posted 22nd May 2023
The Problem
More than 500,000 people in the UK still own some form of timeshare. About 250,000 of them (based on a pre-pandemic estimate) would like to exit their timeshare within the next 12 months. Some, like many of the clients we help, can't travel anymore. Others can't afford the maintenance fees that continue to rise and go on for the length of the ownership, whether you use it or not. Still, others are angry at the lack of availability and are annoyed that they were led to believe that their timeshare could be resold. If you've ever wondered why you get so many cold calls, click here.
- Key Point-Avoid using timeshare exit companies that require an upfront fee.
Video Guide to Timeshare Exit
The Proven Way to Exit Your Timeshare Safely
The first move, experts agree, is to contact your resort or management company itself. Some resorts may offer to take back your timeshare free of charge. Read our 'Exit your Timeshare for Free' Guide by clicking here.
It is always best to check with a legal professional that you aren't signing away your rights to Timeshare compensation prior to signing anything from the resort.
To qualify, you generally have to be up to date on your maintenance fees, prove your financial inability to pay your fees or be suffering from a medical condition that prevents you from being able to use your timeshare. Be on your guard, as many timeshare companies will see your plea for help as an opportunity to try and upgrade you to a product that shortens the length of your ownership but ultimately costs you thousands and doesn't resolve your immediate problem.
1. Contact your Resort
Check with your resort to see if you qualify to return your timeshare for free. Due to the number of resort closures and companies changing hands, this may require some persistence and patience. It is always advisable to check with us before you sign any relinquishment documents, as you might be signing away your rights to compensation.
2. Pay an Exit Fee to your Resort
If you don't qualify for a free Timeshare Exit at your resort, they may offer you a 'non-qualified' exit option that involves you paying them a 'buy-out' fee. This can vary widely but can range from 1-5 years' fees upfront. Be aware that this could be another way that your timeshare company is trying to take advantage of you. Some exit fees are excessive, and it is always advisable to check with us to see if you are being treated unfairly.
3. Do Nothing
If you have not paid your maintenance fees for 6 years or more, then the best course of action is to do nothing. Even if the timeshare company has changed hands, there is very little that they can do. If you are concerned and would like advice, get in touch.
4. Legally Exit your Timeshare
If none of the previous options has been a success, get in touch with us. Over the last 10 years, we have helped 1000's of timeshare owners legally exit their timeshare contracts. Our No Upfront Fee Policy means that you can confidentially exit your Timeshare contract without the payment of any upfront fees. Reviews.
Video guide to Timeshare Exit Scams