Invest in Scottish Real Estate
Foreigners interested in owning Scotland Real Estate Properties face no special restrictions. Scotland offers many other attractions, including a breathtaking landscape and coastline a distinct culture a quality of life available in few other destinations and scenic golf courses.
The Scotland Real Estate Properties market has farms, townhouses, country houses, estates, and even entire islands for sale.
The Scottish real estate market is now slowly emerging from the boom that it experienced until 2007 and the global recession which began in 2008.
Nonetheless, Scottish real estate is not inexpensive.
Buyers, however, have the option of purchasing a share of the freehold interest in fractional ownership properties such as country cottages.
The freehold interest in a fractional ownership property is in perpetuity. The ownership interest is recorded as a registered title and is inheritable.
The cost of the share of the freehold interest in the property depends on factors such as location, demand, the size and configuration of the cottage, and the weeks of desired occupancy.
Would you be able to secure a mortgage for a freehold interest? It depends on your location. However, you may be able to secure a personal loan to purchase your share. Again, it depends on your location, credit history and other factors.
Purchasers may also be required to pay an annual maintenance charge and a housekeeping charge for the weeks the cottage is at the disposal of a purchaser and/or his family and friends. The management may also ask purchasers to contribute towards an extraordinary expenses fund for regular and extraordinary repairs and maintenance.
Purchasers can also choose to monetize their share by letting the property.
The purchaser can act independently and let a part of or all the weeks allotted to him. The purchaser keeps 100% of the revenue.
The purchaser may also have the option of including a part or all of the weeks allotted to him in a letting program of the property management, which shares the revenue generated from the letting with the purchaser.
Some individuals may make a share purchase solely as an investment and may not want to make use of the weeks allotted to them for the next few years. In such cases, the management lets all the weeks from the purchaser and pays him a fixed rental equaling a percentage of the share price.
It is best to consult a competent lawyer before acting on your interest to purchase a share in any fractional ownership property.
For more insights and further information about Scotland real estate properties, holiday cottages Scotland and fractional ownership property visit our site http://www.machrihanishdunes.com
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