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G UIDE T O S HARED O WNERSHIP P ROPERTY IN S PAIN SPANISH OWNERSHARE - LET OUR EXPERTISE BE YOUR ADVANTAGE


B EST P ROPERTY P RICES T HIS C ENTURY Coupled with the best sterling Euro exchange rate since before the worldwide crash. With mortgages becoming harder to achieve, it’s time to look at a completely new concept for buying your holiday home in Spain... Take advantage of the best property prices this century with Spanish Ownershare. Spanish Ownershare gives you all the advantages of owning a Spanish property without any of the drawbacks, these benefits include: • No mortgage payments ever • Reduced running costs • Potential holiday rental income when you’re not using your property • A fully maintained property • An asset you can sell at any time • Best available property at the lowest possible price

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Spanish Ownershare’s research shows that many clients are unable to buy their dream luxury Spanish property due to the capital injection required, being as much as 95,000€ on a 200,000€ property. This is made up of 60,000€ balance on a maximum 70% mortgage, 20,000€ on property taxes and purchase costs and up to 15,000€ to furnish the property to a high standard.

Now, for the first time, Spanish Ownershare offers a real alternative to outright purchase with your dream holiday home, fully furnished ready to use, priced from as little as 55,000€. Enjoy it for three months of the year alongside all the benefits of full property ownership. We at Spanish Ownershare only select the best below market value properties either as bank repossessions or as distressed properties, thus enabling clients to purchase their quarter share at the best possible prices. We offer three entry options based on the total purchase price of the property, including all purchase costs associated with shared ownership, and will equip it with brand new furnishings ready for your own use or for rental.

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P ROPERTY O PTION: L UXURY SHARE €55,000

Well located two bedroom two bathroom apartment with wonderful on-site facilities, including swimming pools, all set in tropical landscaped gardens. The property is modern in style with cream marble flooring as well as a stylish fitted kitchen. Situated next to a golf course, the apartment is within reach of shops, restaurants and the beach in less than five minutes and Málaga Airport in 40 minutes. Price – 55,000 euros for a quarter share including buying costs and furnishing. An unbelievably fantastic opportunity.

NB. These pictures are a very good indication of the luxury apartment you will be buying with Spanish Ownershare but, due to supply and demand, it’s possible that this might not be the exact property that you purchase

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P ROPERTY O PTION: D ELUXE SHARE €68,000

This large two bedroom two bathroom apartment is situated within a luxurious multi award-winning development. On-site there is a choice of many facilities to enjoy including beautiful swimming pools surrounded by lush gardens - a real tropical oasis. Inside the home has a spacious living area and there is cream marble flooring throughout. The location is near-perfect within walking distance of the beach and all amenities, a six minute drive from chic Puerto Banús and under 45 minutes from Málaga Airport. A great opportunity for personal or rental use.

NB. These pictures are a very good indication of the luxury apartment you will be buying with Spanish Ownershare but, due to supply and demand, it’s possible that this might not be the exact property that you purchase

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P ROPERTY O PTION: S UPERIOR SHARE €82,500

An incredibly spacious three bedroom two bathroom contemporary style townhouse in a thoughtfully designed development with attractive swimming pools and communal areas. Set amongst natural parks, the property has relaxing lake and mountain views from the numerous terraces. Benefitting from a large kitchen and substantial living room, the home is just a seven minute drive from the hotspot of Puerto Banús.

NB. These pictures are a very good indication of the luxury apartment you will be buying with Spanish Ownershare but, due to supply and demand, it’s possible that this might not be the exact property that you purchase

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W HAT I S S PANISH S HARED O WNERSHIP? This is the joint ownership of the freehold of a luxury property where each person owns a quarter of that freehold. It is the ideal way to own a luxurious holiday home, as it offers you the standard you require, yet eliminates the cost and hassle associated with owning and maintaining a property all year round. Research shows most holiday home owners only use their property for a maximum of 40 nights per year, yet they pay for 365. Shared ownership enables owners to enjoy 84 nights per year but only pay a small percentage of what it costs to own outright! Once you’ve bought your share it is yours forever and can be left to family members or sold on the open market. You can either choose to use your home for your own use or potentially get rental return in the form of holiday rental income. When you buy Spanish shared ownership your luxury property will be fully furnished, fully serviced and fully managed on your behalf.

