Buying with piece of mind

Welcome to the world of shared ownership

FNTC is part of IFG Group Plc, a Dublin based financial services company quoted on both the London and Dublin stock exchanges.

FNTC is the market leader in providing consumer protection and support services to the shared ownership industry.

The Facts

Fact 1: Shared ownership or timeshare is a growing holiday concept. There are now more than 5,300 projects located in more than 90 countries, with over 6.2 million owner families worldwide.

Fact 2: Independent studies show that over 75% of UK owners are satisfied with their purchases and 7 out of 10 would recommend buying to others.

Fact 3: The shared ownership industry through its European trade association, OTE, continues to adopt increasingly stringent standards of self-regulation providing owners with higher levels of protection.

Shared Ownership – A definition

There are lots of names for shared ownership; timeshare, multi-ownership, fractional and vacation ownership are just a few. Whatever it’s called, it all comes down to the same thing. “Shared Ownership” means buying the right to spend a period of time on holiday each year in a villa, apartment or other type of accommodation, at a resort or location of your choice, usually for a fixed number of years.

You can buy shared ownership in a variety of different ways but the most common are:

  • Fixed weeks
  • Floating weeks
  • Points
  • Fractional
  • Private Residence or Destination Club

As well as using it yourself, you can let friends or relatives use your shared ownership, or you can rent it out. Also, owning time at a resort which is affiliated to an international exchange organisation, means that you can “exchange” your shared ownership rights and take a holiday each year at many different resorts around the world.

What do you really own?

You are buying the right to use a property or properties for a period of time, for your future holidays. Or, in the case of fractional ownership you may own an interest in the underlying legal title through a trust.

The economic case for shared ownership

What you are effectively doing when you buy shared ownership is to fix the price of future holidays at today’s prices.
There are four main elements involved in buying and using shared ownership;

  • The initial purchase price
  • The annual management fee for the upkeep of the resort
  • The cost of getting to and from the resort
  • The exchange company

Usually the price of your shared ownership will depend on:

  • The location of the resort
  • Its exclusivity
  • The size of the accommodation unit
  • The quality and range of the accommodation
  • The length of the vacation ownership interval and the season purchased – low, medium or high
  • The sporting and leisure facilities available

Further Advantages

Apart from the strong economic case for buying shared ownership, the main advantages most often cited by shared ownership buyers are:

  • The extremely high standard of accommodation. Most resorts offer a standard of accommodation which is far superior to that normally available on traditional “package” holidays. Access to premium quality accommodation is one of the most distinguishing factors of vacation ownership.
  • The exchange services offered by the two international exchange companies Group RCI (RCI) and Interval International (II). When you become a member of a club affiliated to one of the exchange companies, you gain access to a world of exclusive holidays.
  • Opportunities not available to the ordinary holiday maker. The exchange system offers you a global network of apartments, villas and other types of accommodation in some of the most beautiful and attractive places in the world. Research shows that the most satisfied shared ownership buyers are the ones who make the most of the exchange facilities.
  • The routine responsibilities of owning holiday accommodation are taken care of by a professional organisation – the management company.
  • You know in advance exactly what your accommodation will cost. Unlike traditional “package” holidays, there are no single person supplements or extra charges for additional people.
  • Shared ownership often brings other privileges, such as discounted travel, specialist insurance and exclusive rights to membership of golf clubs or other sports and leisure facilities, which may be affiliated to, or associated with, the resort.
  • There can be a great sense of community among owners at resorts. If, for instance, you decide to visit at the same time each year you’ll meet friends made in previous years.