The timeshare industry doesn’t have a good reputation when it comes to sales techniques. Dodgy tactics range from outrageously long presentation meetings designed to wear listeners down, through false promises regarding costs and potential income, to pressurised selling techniques in order to close deals.
The industry has also sunk pretty low when it comes to selling ways to finance your timeshare, for those who haven’t got the cash to hand to purchase their timeshare outright. Indeed, the tactic of using timeshare sales staff to get purchasers to sign up to loan agreements that they would undoubtedly have been refused in a bank (where appropriate credit checks would have been undertaken) has led to Barclays Bank consumer credit arm Clydesdale Financial Services being taken to court.
The case against Barclays has been brought by 106 claimants in relation to their purchase of timeshares through Resort Properties Limited (now Silverpoint) or Ebony Marketing Limited trading as Resort Properties. Many claimants report that timeshare sales staff completed the application forms for the loans to finance their timeshares, with pressurized sales techniques leading many to sign before they truly realized what they were committing to.
Timeshare Compensation has spoken with many individuals who have experienced these kind of situations over the years. The company is working to help individuals understand their rights when it comes to timeshare compensation.
“If you were told that your timeshare was an investment or a fractional ownership property in order to entice you to finance your timeshare, or pressured into handing over money during the cooling off period, you may well be entitled to compensation.”
Spokesperson, Timeshare Compensation
Thanks to the intervention of the Spanish Supreme Court, timeshare owners who were encouraged to finance their timeshares by dubious sales tactics have more hope than ever before that they might be able to escape from their burdensome contracts.
“Increasing numbers of timeshare owners are realising that there is a way out. Many contracts can now be declared void – for example, if they were for floating weeks products or in perpetuity contracts. The legal sector is very much on the side of owners who have been mis-sold to.”
Belinda Rollins, Timeshare.lawyer
For more information, email Info@TimeshareCompensation.co.uk or call 0800 046 5855 to find out whether the way you were pressured to finance your timeshare means you could be entitled to compensation.