posted 3rd November 2023
“Giants are not what we think they are. The same qualities that appear to give them strength are often the sources of great weakness.”
As with all great David and Goliath stories, there is a point in time where the mighty have fallen. And this couldn't be more true of the Banks that funded the purchases of thousands of Club La Costa and Diamond Resorts mis-sold timeshares.
Was it greed or disregard for their victims that motivated them to provide funding for one of the most mis-sold products in timeshare history?
It is a widely accepted fact that timeshare is one of the most mis-sold products in the world. This unregulated industry is the perpetrator of huge financial loss and emotional turmoil for thousands of victims across the UK. But, despite this, some of the UK'S largest banks decided to become bed fellows?
Our company began representing Club La Costa and Diamond Fractional Owners eight years ago. The timeshare industry heavily disputed our fight for compensation and justice and started a propaganda campaign which had the sole intention of defaming the integrity of our company and claimants.
The Banks worked in conjunction with the timeshare industry and rejected any such notion that their clients had been mis-sold! The lacklustre approach by the Financial Ombudsman Service (FOS) also meant that their final decision took eight long years to come to fruition.
The final decision made by the Financial Ombudsman Service ruled in favour of our claimants; as such, the banks that funded the fractional memberships became responsible for paying compensation and writing off any outstanding loans.
However, because the banks involved had lent over 500 million pounds (and were worried about their share price!), they took the Ombudsman to court to challenge their decision. They lost! In doing so, it opened the floodgates to thousands of victims who purchased a fractional membership from Club La Costa and Diamond Resorts.
Our companies fight for justice against the banks hasn't been easy. However, despite this, our claimants and future claimants are now able to get the compensation they deserve. If you have a loan or had a loan and have paid it off with any of the below banks, we can help.
- Shawbrook Bank
- Hitachi Personal Finance
- Barclays Partner Finance
- Novuna Finance
- Oplo
- Tandem Finance
- First Holiday Finance (FNTC)
