Fractional ownership praised by property firm

A property firm has praised the flexibility and opportunities that fractional ownership offers.

Director of Seek & Buy Properties Overseas Alan Bonner told the Peterborough Evening Telegraph that business is currently booming as investors seek bargains and the value of the pound improves against foreign currencies.

Discussing the company's involvement in fractional ownership, he stated: "It is ideal for clients who can't afford to buy a property outright, or don't want to because they will, on average, only use the property for four to six weeks of the year."

Rental income and capital growth are among the financial benefits that can be derived from such an investment, he noted.

Mr Bonner revealed that half his enquiries are for Spain at present, although countries like Portugal, Cyprus, France, Turkey and Bulgaria are all getting attention.

The improvement in the value of sterling could help make euro mortgages taken out for Spanish property automatically cheaper, making now a potentially good time to take one out, Miranda John of mortgage broker Savills Private Finance recently told the Daily Telegraph.