The family has lived on the estate since 1414

William Williams-Wynne's family have occupied the Peniarth estate at Tywyn, north Wales since Henry V's time.

But he says he will be homeless after judges dismissed his bid to appeal over his ex-wife Veronica's settlement.

After the hearing, the baronet, 59, said: "They've bust me. I'm the 20th generation of my family on the estate but this is the end of the road sadly."

"The estate is held in a family trust and they've increased my rent by 300% and I just can't afford it.

"I'm moving out and I'm going to be homeless. It's absolutely unbelievable

He cannot eat it, he can't go on holiday with it, he can't fill his car with petrol with it and he cannot spend it" William Williams-Wynne's barrister

The baronet added: "We are the oldest family in Wales. The estate dates back to 1412 and we were just coming up to our 600th anniversary. We just haven't quite made it."

The appeal court in London was told by Mr WIlliams-Wynne that the divorce settlement handed to his ex-wife of 30 years by a High Court judge in March was "fundamentally unfair".

His barrister Jeremy Posnansky QC said before their divorce the baronet was worth about �1.4m.

But he was ordered to pay �500,000 to his ex-wife and another �158,000 to buy her out of the family farming partnership.

Mrs Williams-Wynne was also awarded another �250,000 from her husband's family trust, the barrister said.

Light aircraft

All the baronet was left with was the estate, but Mr Posnansky said: "He cannot eat it, he can't go on holiday with it, he can't fill his car with petrol with it and he cannot spend it".

Even if he sold his assets - including his microlight, motorbike, light aircraft and art collection - he would be left with an annual income of about �50,000.

Mrs WIlliams-Wynne, meanwhile, had emerged with "free capital" of around �1.5m, providing an index-linked income of �60,000 a year for life, the court was told.

This is the end of everything I've fought for all my life. William Williams-Wynne

But Lord Justice Thorpe said the baronet had at least kept "the huge benefit of his occupation of the family estate".

Mr Justice Bennett, who dealt with the case in March, had taken the "realistic view" that, in order to retain a reasonable lifestyle "in proportion to the advantages enjoyed by her husband", Mrs Williams-Wynne needed an income of �60,000-a-year.

Lord Justice Thorpe said the baronet had suffered "two great misfortunes" - heavy losses on the Lloyds insurance market and the contested divorce.

Thr court granted Mr Williams-Wynne permission to appeal against the High court judge's order to pay �125,000 towards his ex-wife �350,000 legal costs.

The judges said they hoped the couple would now compromise on that issue and avoid "another disaster" in fighting their case in court.

Outside court, the baronet said; "The whole thing sucks. I simply cannot understand it.