S21 Notices Issued by Controversial Landlord
The man who is arguably Britain’s most controversial landlord – Fergus Wilson – is likely to be issuing up to 90 S21 notices this week as the long-expected sell-off of properties becomes a reality.
In addition he has sent a statement to Letting Agent Today which hints that most of his 400-strong stock of properties are likely to be on the market by the end of 2019. Wilson himself says that thanks to recent tax and regulation changes targeting landlords, most of his buyers are likely to be owner occupiers.
“The punitive tax measures introduced by HM government simply mean that being a BTL landlord is not as attractive now as in previous years. I have put together a portfolio of top of the range houses in Ashford. This essentially means when sold they will go to owner occupiers rather than private sector landlords who will be seeking higher yields” says Wilson in a statement sent to Letting Agent Today.
The sell-off comes after a series of controversies involving Wilson, 70, and his wife Judith, 68. The most recent was a court decision last month when Judith Wilson had to pay £25,000 in fines and penalties after problems with the hot water supply for a disabled tenant.
One newspaper report says 90 S21 notices are likely to be delivered this week ahead of the sell-off; another report suggests 32 of the homes have already been sold privately with the rest of the Wilsons’ stock likely to be marketed in batches this year.
Wilson’s note to Letting Agent Today continues: “An overview of HM government tactics is that it is preferable for all non-social housing to be held by companies rather than individuals. These companies will be sold on and have an infinite life: private sector landlords do not.”
He concludes: “Many MPs own BTL houses and there is nothing wrong with that. I do believe there should be a register of MPs who own buy to let houses (and number) and this should be extended to elected members of councils.”