Britain's biggest landlord
has been caught in Brexit turmoil as he attempts to sell 1,000 properties just
as buyers are stalling and pulling out of deals en-mass over market fears.
Fergus Wilson had planned to
offload his entire portfolio of around 900 houses to a pool of foreign
investors, which include both wealthy individuals and institutions.
The Telegraph revealed that the property tycoon is still
waiting for a large number of exchanges to complete, meaning some deals could
potentially collapse amid the turbulence.
"Ten years ago I housed
a lot of single mums and battered wives who were a good category of tenant.
They were pretty good at paying the money and looking after the houses. But
then in about 2005 the eastern Europeans started coming and they made really
good tenants. I haven't advertised a property for five years because they
always ask - can my friend move in?"
Lawyers and property firms
are warning that large numbers of buyers are postponing or pulling out of
property deals as a result of the Brexit vote, over fears that economic
uncertainty would make their purchase unaffordable or hoping that prices will
fall over the coming months or years.
A number of firms have
reported that residential property deals were falling through with one firm,
The Partnership, claiming 50 per cent of deals were collapsing, a level it
described as “unprecedented”.
Credit: Telegraph
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