2008
If you sign a timeshare contract which you later regret, you may have the right to cancel, but you need to act fast advises Consumer Direct North East.
The government advice service has received more than 1800 timeshare related complaints in the first six months of this year, a 45 per cent rise from the same period last year. Many were from people who regretted signing up to timeshares during high pressure sales presentations both in the UK and abroad.
Under the Timeshare Act 1992, if you sign a timeshare agreement in the UK lasting three or more years, you have a 14 day 'cooling off' period to cancel the contract and any related credit agreement. If you sign elsewhere in Europe you have a minimum of 10 days to change your mind. Cancellation must be made in writing and preferably sent by recorded delivery.
For some people timeshares can offer great convenience and guaranteed access to attractive properties in desirable locations. For others, they can be an expensive financial burden.
David Sayer, Head of Governance for Consumer Direct North East and Trading Standards Manager for Redcar and Cleveland Borough Council said:
'If you are considering buying a timeshare, take your time to do some research, and if you attend a sales presentation, don’t be pressured into agreeing to a deal on the spot. Take the details away, read all the terms and conditions very carefully and consider all costs including transport, insurance, annual maintenance charges and the cost of finance.
‘Some companies try to draw you in to sales presentations by suggesting that you’ve won a free holiday. Many give the impression that they are not selling timeshares, but don’t be fooled. If the contract meets the requirements you should have the right to cancel.’
Advice on resolving timeshare and other holiday-related complaints is available by calling Consumer Direct North East on 08454 04 05 06 or visiting the website at www.consumerdirect.gov.uk.
