posted 1st November 2023
Has the loan that you took out to buy your Fractional Points timeshare at Club La Costa mysteriously been changed to Tandem Bank? If so, you are one of many thousands who are now entitled to a compensation payout.
Many of our clients who originally took out finance with Honeycomb Finance have since noticed that their loan was changed to Oplo Finance and then Tandem Finance.
Why was my loan transferred to another bank?
Lenders typically sell loans for two reasons. The first is to free up capital that can be used to make loans to other borrowers. The other is to generate cash by selling the loan to another bank while retaining the right to service the loan.
Or is there a more sinister reason?
On the 5th of May 2023, Mrs Justice Collins Rice concluded that Club La Costa Members were illegally mis-sold their timeshares as an investment. As such, victims who took out a loan with the below banks can now reclaim their money and have their outstanding finances written off.
This decision has led to the banks that funded the purchases having to refund and write off over 500 million pounds.
- Tandem Finance
- Oplo Finance
- Honeycomb Finance
- First Holiday Finance
- Shawbrook Bank
- Hitachi Finance
- Novuna Finance
- Barclays Partner Finance
If you have been affected by the mis-selling of Club La Costa and would like to make a 100% No Upfront Fee Claim, get in touch.
Our friendly team will assess your claim for free and win you the compensation you deserve.