Is The Era Of The Amateur Landlord Over?
Fergus Wilson, billed by PropertyDrum as the UK’s largest amateur landlord, is set to sell his portfolio of 900 rented homes, valued at a total of £250 million, to a consortium of Arab investors.
Wilson claims that Brexit has made it easier to sell, with foreign investors getting a good deal on exchange rates, due to the pound having plummeted to a 30 year low.
He claims that now is the best time to sell. In his view, the era of the amateur landlord is over, as it becomes increasingly difficult to get a Buy to Let mortgage with a Loan to Value of over 60%.
To read more from Mr Wilson, see this article in Property Drum