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LET OUR EXPERTISE BE YOUR ADVANTAGE


H OW D OES S PANISH S HARED O WNERSHIP W ORK? Shared ownership works in precisely the same way as outright ownership where the property is yours to keep until you decide to sell. It may benefit from capital appreciation and, on selling your share, any profit is yours to keep. Where it differs from outright ownership is that there is more than one legal owner, reflecting the fact that the property is split into equal shares. Spanish Ownershare specializes in shared ownership with 4 owners per property. All owners have an equal stake and each owner is entitled to 3 months use per year. Any excess time is used by your management company for property maintenance and redecorating. Owners are free to swap weeks amongst themselves or to rent the property out during their allocated time periods. This has to be done through the property management company.

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W HAT A RE T HE B ENEFITS? Spanish Ownershare... 1.

All running costs are shared equally between owners so you align your costs with your

usage – making it a truly affordable and logical option

2.

You don’t have the financial burden of maintaining the property all year round so it

will never become a drain on your resources

3.

The property is fully furnished to a luxury standard and will be serviced on your behalf

by the management company

4.

Properties are located on quality developments

5.

You can use your property for 84 nights per year, every year – making it a smart and

secure option.

6.

You are free to rent the property and earn an income from it. This can be done for any

of the weeks that you do not intend to use the property yourself

7.

Your property is freehold and is likely to rise in value over time. You are free to sell your

share in the property at any time – and any profit is yours to keep

8.

The property is yours in perpetuity and can be left to loved ones. On average, a

traditional holiday home owner only uses their property for a maximum of 40 nights per

year, yet pays for the whole year! (Source: National Association of Realtors study)

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W HO A RE T HE O WNERS? Spanish shared ownership enables unconnected individuals to combine resources and share ownership of the freehold of a property. You don’t have to find or know the other owners. It is the responsibility of appointed real estate agents to bring together the buyers. Before each potential owner can purchase a quarter of a property, they are required to complete a due diligence questionnaire and provide certain documents. This questionnaire seeks to confirm the eligibility of the owners and offers you peace of mind that your co-owners are reliable individuals. What’s more, the sales contract is a highly comprehensive document and contains clauses to protect you from anything that may cause conflict between yourself and your co-owners. Whilst it is not necessary to meet or know your co-owners, experience has shown us that co-owners often become good friends and associates.

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W HEN C AN I U SE M Y L UXURY S PANISH P ROPERTY? 84 nights / approx 3 months usage per year. When you purchase a quarter share, you can use the property for 12 weeks (3 months) per year on a rotating basis following the chart opposite. Quarter owners generally have use for 12 weeks per year. Owners are allocated a different 12 weeks every year so, after four years, you will have used the property for every month of the year. You are free to swap with your co-owners if you don’t want to use any of your allocated time for that year – you just need to inform your property manager. You are also free to rent the property out or let friends and family use it. N.B. In some locations, excess weeks are used for routine property maintenance.

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W HO L OOKS A FTER M Y P ROPERTY? One of the many benefits of Spanish shared ownership is that your property is fully furnished, fully maintained and fully serviced by an experienced management company – so you don’t need to worry about a thing. The management company plays an essential role in the day to day life of Spanish shared ownership. Each owner will expect their property to be looked after and cleaned prior to use and for any repairs or maintenance to have been carried out. Having a management company look after your property is a huge benefit as you never need to worry about the safety, condition or upkeep of your property. Your management company will arrange all aspects of your property including: • liaising with the community and the local authorities when required, including connecting all utilities • arranging time allocation between all owners • liaising between owners on joint decisions regarding the property such as replacing broken or

worn items

• paying all community fees and taxes • cleaning of the property before arrival, arranging for key collection upon arrival and, once again,

cleaning after departure

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HOW MUCH DOES IT COST? Spanish shared ownership is available to buy from 55,000€ for a quarter share. All buying costs and taxes are included in the purchase price and the property comes fully furnished to an extremely high standard. Owners are required to pay an annual fee for the property management service and also make a yearly contribution to a “sinking fund” which pays for regular redecoration and the repair or replacement of household items. The relevant percentage of community fees must also be paid by the owner for their quarter share - the specific amount will vary depending on the particular property chosen.

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THE BUYING PROCESS Buying Spanish shared ownership in a property is straightforward. We have included this brief explanation of the buying process to give you an idea of the main steps. Please speak to your Spanish shared ownership consultant if you require more detailed information.

