03 MAR 2021

The Short Guide to Some Mis-Sold Timeshare Contracts in the UK

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Many people in this world are incredible salesmen, as they have the natural silver-tongue that sucks people into their products and services. Some buyers are also easily swayed by the sales talk they hear, making them susceptible to buying things they don’t understand. In a consumerist society, the area of mis-sold products is often an area that many don’t know how to navigate. 

Mis-sold goods aren’t a fun experience, as these can often suck up more of your money than you know. Some things are falsely advertised by a sales team, such as the infamously mis-sold timeshare products that plague the market. Many people will be given an invitation to listen to the presentation on the “investment” they’ll be making. However, timeshares are no more than mis-sold products that have secret strings attached to the fine print. Here’s what you need to know before you throw money at timeshare companies:

 

Worldwide Crackdowns on Timeshares

It’s not just the United Kingdom cracking down on the timeshare scams. Spain is also taking their respective measures to ensure that people are given justice from mis-sold goods. The Spanish Supreme Court has made it clear that future cases of timeshare issues will make it easier for people with claims to come forward and request just compensation. Additionally, the days of timeshares slipping through the cracks are gone, as everyone is tightening up on the false claims that are tricking people. 

 

About Timeshare Perpetuity Contracts

If you’re talking about the word “perpetuity,” it comes from the root word “perpetual,” which means never-ending or unending. Overall, you’ll be given a contract with the timeshare company with a certain limit of being locked into the deal. The maximum legal limit is 50 years and nothing more. This limit often poses problems as timeshare companies often try to claim money for fees after the contract holder passes, which drops the burden onto their children or other relatives. The fees usually take from the assets and other beneficiaries, which can cause plenty of damages. 

You’ll want to check your contract for a specific end date, and if that date exceeds 50 years from when it was signed, then you’re given the right to compensation. If the contract doesn’t exceed the maximum limit but exceeds the holder’s lifetime, the responsibility fees may fall on the children. However, there are workarounds for this case under the mis-sold timeshares parameters, so contact your local professional to assist you with these issues. 

 

Floating Weeks

In a timeshare contract, there might be “floating week” parameters that are deemed illegal. Floating week contracts allow holders to choose a range of weeks to go on a vacation each year, which will require an online booking for the week they want to enter. However, some timeshare companies tend to reserve peak seasons for vacation times of staff and even other non-timeshare contract owners. A country that takes holidays seriously can be very problematic for those who want to travel during their set dates annually. 

The issue with floating weeks is that they provide timeshare holders with a messy and unpredictable vacation planning process, as the weeks they have free are often fully-booked. This contract parameter usually has people filing cases against their timeshare companies because of the inability to take precious breaks from work. 

 

Conclusion

Being mis-sold timeshares can be a negative experience for you and your family, mostly if anything happens while you’re still under a contract. It can lead to excessive spending on fees because some companies are high-end scams, which is why you’ll want to ensure that you get proper compensation and justice.

Consumer Reclaim is a company that specialises in dealing with mis-sold goods and products in the United Kingdom. If you’ve been mis-sold timeshares or other contracts, it pays to have a professional take a look at your case. Contact us today to learn more about just compensation and dealing with contracts. 

 

Consumer Reclaim Ltd is regulated by the Financial Conduct Authority in respect of regulated claims management activities, reference number: 835212. Registration is recorded at: https://register.fca.org.uk. Consumer Reclaim Ltd is registered in England and Wales, Company Registration number: 07223077. Information Commissioner Office number: ZA176000. VAT number: 144 4752 12