Shared-Ownership
Shared ownership offers Holiday Home Seekers the opportunity to own a share of a property and enjoy up to 13 weeks every year. Shared ownership enables Investors to enjoy the same benefits of high rental yields and potential capital growth without the sole responsibility and higher personal financial commitment of outright property ownership.
Surveys have concluded that most outright owners spend 6-8 weeks per year in their property, but have to pay costs (rates, insurance, utilities, maintenance, periodic repainting of exterior & interior etc.), for 52 weeks.
Essentially, Shared ownership allows like-minded people to purchase a property outright by combining their resources. So, rather than one individual owning a property, there are, say, four owners. Each shared owner enjoys the same amount of time in the property each year, whilst also participating fully in the long-term value-growth of their property over time. Surveys have concluded that most outright owners spend 6-8 weeks per year in their property, but have to pay costs (rates, insurance, utilities, maintenance, periodic repainting of exterior & interior etc.), for 52 weeks.
The procedure for shared ownership is similar to sole purchase except for an additional pre-signed shared ownership agreement. This legal agreement records the intentions and purposes of the share owners and the details of the property being purchased, details and procedures including occupancy schedules, responsibilities to each share owner in maintaining occupancy standards, rental terms if relevant, and procedures for selling shares in the future. It gives each co-owner peace of mind that their investment is always in good hands. The whole purchasing procedure is handled by fully indemnified British and International lawyers who ensure all procedures and payments are legal and secure.
Are you Holiday Home Seekers or Investors?
For those seeking a holiday home .Shared ownership is ideal for family groups, fellow golfers or club members, work colleagues, friends, or simply like minded individuals who want the same things but cannot justify the financial obligation and ongoing costs of outright ownership. Each shared owner enjoys the same amount of time in the property each year over a four year cycle ( see occupancy schedule ), whilst also participating fully in the long-term value-growth of their property over time. 13 weeks each and every year and share costs equally. It is a good stepping stone to buying a property abroad outright by committing to a much reduced financial outlay, experience less concerns, enjoy holidays with your family in your own home, and still have an equal share in any future capital growth.
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For Investors who are looking primarily at property abroad as part of their investment portfolio. Shared ownership offers the opportunity to enjoy the same benefits of high rental yields and potential capital growth without the sole responsibility and higher personal financial commitment of outright property ownership. Share the risk and rewards of investing in the property market with like minded Investment partners with the same or divergent mix of skills/knowledge to you. Share the risk, split the rewards. Of course the obvious advantage of investing with others is that the costs are split, and the thing that drives you on is your share of the rewards. Teaming up with others can mean you'll have more funds to play with and forging a formidable investment partnership.
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