Buy-to-let Bovey meets bailiffs
One of Britain’s more famous letting agents, Grant Bovey husband to perfect housewife Anthea Turner, has been served with legal papers by bailiffs last Friday 24, July.
Bovey’s own company Imagine Homes, which was one of Britain biggest buy-to-let companies, has recently been folded owing £50 million in debts. Imagine homes recorded loss of £6.4 million in the spring of 2007 and a previous £2.8 million the year before. Many of his former employees, including his cleaner say they are still owed money and wages from the couple.
Although this news will attain little sympathy from many as thousands lose their homes and jobs, the public effectively inherit a £20 million share of Bovey’s debts. The property empire was handed to over to Lloyds TSB, who in turn have been bailed out by 43 percent from the state and taxpayer.
Bovey and Turner have recently had to downsize their £11.5 million house with pool, in-house cinema and polo field and the centre of Anthea’s ‘Perfect Housewife’ show to the former home of Radio 2 DJ Chris Evens. They also had to sell their French alpine chateau soon after the company collapsed.
Bovey, who profusely denied any financial difficulty, has quickly set up a new company, Distressed Property Company, who buys up property that developers have been unable to sell on since the economic downturn.
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July 27th 2009
- Buy-to-let landlords benefit from growing sales sector
- Buy-to-let property on the rise
- Rents stabilise while buy-to-let prices rise
- Rent falls as supply rises
- Buy-to-let sector reliant on future outlook
- Licence taken from landlord due to unfit property
- Buy-to-let investors are mainly British
- Landlords must have sufficient Let Property Insurance
- Funding that is designed to reduce the risks of buy to let
- Rent prices continue to fall