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Timeshares

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What are Timeshares?

A timeshare is a membership of a holiday-owners’ club. Typically this will allow you a stay in a holiday property for a fixed period of time, provided you purchase the relevant Timeshare and pay the annual maintenance fees.

In essence you will have a right to use a premises for an agreed period. Timeshares can be purchased for apartments, resorts, lodges, villas and even boats.

Whilst sounding lucrative, Timeshares can have many pitfalls. It is expected that Timeshares will generally be of a very high standard and above what is normally available on booking sites. However this is not always the case.

It is also a problem for many clients to exit a timeshare once outside of the 14 day cooling off period. This can be particularly problematic if your circumstances have changed and you cannot make use of the timeshare every year. You may also have had a change in your financial circumstances and can no longer afford the timeshare.

Timeshares

 

What problems are associated with Timeshares?

Relinquishment/Exit:

Many timeshare owners find after the fourteen-day cancellation period, it is extremely difficult to exit the agreement. Some timeshare agreements are for anything up to sixty years, or in some cases in perpetuity. in other words – forever.

You may find the timeshare provider has inserted or introduced an exit scheme after you initially made the agreement without notifying you. Or you may find there simply is no exit scheme and you cannot exit.

Misrepresentation – Definition: An untrue statement’…

…made by one party to the other in the course of negotiating a contract, which induces the other party to enter into the contract. The consumer relies on the statement so that it becomes an inducement to enter into the contract. If the agent is found liable for misrepresentation, subject to certain limitations, the contract can be set aside, the consumer may also sue for damages.[i]

In summary, you relied on facts and information at the time when you purchased the timeshare, which you have now found to be false. For example, you may have been told your timeshare accommodation would sleep 6 but when you have booked it only sleeps three people.

Or you may have been told the offer is available today and they have reduced the purchase price by a large sum if you buy there and then. You later discover you can get the exact same benefits at a fraction of the price without purchasing a timeshare.

Another example maybe you were told at the time they are approved by the Office of Fair Trading or are ABTA or ATOL protected and relied on this when purchasing your timeshare. Firstly no timeshare provider is approved by the Office of Fair Trading and very few are ABTA or ATOL members.

What should I do if I need some advice?

Contact Oakwood Solicitors for a free initial consultation and receive the advice you need to get you started. We are helping a number of clients to recover fees paid and to exit their timeshare agreements.

Coins

 

How much will it cost you to make a claim?

  • Due to the nature of the cases, it is unlikely the case will be processed on a Conditional Fee Agreement (CFA) more commonly known as ‘no-win, no-fee.’
  • We offer a free initial consultation.
  • We would then agree on a fixed-fee for our services, based on your individual circumstances and requirements.

How much compensation will I receive?

We cannot provide an exact figure until we have completed our investigation. In some instances, all clients want is to exit the scheme. In some situations, we would look to recover the initial payment for the timeshare agreement and have been successful in doing so.

Oakwood Solicitors Ltd

 

Why choose Oakwood Solicitors?

You will have a dedicated advisor who will see your claim through from start to finish, assisting you in the event of any queries or issues you may have. Your case-handler will also continue to provide regular updates until the conclusion of your claim, ensuring the process is as stress-free and effortless as possible.

Testimonial

Testimonial

 

WHAT TO DO NEXT

If you believe or feel you have a claim, contact us from this page for a free initial consultation regarding your options, by email at enquiries@oakwoodsolicitors.co.uk, or alternatively – call us on 0113 200 9787.

 

[i] https://www.oxfordreference.com/view/10.1093/oi/authority.20110803100201936

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