Tycoon raises rents £50 just 1hr after bank rate increase
A CONTROVERSIAL buy-to-let tycoon slapped £50 a month on rents for 400 tenants within an hour of the Bank of England’s 0.25% loan rate rise to 0.75%.
Fergus Wilson, 69, said he was just keeping pace and had cut rents when interest rates fell.
He added: “People have to understand that there’s a shortage of firemen, of nurses, of doctors, of surgeons, of bricklayers, of houses – there is no shortage of tenants. It’s a big, bad world. “If you have 20 houses and 19 tenants, rent goes down. If you have 19 houses and 20 tenants, rent goes up. At the end of the day, I didn’t make this decision.” Last year Mr Wilson banned single parents, and “battered wives” from his properties. A court also ordered him to stop blocking “coloured people because of the curry smell” when they moved out.