posted 13th March 2024
Pressure is mounting on Shawbrook Bank. In a recent Treasury Select Committee hearing (see video), Dame Angela Eagle MP held Abby Thomas of the Financial Ombudsman Service to account and highlighted Shawbrook Banks involvement in the Timeshare Fractional Scam, which is by far the largest timeshare scam in history. Despite a final decision made by the Financial Ombudsman Service (FOS) and the banks losing a judicial review hearing in the High Court, Shawbrook Bank are the only one of three Banks who continue with their irresponsible policy to reject claims and refuse to pay compensation to elderly and vulnerable victims.
Shawbrook Bank now owes timeshare owners millions of pounds in compensation after providing loans for mis-sold Club La Costa and Diamond Resorts Fractional memberships. Although it is widely accepted that Shawbrook Bank provided loans for "dodgy timeshare products," by their conduct, they appear determined to deny justice and delay compensation payments to elderly and vulnerable victims across the UK. The timeshare scandal has reached the government level, with past and present Ministers of Parliament becoming frustrated at the time it's taking for the Ombudsman and Shawbrook Bank to settle claims.
If you haven't already submitted a claim with us, it's essential to understand that if you haven't submitted a claim within the allotted timeframe, consumer credit laws dictate that your claim will become statute-barred six years from when your finance was paid off. If you are still paying your finance and want to get your remaining balance written off and have your money refunded with compensation, get in touch. There are absolutely no upfront fees to pay us, as we work on a success fee basis only. To check if you are eligible to make a claim, get in touch.
