Method 3. Shared ownership

If you use our calculator to work out how much UK capital this will release by converting to interest only. Ask 5 of your friends you would consider lifelong friends to do the same calculation.

	amount raised	percentage ownership	shares	weeks	given	owed to group
you	£ 50,000	27.78%	2778	13.89	14	0.1
friend 1	£ 30,000	16.67%	1667	8.33	9	0.67
friend 2	£ 60,000	33.33%	3333	16.67	17	0.33
friend 3	£ 20,000
friend 4	£ 20,000
friend 5	£ 40,000	22.22%	2222	11.11	12	0.89
forget the lowest 2 and the team has	£ 180,000				52

It's not necessary to drop the lowest 2 if the country allows more than 4 owners.

You can now buy a home with out a foreign mortgage if your money buys the home through a company with 10,000 shares. In some countries companies buying property are exempt for the purchase tax. Each will get the shares shown.

If one wants to sell, you just value the property at today's price and their percentage of ownership is the percent of price for them to sell at (even more if they are lucky. Don't forget to have the rest to have first option to buy and that any new purchaser has to be agreed on by the rest of the group written into the agreement.

Allow 1 week for maintenance (if this isn't necessary and these weeks are let then they go into the companies funds or are split according to shares). Remember you are all a team so make sure your friendships will last. Use a fair rotation system to change the weeks year to year.

The simplest system is this:

owner 1 gets weeks	1-14
owner 2 gets weeks	15-23
owner 3 gets weeks	24-40
owner 4 gets weeks	41-51

The following year, each owners weeks are moved on by 13 weeks.

But this is up to you guys but remember to get this all agreed amicably before you buy. Don't forget if someone has a week you would like then you can easily swap. Lastly each year one owner is responsible for controlling the bank acct of the company. Don't forget the electric and water bills and the mortgage. Will becoming out of the acct and if not the funds are not there problems will arise. Especially if a renter arrives to find no water and electric at the start of their once a year holiday.

I suggest setting up a UK joint bank acct for the 4 of you and paying all rentals into the acct. Then at the end of each year any profits can be split by the owner in control that year. You will also need to open a bank account in the country that you are purchasing the property in. Direct debits etc will be paid from this account.

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