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.
Frequently asked questions
I have a timeshare that is outside of Spain, can you help me?
The primary claim is against the Finance Provider in the UK. If you paid for your timeshare using a finance agreement or a credit card with a UK Bank or Credit Provider, regardless of the country it is in, or where the sale took place, we may be able to take your claim through the UK Finance route and claim in the UK.
I have relinquished my timeshare with the resort. Can I still claim?
Yes. The relinquishment releases you from the service contract but not the finance/loan contract. Most resorts, when relinquishing a timeshare require a waiver to be signed. This waiver has no legal merit. The claim we will make on your behalf is against the finance company you borrowed the money from – such as Barclays Partner Finance or Shawbrook - or the credit card provider if you paid any part of the purchase using a credit card.
I have no documents, can I still claim?
Yes you can. In most cases we can obtain copies of the documents from your credit provider, and proof of the payments you made from your bank.
Will I have to pay any upfront fees for my claim?
In most cases we work on a no-win no-fee for timeshare claims. We work exclusively with a specialist solicitor to claim against UK finance providers. If they refuse to pay the claim is submitted to court. In normal circumstances this would require advanced payment to take the claim forward. Our solicitor has a funding deal in place that pays for these costs upfront. When the claim is successful this money is recovered from the amount awarded by the court.
What happens if the case is unsuccessful in court?
As part of the same funding arrangement, an insurance policy is taken out to protect you against any adverse costs. This means that if your case does not win, you will not be charged any fees or pay any costs.
My resort are offering to take my timeshare back, should I do that or claim through you?
In most cases, the resort with ask you to sign a waiver that stops you claiming against them in the future. If this waiver includes not being able to claim against the finance company, relinquishing your contract may be a barrier to making a claim now or in the future.
Will my family inherit the timeshare debt?
That will depend on your contract. Many contracts, although they were issued contrary to European Supreme Court directives, were for 50 years or ‘in perpetuity’. Technically the timeshare liability should be settled on death or passed on as part of an estate. However, we have seen little evidence of this happening.
If I win my case against the finance provider, will I exit my timeshare contract and maintenance contracts in Spain?
As part of your legal case, your solicitor will ask the judge to declare all contracts null and void. If he or she does this, you will have no further obligations. If he/she does not include this in the judgement, we can then carry out a relinquishment on your behalf.
My finance agreement has finished, and I have fully paid off the cost of my timeshare. Can I still claim?
Yes, you can. The claim will be for the full amount you have paid including all interest.