Timeshare
Advice
Timeshare Questions & Answers
Q Am I protected by the Amended Act if I sign the contract in the UK, even if the timeshare itself is abroad?
A Yes
Q What if I sign abroad?
A It is unlikely that you will be protected unless your contract states that it is governed under UK law. However, if the timeshare is located in the European Economic area, you will have the basic protection of the Timeshare Directive (see Section 2) i.e. a minimum 10 day cooling off period, a right to the contract containing certain basic information in your own language, and a ban on taking deposits in the cooling off period. However if things go wrong, you may have to go to a foreign court which is likely to be expensive.
Q Can I change my mind after signing?
A Yes. You have the right to cancel the contract within 14 days under UK law and within a minimum of 10 days elsewhere in the European Union.
Q If I buy abroad and want to cancel, should I wait until I get home?
A No. You only have a limited period in which to cancel. If you do not want the timeshare, it is best to cancel as soon as you can.
Q How do I cancel if I change my mind?
A You should write to the seller at the address given on your contract and state that you are cancelling the contract. You may be given a form for this purpose. Do this as soon as possible, and keep a copy. It is also a good idea to use recorded delivery in case there is a dispute. But it is better to make sure that you want the timeshare before signing anything than to sign and then cancel.
Q If I am given a cancellation form, do I have to use it if I want to cancel?
A No. As long as you can cancel in writing, within the time period allowed, there is no need to use the form. But you may find it simpler to use the form.
Q Will I have to pay anything if I cancel?
A This depends on which country's law applied to your contract. If it is under UK law, there will be nothing to pay. In some European countries you may have to pay for having the signatures to the contract witnessed by a lawyer. If you have to pay any costs, this must be spelled out in your contract (so check the small print before you sign).
Q What if I am asked for a deposit?
A Don't pay it! The taking of deposits during the cooling off period is illegal under the Directive. A reputable company will not ask for a deposit. Don't give your credit card number or sign credit card vouchers. Once you sign a voucher you have authorised the credit card company to pay the timeshare seller. Some touts have persuaded their victims to sign several vouchers at once, saying that the vouchers will not be presented for some time. Then they are promptly sent for payment and the victim is suddenly way over the credit limit. If you do sign a voucher and decide to cancel during the cooling off period, tell the credit card company as well as the timeshare company, and tell them both in writing.
Q If I bought the timeshare with credit, and I cancel, will I still have to pay the credit agreement?
A That depends on the form of credit used. The credit agreement should automatically be cancelled if the timeshare seller provided the credit or if the lender has a pre-arranged credit facility with the timeshare seller. But if you obtained a bank loan, for example, without the involvement of the timeshare seller, then the credit agreement will not be automatically cancelled, and you should make separate arrangements with the lender.
Q What if the contract is not written in English?
A You have a right to a contract in English, as long as the timeshare property is in a European Economic Area country. All the same, legal documents are complicated and can be difficult to follow. If you are not sure about anything, don't sign until you get advice from someone independent that you trust.
Q I have been given contracts in English and Spanish, why is this?
A If you buy a timeshare abroad, as long as it is in a country of the European Union, you have the right to a contract in your own language. You also have a right to a contract in the language of the country where the timeshare property is located. This will be useful to you if things go wrong and you need to go to a foreign court with a foreign lawyer.
Q What if I am offered a discount to sign right away?
A Ignore it. The same discount is likely to be offered to other people tomorrow and the day after. Any offer that does not give you a chance to think about it should be treated with suspicion.
Q What if I am offered a money-back guarantee?
A Be very careful. Such guarantees often have quite restrictive conditions in the small print. The fact is that second-hand timeshare property is not worth anything like as much as new timeshares.
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