Arguments against buying in Scotland?

[girlscoutmom]

So I've heard all of the arguments in favor of buying Scotland, namely lowest MF, but what are the arguments against? (FWIW, I'm thinking of buying 3 BR lodge, 8400 points, directly from HGVC resale guy, John Pringle...)
Anyone have a personal experience that was negative?

 

[PigsDad]

Those low MFs could become high MFs with currency fluctuation. I seem to recall not that many years ago the Scotland properties' MFs were higher than most.

Kurt

 

[CalGalTraveler]

I am not sure if this is an RTU or a deed. Either way, this would fall under the laws of Scotland which may be very different that what we are familiar with in the U.S. e.g. days allowed for rescission, legally renting your unit, legal recourse/liability if management does something wrong, legal liability if someone gets hurt, privacy laws in advertising your unit with GDPR etc.

I like to buy what I know - and this is out of my wheelhouse. (but could be convinced otherwise with some education.)

 

[Melifluonze]

You have a PM...

 

[ConejoRed]

I own in Scotland and it is a perpetual right to use certificate. It made the purchase very easy (no deed) and there is no end date. Currently the exchange rate is favorable, but that could change, but the amount I saved up front will last me a while if it gets to an unfavorable position. The only quirk is that it is a fixed week and automatically reserved each year so you have to call HGVC to cancel it to revert it to points, but it is a simple call.

 

[girlscoutmom]

I own in Scotland and it is a perpetual right to use certificate. It made the purchase very easy (no deed) and there is no end date. Currently the exchange rate is favorable, but that could change, but the amount I saved up front will last me a while if it gets to an unfavorable position. The only quirk is that it is a fixed week and automatically reserved each year so you have to call HGVC to cancel it to revert it to points, but it is a simple call.

I see. thx! what happens if you forget to call? is there a deadline by which you have to call?
thanks again

 

[ConejoRed]

You have up until 30 days before the start of the fixed week to cancel and have the points go to your account. If you don’t cancel then you would just have the week to use, but you would then need to make travel arrangements on short notice. Depending on when your fixed week is, if it is close to the end of the year you may then need to roll them forward as well. Since I don’t plan to use my fixed week (although I have been to the resort, but used the points to stay in the Suites section), I just cancel it as soon as I am able to (you can do it about 18 months out I think) so I have the points available for other reservations.

 

[Mosescan]

I own several. HGVC in Scotland will also rent your unit out for you. Their fee is 20% plus 4% VAT. Depending on what week you own you will cover your maintenance fees or make much more if you have a high season week. I’m currently trying to rent out my two summer weeks.
I worked directly with John and he was great. I think I’m likely the one who started recommending him to others here.

 

[USDave]

Can I ask - what sort of resale purchase cost are the Scottish lodges and MF's please for say 5000 or7000 points

Are they bought in dollars or pounds?

Thanks

 

[GT75]

Can I ask - what sort of resale purchase cost are the Scottish lodges and MF's please for say 5000 or7000 points

Are they bought in dollars or pounds?

Refer to this thread. (https://tugbbs.com/forums/index.php?threads/elite-status-at-resale-prices.267443/). This should answer some of your questions.

 

[USDave]

Thanks GT75

Some useful info there. Still keen on any recent examples others may have

 

[ConejoRed]

I paid around $3000 plus closing for a 7000 point platinum week about 3 years ago. Maintenance feees this year were just over $900 (at the exchange rate at the time).

 

[danor71]

So I’ve been researching the right to perpetuity. It seems this right is passed on to your estate after death which essentially makes this a “forever” ownership.

Can anyone chime in on this?

Thanks

 

[USDave]

I paid around $3000 plus closing for a 7000 point platinum week about 3 years ago. Maintenance feees this year were just over $900 (at the exchange rate at the time).

Great thank you

 

[Xpat]

So I’ve been researching the right to perpetuity. It seems this right is passed on to your estate after death which essentially makes this a “forever” ownership.

Can anyone chime in on this?

Thanks

As far as I know, Craigendarroch doesn't have an expiration date. When I bought my week I found that surprising, as other timeshares I own that are RTU/Certificate-based have an end date many years in the future. The agent who sold me my resale Craigendarroch Lodge week did mention that the owner had passed on and that the children didn't want the ongoing maintenance fees.

For what it's worth the reason I picked Craigendarroch over the other Scottish HGVC resorts is HGVC's recent investment in converting the Hilton hotel into the Craigendarroch Suites, which gave me comfort that there will likely be continued HGVC endorsement of the resort for the foreseeable future.

 

[Xpat]

So I've heard all of the arguments in favor of buying Scotland, namely lowest MF, but what are the arguments against? (FWIW, I'm thinking of buying 3 BR lodge, 8400 points, directly from HGVC resale guy, John Pringle...)
Anyone have a personal experience that was negative?

I haven't had any negative experiences with my Craigendarroch Lodge week. In fact, I sold my Vegas Boulevard week a year after buying my resale Craigendarroch contract and cannot tell any difference in using HGVC other than having to call once a year to convert my fixed week to points and paying maintenance fees directly to the resort rather than via HGVC.

As others have said, the combination of low purchase and MF costs is attractive, as long as the local currency doesn't strengthen too much. Electricity charges are billed to the user of the unit, which works in favor of owners who exchange their weeks for points to stay somewhere else. There's also a good level of transparency on how the resort is managed, thanks to an online official owners club where documents are uploaded.

If things like elite status are not important, you may be able to find an even better deal by working with one of the reputable UK based brokers.

 

[DannyTS]

What is the interval of time to call to deposit the week for HGVC points (the earliest and the latest)? Say that I buy a week now and the next check in date is August 18th 2018. Can the points still be used in 2018?

 

[dayooper]

Are there any taxes or other fees here that are not associated with the US properties?