MEP urges holiday makers to be cautious when purchasing timeshare

Yorkshire and Humber MEP Richard Corbett has warned holiday makers in … to think twice before they purchase a timeshare or holiday club membership whilst on holiday this summer.

Richard said, “Recently there has been an increase in the number of holiday club memberships being sold to holiday makers, but what people seem unaware of is that the legislation that currently covers timeshares do not apply to holiday club membership.

My advice is to be wary of anyone waiting outside their hotel or on the beach trying to pressure them into buying timeshares or holiday club memberships. Always think twice and don't hand over any money. Think about the deal being offered and try to do some research into the company offering the deals. Remember if it sounds too good to be true then it probably is!”

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• Advice for consumers before they commit:

  • Don't part with any money because Timeshare sellers cannot ask for or take deposits during the cooling off period.
  • Get everything in writing and make sure you read and understand it all.
  • Check whether the company is a member of a reputable trade association with a Code of Practice, such as the Organisation for Timeshare in Europe (OTE) or the Association of British Travel Agents (ABTA).
  • Don't be rushed into signing anything. If you're unhappy walk away.

   

  If you buy a Timeshare anywhere in the European Economic Area (EEA), you will have certain minimum rights to protect you:

  • A 10 day cooling off period in which to cancel the contract without penalty.
  • Timeshare sellers cannot ask for or take a deposit during the cooling off period.
  • The right to a brochure and written contract setting out basic information on the timeshare property in your own language.

   

  WARNING! What is not covered by the current Timeshare law:

  • Holiday or vacation clubs – where membership is not linked to any rights of occupancy in any particular property or properties.
  • Some timeshare re-sales.
  • Timeshare in floating vessels (eg narrow boats, pleasure boats and houseboats.)
  • Timeshare lasting for less than three years.

  Timeshares and the UK

  • The UK is amongst the most affected Member States both in terms of consumers owning timeshare, in UK and abroad and in terms of national timeshare industry.
  • The UK industry (in terms of timeshare agencies, timeshare developers, sellers and resellers, etc) is estimated to be worth a total €157 million per year.
  • The UK has more timeshare owners than any other European country. In 2001 31.6% of all of timeshare owners in Europe were residents of UK .
  • The number of UK timeshare owners is almost 500,000.
  • 50% of timeshare owners in Spain in 2003, resided in the UK .

more information

Press enquiries: Contact Luke Thorne, Press and Communications Officer to Richard Corbett MEP

• phone 0113 245 8987
• e-mail luke@richardcorbett.org.uk