posted 7th June 2023
We have exciting news for Club La Costa members that took out a loan with Shawbrook Bank. Shawbrook Bank was one of the leading providers of finance for the purchase of Club La Costa Fractional memberships at resorts on the Costa Del Sol and Tenerife.
These 'point-of-sale' loans were extremely quick to be approved and, in some cases, were provided with shallow credit checks that didn't take into account the full picture of individuals' financial ability to pay it long term.
High-pressure sales, often lasting in excess of 7 hours, were commonplace, with consumers, in their own words, "just signing up to get out of the room."
Years of complaints about Shawbrook Bank and Club La Costa have resulted in us submitting thousands of claims on behalf of our clients. These claims have been centred around the violation of regulations that prohibit the sale of timeshare contracts as investments, the failure to provide consumers with clear and accurate information, unfair contractual terms, and the presence of an unfair relationship under consumer credit laws.
Despite years of denial from the Timeshare Industry, Club La Costa and Shawbrook Bank, on the 5th of May 2023, Mrs Justice Collins Rice of the High Court dismissed the bank's claim for a judicial review of the Financial Ombudsman decision and paved the way for claimants to receive their money back.
This means that if you took out a loan with Shawbrook Bank to purchase your CLC World Fractional Membership, even if it is paid off, you now have the best possible chance of getting your money back.
In order to get your refund plus compensation, there are still criteria that you must meet to qualify for a claim. Also, it's important to remember that claiming through the Spanish Courts is a waste of time and will result in you paying out thousands in upfront fees and potentially running out of time.
To check if you qualify, get in touch with us. We charge £0 in upfront fees, and you only pay us if we win.
- You can watch our fractional decision explainer videos by clicking here.
