Timeshares are notorious for their ‘in-perpetuity’ contracts and yearly increasing maintenance payments. They can become a real burden, especially if you feel there’s no easy way out of one and the benefit you get from it doesn’t justify the costs. To make things worse, you may have been cold-called by companies claiming to be able to get you refunds on payments, or offering a way out of the timeshare. As a result, you’re wondering if you should ever have bought one.
Most timeshare agreements are indefinite contracts, meaning that you’re obligated to pay the maintenance fees for as long as you own the timeshare. That’s a big financial commitment. Some owners would ideally like to sell their timeshare, but there may be little demand. However, there are laws that aim to protect consumers from illegal or unreasonable timeshare contracts and scams. Contracts that place heavy restrictions on the consumer can be challenged.
If you signed a timeshare contract after 2011, and it was drawn up in the UK, our legal experts can advise you on an array of problems. These include possible exit options and whether the terms around yearly maintenance fees are binding. We can also help you discover whether the company you have an agreement with is genuine. And we can advise you what to do if you’ve been cold-called. We’ll: