Timeshare ownership, or as it is more commonly called: – Holiday clubs or fractional ownership has been sold for decades. It is one of the most complained about financial investments and affected hundreds of thousands of people.
The sales strategy was very aggressive and involved luring tourists into high-pressure group seminars that lasted for several hours.
Part of the sales pitch was to inform potential clients that there was a strong and active second-hand market if they decided to ‘sell’ their timeshare contract in the future. Sadly, no such market exists.
Such was the scale of the problem, that UK Parliament, The Spanish Supreme Court and The European Supreme court have all published warnings and directives on the Mis-selling of Timeshares.
Unfortunately, these warnings went unheard and unpunished.
Complaints to resorts usually fell on deaf ears or more often resulted in the resorts attempting to sell further or modified timeshare products to dissatisfied customers.
Legal cases against the resorts were won but often proved fruitless as the companies that customers purchased from were no longer trading or had moved their assets to other offshore trusts or companies, which meant nothing could be recovered financially for the clients.
However, protection and a reliable route to recover the money spent does exist and is supported by very strong consumer law.
During the purchase, customers were asked to sign a legal purchase contract and a loan agreement to fund the purchase. The finance agreement that was provided by the sales company was and is a UK regulated contract.
Although the UK finance company that provided the loan agreements was not there at the time, they were, and still are responsible for how and to who it was supplied.
In almost all these sales seminars several rules were broken. The customers were not given the full facts around the investment (purchase) and were sold to in a manner that ignored the rules and guidelines laid down by UK, European and Spanish Courts.
Today, in the UK, you can claim against the finance provider to get back the money spent on the loan and cancellation of all future payments.
This is where we come in. We will take the strain out of making the claim, handling the entire process for you. Win or lose it will not cost you anything up front.
If you chose the no win no fee option, your claim will cost nothing until we win and is fully insured, therefore taking away any financial risk or worry. This claim type is not to be confused with a relinquishment that is offered by many other Companies.
See our Q and A section for further details.