Help - Boat Syndicates

[Guest]

Hi

I love motor boating but have no time to own my own boat now with work pressures etc. One of the things I have been looking into is boat syndication at Windermere Marina Village - they have a Birchwood available and the deal is that up to 8 parties can buy 4 weeks of a 32 week season on the boat - all the management, maintenace and valeting is done by WMV - all owners are insured by WMV and they make sure all owners can look after the boat on the water.

I am considering buying but wondered if anybody have any experience / thoughts on boat syndication........or advice to give me.

If you're interested in becoming one of the other 7 who may join me call 015394 46551 or www.wmv.co.uk

I await your response.

Thanks

Cookie

 

[jfm]

I have exp of syndicates but if it's only 4 weeks better to charter surely?

 

[Guest]

I don't know much about charters?

These 4 weeks are every year for the next 10 years on Lake Windermere and then at the end the boat is sold and the capital is split between the 8 members - which means I get something back for my money whereas on charters I guess I don't.

Have you had a positive experience with managed syndicates?

 

[peterg]

and when the speed limit comes into force....

you'll be limited to 6-8knots? over the whole of the lake so it's a lot of money to go that slow all the time.......

 

[Guest]

Re: and when the speed limit comes into force....

I can't believe they will actually enforce the speed limit. Do you really think it will happen?

 

[peterg]

oh yes....

this government has promised to do it in (I think) 2005 - last time we stayed in Ambleside (a year ago) it was a hot topic amongst the watersports companies around there and we've already heard of one business closing down because of the drop in business....bloody shame I call it!

 

[ccscott49]

Re: oh yes....

Bloody stupid, not just a shame, pressure brought to bear by nimbys!

 

[jfm]

Re: Speed patrol

I wd think they will enforce spd limit. I last boated (a lot) on W'mere 15 yrs ago and there were police boats with blue flashing lights to get the speeder.

I would look further at the economics. Yes you get soemthing back at the end if you buy a timeshare, but that's only becuase you put it in at the start. Capital costs money, though it's very cheap. All I'm suggesting is you rent someone else's capital (embedded in the charter fee) instead of tying up your own for 10 years, and as a bonus you get the flexibility that if you do not want to sail W'mere every yr for 10 years you have freedom to go elsewhere.

I have no exp of managed syndicates, I wouldn't use them as a matter of personal choice, all mine are private between 3 people per boat. I notice from ads that lots of managed syndicate operations are starting up though. I would want to be sure of what exactly you own for your money, a share in a boat is fine if part 1 registered but is a bit woolly (legally) otherwise; you dont have that worry with charter. Eaxample - if the synidicate company owns the boat and goes but, you lose yr money. If the syndicate members own the boat and one of them goes bankrupt, his/her creditors now own a share in your boat and imho will have legal right to force a sale and split the money so they can get their cash back (after first inviting you or others to buy the share for cash).

Sorry, not wishing to pontificate, just IMHO

 

[billskip]

Sounds like time share a boat..would you time share ??..as for speed limit strange when fox and stag huntin never seems to get resolved one way or other ..they are quick about the speed law..maybe not enough politicians got boats...just an observation..

 

[Guest]

WMV are fairly decent people, I trail my sportscruiser up to the lake for a couple of weekends a year and always stay in the Marina. My family have been using the lake for 30 years with everything from one of the very first wet bikes to 30ft sailing cruisers and IMHO and horror the speed limit will be brought in in 2005. I don't think the speed limit will affect your enjoyment but you must be certain you are looking for simply a floating holiday home, the cruising on Windermere is very limited. If you do get bored with the lake can you get out of the deal before the end of the 10 years?. Every one else is being very polite but how much are they looking for, whats the annual upkeep and what happens if for your weeks in a year the engine has had a breakdown and the boat cant be used?

 

[Guest]

Re: 40 weeks on windermere

It's gonna get a bit borin having four weeks in windermere. Some places can take 2 or three weeks to explorew, but after that - you done it so it's the gofing around in floating caravan bit - but this isn't your caravna so no point in fixing or cleaning it. Cept windermere can't take longer than a few days cannit? May as well rent a boat here and there. Very few people stay in the same boat for 10 years.