Frequently Asked Questions
"How many people will I be sharing the property with?"
This can be dependent on the location and type of property. In the UK and abroad the number of co-owners is usually restricted to between 4 and 12 shareholders.
"How many fractional shares can I have?"
There is usually no restriction on the number of fractional shares you can purchase on any property or development.
"Can I sell my fractional shares?"
Yes, you can sell at anytime. You can usually choose to sell privately, through your own appointed agent or to take advantage of the Developers own resell scheme for an agreed fee.
"Will there be any annual running costs?"
An annual fee is usually charged, pro rata, to each fractional shareholder. This is to cover the cost of maintaining the property in good order, payments of essential services, local taxes, insurance and the replacement of furniture/furnishings etc. This cost could be reduced or completely offset by any incomes you receive should you choose to rent the property for some or all of the period of your fractional share allocation. These costs will vary with each property.
“Is this just another timeshare scheme?”
No, traditional timeshare only allowed for the purchase of specified dates when you could occupy a property. The timeshare company still owned the property and your share reverted back to them after a certain number of years. Therefore a purchaser had no equity return from their investment but with fractional ownership schemes you own part of the property and can sell your share at any time and benefit from any enhancement in the market value.
“What if I can't occupy or wish to rent out my share?”
Fractional ownership properties usually have several options for achieving a rental income depending on the particular scheme you have entered. You can arrange to rent privately, use an outside agency or the Developers 'in-house' schemes.
"Who are 'The Living Quarters'?"
We are a leading, UK based, international property specialist. We use our expertise to find 1st class fractional property for our clients both here in the UK and overseas.
"How do I finance the purchase?"
There are several ways which you could employ. The most popular method, because of the low entry cost, is using your own existing cash reserves. Alternatively you could raise capital by remortgaging your existing UK or overseas residential home and there are many mortgage providers offering this facility.
Please visit our finance page for more details.
