Time-Ownership at Underscar

time ownership

The concept is simple. Instead of buying a holiday home outright (always assuming you could find the one you wanted at a price you could afford) time-ownership is about buying the right to occupy your chosen cottage for the time you choose. You free yourself from the worries about upkeep, and just buy the week or weeks that you want to spend at the site each year.

This arrangement at Underscar provides a luxurious holiday home with extra amenities, like our Owners leisure club Oxley’s and a level of service that would not otherwise be possible for most people. This is time-ownership at its 5* best.

Time-ownership Governance

In 2010 the UK Government adopted regulations to ensure that time-ownership was run in an open and informative way – no hidden costs, no unfair liabilities! They were encouraged to do this by Timeshare Association for Timeshare Owners and Committees (TATOC), the consumer organisation set up to support timeshare owners across the UK and abroad. www.tatoc.co.uk. They encourage responsible management, and like all vigorous consumer organisations, highlight the sins of the few remaining ‘bad guys’ in the business.

At Underscar our time-ownership site is run as a company limited by guarantee, collectively run for the benefit of all owners. The Board is made up of Owners’ Club members who are concerned to keep our holiday cottages in 5* condition. The Board is elected at the AGM, and is unpaid.

The Board works closely with our site agents, Fisherbeck Management Ltd (FML), who manage our paid staff on site, and commission all maintenance and refurbishment. FML own Oxley’s Bar and Bistro. They also run a holiday letting business Heart of the Lakes through which they act as our agents for sales, rentals and swaps at Underscar.

Is time-ownership right for me?

It is of course a commitment. Your purchase contract for your chosen week in a cottage at Underscar means that you agree to pay your maintenance fee every year, until the lease expires in May 2078. You can pass on your ownership rights to family, or you can resell to anyone who meets the requirements for club membership.

If now and then you decide not to come in your chosen week you can swap your week internally. Or if you seek to go further afield you can swap through our exchange agency Dial an Exchange.

Rules & Regulations of Underscar Time-ownership

These rules and regulations should be read in conjunction with the Articles of Association adopted by the Underscar Owners’ Club Ltd at its general meeting of 31st May 2015. We want all owners and visitors to enjoy their time ownership, and treasure good memories of each wonderful Week they enjoy in the Northern Lakes. Underscar is a haven of peace and tranquillity.

The rules are designed to promote the friendly atmosphere, considerate occupation, and 5* environment that are the essence of staying at Underscar.

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