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F.A.Q’s.
- Is this not just another name for timeshare?
- Will my fraction increase in price or lose it’s value?
- Can I rent out the weeks I do not us?
- Is it easy to re-sell my fraction?
- Do you offer finance?
- What are the ongoing costs?
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Is this not just another name for timeshare?
Not at all, whilst Fractional Ownership does have some similarities like having designated usage, this is where it ends. With Fractional Ownership you will be a part owner of a freehold property and therefore an appreciating asset, unlike timeshare which depreciates as time goes by due to the right to use diminishing.
There are many positive aspects of Fractional Ownership of freehold property over timeshare which one of our advisors will gladly discuss with you.
Will my fraction increase in price or lose it’s value?
Due to you owning a share of a freehold property the price increases will match those associated with buying a property outright. At the same time however, property prices can go down as well as up!
Can I rent out the weeks I do not us?
Absolutely, you own the fraction and therefore any time you are not using it you are free to rent out your weeks on the understanding that you take full responsibility for whoever occupies the property during your ownership periods.
Is it easy to re-sell my fraction?
You are free to sell your fraction at any time with the only provision being you have to offer it to the other owners of the property first. If none of these existing owners wish to purchase your fraction then you may sell it to whoever you wish at the same price offered to the other existing owners.
Do you offer finance?
Unfortunately we cannot offer a finance facility in Spain secured on each individual fraction, we can however provide finance facilities through various banks and companies on either an equity release basis or personal loan in your country of origin and always subject to status.
What are the ongoing costs?
Apart from the management fee which varies according to the fraction purchased, all running costs are shared between all of the owners, except for the utilities (Electric etc.) which will be billed according to each owners usage. We also establish a sinking fund to cover any major expenses later on.