

Oh yes... this is that terrible British custom to knock heroes down big time, terrible terrible custom... and I am loving it - so don't say PM that I don't like things in this country

**Purple Dalek** · 3 January 2009, 16:58

You owe the bank a few thousand, you have a problem.

You owe the bank a few million, the bank has a problem.

**Turion** · 3 January 2009, 17:03

They pumped up the price of new build 2-3 bed houses in a relatively small area. They effectively artificially increased values by their own actions and probably overpaid as a result. They reckon they have a 65% LTV buffer. That could well be optimistic and once they start offloading, prices will tank.

**AtW** · 3 January 2009, 17:04

Another article about them: http://www.guardian.co.uk/money/2006...ss.houseprices (that was in 2006)

"But Fergus Wilson predicts that prices will double every seven years and says the typical property he owns - a £200,000 two- to three-bed starter home - will cost £400,000 by 2013, £800,000 by 2020 and £1.6m by 2027."

**bogeyman** · 3 January 2009, 17:10

Originally posted by AtW View Post

liquidating

They bought too many in same area - they can't sell them all without huge discounts (50%) off. They are totally ****ed.

Just how the ***k it was possible for someone with £10k to amass so much debt?

If only they'd had your brilliant insight into all things financial, eh AtW?

What complete and utter fools of themselves they have made by amassing a fortune (if only partly realisable) when they could have been sitting in a bedsit in the West Midlands, typing crap on a message board and 'working' on a SKA (Super-Killer Application).

Pack it in lad. You are getting beyond the pale now.

You have an opinion on everything and expertise in precisely nothing. You have plenty of front, but nothing to back it up with.

I can't presume to speak for the congregation here, but you are getting beyond a joke and losing the plot. The crap you come out with lately is just deluded and sad.

Anyone who hovers over the enter key to post the 'Last Post of 2008' while everyone else is singing Old Lang Syne, or at least fast akip in bed, needs to take stock of their lives and their sanity.

Your massive posting record suggests that: -

a) you are NOT an economic guru
b) you are NOT a brilliant inventor / programmer
c) you ARE in fact a lonely, friendless buffoon

I know you love to play the role of uber-geek but from you posts it is clear that you only know Windows and .NET. Not much geek cred there.

I won't go into your deficiencies in economics as others have already pointed your shortcomings out time and time again.

Take a break and let someone else post on CUK without you jumping in.

**AtW** · 3 January 2009, 17:13

Originally posted by bogeyman View Post

Your massive posting record suggests that: -

a) you are NOT an economic guru
b) you are NOT a brilliant inventor / programmer
c) you ARE in fact a lonely, friendless buffoon

We shall see about that in 2009.

**bogeyman** · 3 January 2009, 17:15

Originally posted by AtW View Post

We shall see about that in 2009.

You will have made millions then through your brilliantly insightful predictions?

Mystic Meg - My Arse!

BTL Maths Teachers