LP- Shared Ownership FAQ's - South West Holiday Parks

Frequently asked questions

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Will I actually own a share of the holiday lodge?

Yes, this is holiday lodge ownership, but rather than having to buy the whole unit you’ll buy and own a share of the holiday lodge.

How much of the home can I purchase?

You can purchase up to 50% of the holiday home which is the equivalent of two shares. Shares are sold in ¼ portions, or shares, and each share allows you to use the home exclusively for 70 nights per year.

Can I finance the purchase of my shares?

No, you will need to be in a position to fund your purchase with cash.

How do I schedule stays in my lodge?

We use a simple and intuitive online scheduling system that allows you to easily schedule your stays up to 1 year in advance. A ¼ ownership share provides exclusive access to your lodge for 70 nights per year and two shares equals 140 nights.

Why has the usage been set at 70 nights?

We have decades of experience selling lodges and the average annual usage of an outright lodge owner is 56 nights a year. Therefore we know that our shared ownership offers no compromise. This also gives additional flexibility over the 365 nights to ensure you always get the dates you want.

Is this the same as timeshare?

No, this is real holiday lodge ownership. Timeshare typically gives you the right to use, but not own, a property and often a unit in a higher-density development, or hotel. We help you own and enjoy a unique holiday lodge in a beautiful setting.

Can others use the home without me?

Yes, after registering with us, your family and friends may use some of your allocation even if you’re not present at the lodge.

Is the purchasing process the same as the usual home buying process?

The purchasing process is similar to buying a whole holiday lodge on a pitch licence agreement.

Do I need to interact or agree to anything with the other owners?

No, not at all as we provide a seamless purchasing service that means you don’t need to communicate or agree anything with other buyers. All buyers sign the same documentation when they purchase their shares and once you become a co-owner, we manage everything on your behalf and serve as your single contact point.

Is shared ownership or co-owning a new concept?

Shared property ownership is not a new concept and the model has been successfully used for many years for people to buy holiday property, boats and aircraft, such as private jets. We offer a fully managed purchasing and ownership experience that takes away the hassle, and financial constraints, often associated with owning a second home.

Is the holiday lodge decorated?

Of course and we furnish and prepare your holiday home to our standard before you start using and enjoying it. Not only is it decorated but it is fully fitted out with the best appliances, smart TV’s and inventory to ensure you have the best experience possible.

What are the costs for running and managing the home?

There is a fixed management cost that covers the pitch fee, lodge management and all the additional services and benefits that we offer in our shared ownership programme.

Are there any hidden costs I should know of?

No, this is one of the attractions of shared ownership. There are no additional costs like utilities and insurance.

Who takes care of maintenance and repairs?

We take care of all the repairs and maintenance, wear and tear and general upkeep to ensure the lodge is always in first-class condition.

What if the home is damaged in any way?

We believe that owners treat their second homes with care, but accidents do happen from time to time. We are there to assist if anything happens during your stay and we inspect each home at the end of every stay. Any damages outside of normal wear and tear will be the responsibility of the relevant owner who has used the lodge during the period of damage.

What if I want to sell my share

You can sell your share/s any time after 12 months of ownership. We will assist with this and even undertake the marketing it through our normal channels. We will advise on market value at the time of sale and keep you informed all the way through. The standard holiday lodge resale commission of 15% of the sale price achieved applies to the sale in the usual way.

Will the holiday home appreciate in value?

If the holiday lodge appreciates in value, you will benefit from this, however holiday lodges normally depreciate in value over time.

Can I rent out or let the lodge to holidaymakers?

No, we do not permit letting. This means that you are always safe in the knowledge that you are only sharing with the other three co-owners of the lodge.

Are pets allowed?

Yes, most of our lodges are sold as per-friendly and if the first share is sold to an owner who has a pet then the remaining shares will be sold as pet-friendly and vice versa.

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