posted 30th March 2024
No, there isn't an independent timeshare ombudsman. Unfortunately, the only ombudsman available to timeshare owners is the Financial Ombudsman Service (FOS). The only timeshare owners eligible to claim compensation are those who took out a point-of-sale loan or paid by credit card. Most timeshare owners will have had point-of-sale loan provided by Barclays Partner Finance, Shawbrook Bank, Hitachi Personal Finance (Novuna), First Holiday Finance, or Honeycomb. If you paid for the purchase of your timeshare in any other way, there is no financial mechanism to claim compensation.
The service and attitude provided by the ombudsman over the past ten years have been a disgrace. However, in 2021, they made a final decision on fractional ownership. This decision, which was ratified in the high court in 2023, means that fractional members that own timeshare with companies such as Club La Costa (CLC), Diamond Resorts, Silverpoint or La Pinta in Tenerife can claim back their money through the bank that financed the purchase. These fractional ownerships and 90% of other timeshare ownerships were illegally sold as an investment. As such, if presented correctly, members will receive a full refund, compensation, outstanding finance written off, and memberships cancelled.
The key to ensuring the success of your timeshare claim is to use an experienced and regulated company such as ourselves. Using a Financial Conduct Authority (FCA) regulated company with years of experience and millions of pounds of successful claims will give you the best possible chance of success. Please be advised that you do not need to pay upfront fees; any other company that tells you otherwise is just trying to steal your money. You can check if you are eligible to make a claim with us for free. If you have any questions or need advice, please contact us; we will be happy to help.
