Timeshare in the spotlight

Timeshare in the spotlight

News

The world of timeshare was in the spotlight again last month featuring on not one, but two separate TV programmes on the BBC.

More than 600,000 people in the UK own a timeshare and many ageingowners are now struggling to get out of their timeshare contracts. With so many people in the same boat it’s led to a whole host of companies springing up saying that they can help.

Both programmes investigated companies who promise to sell your timeshare – for a fee. Something we have advised people to approach with caution in an earlier blog post (read it here)

BBC One – Rip Off Britain

Gloria Hunniford, a presenter on Rip Off Britain – a BBC One series which exposes Britain’s rip-offs said on the show:

“We’ve featured companies offering to help unhappy timeshare owners before and in our experience it’s not always as simple as might be made out.”

The woman featured on the programme received a phone call out of the blue (a cold call) from a company claiming they could help her get out of her timeshare with Club la Costa.
The big no-no with what she had been told is that the law says no company should ever take money for selling a timeshare before they’ve actually sold it.

Sylvia Rook a Lead Officer at Trading Standards Institute said:

“At trading standards we’d always want you to be very careful if you’re approached by someone who say they can sell your timeshare. If you’re not careful you may find yourself up putting good money after bad don’t get sucked in to using a company that’s going to take money from you. Do your own research. Speak to a lawyer, speak to trading standards before you part with any money to make sure you know exactly what you’re doing and you’ve got the best possible advice.”

BBC Scotland Investigates – The Timeshare Timebomb
The second programme, which aired in Scotland, saw financial journalist Fergus Muirhead also looking into a company promising to sell your timeshare, again for a fee.

What’s become apparent nowadays is it’s very difficult for people to get rid of timeshare that they don’t think they want to use any longer.
A lot of historic timeshare contracts are weighted quite heavily in the timeshare company’s favour with no get out for the consumer.

Fergus Muirhead said:

“Nobody ever signed up for a timeshare thinking it would become a source of anxiety and debt. All of this is solvable but it takes time effort and money if you seek advice and are prepared to be realistic.”

People spend years trying to sell their timeshare. The problem is for every 1 person that wants to buy a timeshare there are around 400 people who want to sell.

Sarah Waddington Solicitors specialise in timeshare disputes and can legally take you out of your timeshare contract if you were mis-sold.
Our initial assessment is offered free of charge with no obligation to instruct us.
Get in touch today

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