http://www.bloomberg.com/apps/news?p...d=aE3XgycC1fhk
Fergus Wilson, the former mathematics teacher dubbed Britain’s buy-to-let “King,” says he’s selling 700 rental properties before interest rate rises bring “slaughter” to landlords in the U.K. housing market.
Wilson, who together with his wife Judith rank among the 1,000 wealthiest Britons according to this year’s Sunday Times Rich List, said it was inevitable that interest rates would rise from a historic low, pummeling rental landlords.
The Wilsons, called “The King and Queen of Buy-to-Let” by newspapers including the Guardian, last week agreed to sell their investment for 180 million pounds ($289 million) to an asset management company “possibly representing Russians,” Wilson said. He would not identify the potential buyer, citing a confidentiality agreement. The pair stand to make a 90 million- pound profit after taxes and expenses incurred in the sale, he added.
Not bad. See, asset bubbles are not all bad.
Fergus Wilson, the former mathematics teacher dubbed Britain’s buy-to-let “King,” says he’s selling 700 rental properties before interest rate rises bring “slaughter” to landlords in the U.K. housing market.
Wilson, who together with his wife Judith rank among the 1,000 wealthiest Britons according to this year’s Sunday Times Rich List, said it was inevitable that interest rates would rise from a historic low, pummeling rental landlords.
The Wilsons, called “The King and Queen of Buy-to-Let” by newspapers including the Guardian, last week agreed to sell their investment for 180 million pounds ($289 million) to an asset management company “possibly representing Russians,” Wilson said. He would not identify the potential buyer, citing a confidentiality agreement. The pair stand to make a 90 million- pound profit after taxes and expenses incurred in the sale, he added.
Not bad. See, asset bubbles are not all bad.
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