UK ECC Warns Timeshare Owners on New Scammers’ Strategy

Timeshare consumers are being warned by authorities to be vigilant in spotting timeshare resale companies’ modus operandi.

There is another problem that emerged in the timeshare market and that is the hard-selling tactics of ‘fractional ownership’ in resorts.

The scammers have switched their tactics and it’s not anymore the phone call activity but rather it is already incorporated in the contract. It entices the consumers by saying that investing into holiday properties lets you own a part of the unit’s value which is sincerely not true.

Here’s the real deal, when you purchase a timeshare, you are not actually buying the property. You only have the title to use the property. But owning it in the future will not happen. And after the contract expires, so is you privilege to experience the timeshare vacation plan.

UK’s European Consumer Centre (UK ECC) warns the UK’s timeshare owners of these ongoing complicated deceitful acts.

According to ECC, the scammers request you to purchase more weeks, and finishes the paperwork. But the problem is that it is not incorporated on the contract papers. As a result, timeshare owners are trapped by the more ‘timeshare ownership’ weeks.

UK ECC has told the Britons to enumerate the details of the problem so ECC would know when and where to help and to determine the intensity of the problem.

As we all know, a long time ago, fractional ownerships are considered as the cheapest and hassle-free option to purchase a vacation house. For over a few decades now, the industry has expanded throughout the world. The vacation plan likewise evolved as they are, for example, offering ski chalets, etc.

Consumers must take note that there is a 14-day cooling period incorporated in timeshare contracts. That means, the consumer would have the specified number of days in which he can change his mind in purchasing the unit. UK ECC has been monitoring this portion of the fractional ownership. This also serves as a warning to all UK consumers to report on possible troubles and the organization promises to extend a helping hand to the victims.

Just recently, a couple found out for themselves that they have bought such a false fractional ownership.