Home exchange scheme could help you conquer the crunch

As the credit crunch bites, booking a fantastic holiday in a fabulous location may be the first luxury to fizzle out. But, for anyone with a second home, a ski chalet in Chamonix or a condo in the Caribbean could still be on the cards this Christmas.

International Vacation Home Exchange (ivhe.com ), a global network of second homes in stunning locations, is inviting owners to trade time in their holiday properties for credits, which can then be cashed in to stay in properties owned by fellow members in over 50 different countries.

IVHE will be presenting fantastic properties already in the network - from luxury staffed villas and boutique hotels to ski lodges and yachts - at stand P31 at the Luxury Travel Fair at London Olympia from November 6-9.

Home exchanges are hardly a new concept. However, unlike traditional holiday swaps, IVHE members don't have to trade their properties at the same time, saving them the logistical juggling needed to find a date match. As IVHE only caters to second home owners, the properties on offer are more likely to be found at to-die-for holiday locations than dreary suburban spots.

High-end homes - from luxury beach pads and country cottages to chic city centre apartments - are available at a fraction of the cost charged by tour operators. Many come complete with cars, boats and staff, meaning members also enjoy an A-list lifestyle not available out of a holiday brochure.

Each property is assigned a credit value based on its potential weekly rental income. Home owners earn credits each time another member stays at their house, which they can then spend to stay at other properties around the globe.

Home owners pay a one-off set up cost of $125 US and an annual fee. For a limited period, new users only pay three months for the first year of a Bronze membership. Members can manage their account, update and promote their property and search for new holiday locations, all from the comfort of their own home.

Suzie Magnus, IVHE's MD, says: "Our non-simultaneous exchange scheme takes all the stress out of home exchange, and you don't have to splash out on an expensive hotel and hire car to enjoy a sumptuous stay at a desirable destination. With holiday properties only averaging an occupancy rate of eight weeks a year, members also maximise the value of their assets - an added bonus as the credit crunch starts to hit second home owners."