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STEP 1 / Make your enquiry and learn more about the benefits of shared ownership. STEP 2 / Once you have chosen the property that suits you best, you will need to complete a due diligence questionnaire. Your questionnaire will be sent for approval before your application can be accepted. STEP 3 / On approval of your due diligence, you will need to pay a €3,000 reservation fee to freeze the price and remove the quarter share from the market.You will receive a contract outlining all details, clauses, rules and regulations of shared Spanish ownership. Your reservation deposit is fully protected in an escrow account STEP 4 / On signing the contract and payment of the balance you will receive the following documentation: • UK company details • a membership certificate of the relevant UK limited company • certification of incorporation into the UK limited company • a copy of the title deeds of the property • list of rules and regulations • plans and specification of works • inventory of fixtures, fittings and furnishings • property management agreements • details of the administrator and officers STEP 5 / Start enjoying your new home!

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CAN I SELL MY SHARE? You are free to sell whenever you like. You must offer your share to co-owners before it goes on the open market. As the property is yours ‘in perpetuity’, you can also leave it to loved ones. Spanish shared ownership works in exactly the same way as full freehold ownership; the share is yours in perpetuity or until you decide to sell. The only stipulation is that you are obliged to give your co-owners first refusal. You can sell your share at any time and benefit from any capital appreciation relating to the value of the property. Spanish shared ownership properties are subject to the same market forces as outright ownership properties and, as they are either bank repossessions or distressed sales, will be bought at the lowest possible price.

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HOW THE LEGAL SIDE WORKS Buying a Spanish shared ownership property is slightly different to buying a full freehold as it has its own legal structure. This guarantees the safety of your purchase and allows for the correct management of the property. As there are multiple owners, a UK company is set up to buy the property and then the 4 buy into the company, in turn becoming equal equity owners of the property. When you buy a quarter share of the property, you are actually buying a quarter share in the company.

ACT NOW! Spanish Ownershare has a limited number of the very best properties at these wonderfully low prices,

NOW is the time to act to ensure you can be part of this exciting innovation.

Why? This structure is essential to ensure the security of your investment. It prevents any of your co-owners from using the property against a loan or debt.

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SPANISH OWNERSHARE: THE FACTS Why should I buy a Spanish Ownershare Luxury Property? It is quite simply the most effective way to buy a luxury holiday home in Spain and vastly superior to the two other best known methods - outright property ownership and timeshare. Spanish Ownershare V Outright Spanish Property Ownership The reality is most international holiday home owners use their holiday home for a maximum of 40 nights per year but carry the whole annual costs associated with owning a property outright. Therefore Spanish Ownershare is vastly superior for the following reasons: • Buying a property for a fraction of the costs of owning a property outright • Paying a fraction of the annual running costs of the property • The possibility of obtaining holiday rental income when you are not using the property • A fully maintained cleaned and ready to use property furnished to the

highest standards

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Spanish Ownershare V Timeshare Ask yourself two simple questions: does timeshare really represent value for money? when you sell timeshare will you ever get back all, or indeed any, of the money you paid for it? Spanish Ownershare is vastly superior for the following reasons: • You get 12 weeks usage for the approximate cost of 2 Gold Weeks in the Costa del

Sol’s best timeshare resorts

• You immediately own 25% of the company that owns the property hence you own

an asset that could go up in value

• The possibility to get rental income when you are not using your property • A high quality luxury property in Spain furnished to the best standards

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SPANISH OWNERSHARE Spanish Ownershare is a fully owned subsidiary of Spanish Hot Properties SL, a leading real estate company in Spain and a name you know you can trust. As Spanish shared ownership is a relatively new concept for the UK market, a great deal of research and legal analysis has been carried out to give our clients total confidence that the product and process are 100% safe and secure. Spanish Hot Properties has teamed up with The Fractional Ownership Consultancy (FOC), the UK expert in shared ownership with eight years’ experience developing and managing joint ownership projects in Portugal, Greece, France, UK, Italy, USA, Spain and elsewhere. SPANISH

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Approved Lawyers for Spanish Ownershare Medio y Heredia Abogados, Boulevard Alfonso de Hohenlohe, Marbella 29602 E-mail: abogados@medioyheredia.com Web: www.medioyheredia.com

C/Single HomeC C1, 29600, Malaga, Spain R ENagueles ST GROUP ownershare@spanishhotproperties.com · (UK) 0044 207 558 8355 · (Spain) 0034 952 864 382 INTERN

AT IONA L

www.spanishhotproperties.com


Spanish Ownershare