As you are probably aware, many companies offer you a finance package when purchasing a product or service. Without this opportunity to finance the purchase and pay monthly, it would make many purchases unaffordable.

It's essential to realise that lenders do not act as a public service like the NHS but as capitalists. Some lenders have strict criteria for lending money and others less so. In general, the loans that are easier to obtain have the highest interest rates.

Timeshare owners that purchased with Club la Costa, Silverpoint, Diamond Resorts or Azure Resorts will be well aware of the lending options available to them. Barclays Partner Finance and Shawbrook Bank have lent millions to these Timeshare clients ignoring the scams behind the lending.

Thousands of Timeshare owners at Golden Sands in Malta have found out the hard way what it means to be missold finance.

Sold on the basis that rental income from their Timeshare would cover the cost of their finance payments. Then promised the Timeshare would be sold to pay off the loan. This scam started at Resort Properties in Tenerife, otherwise known as Silverpoint. The scam puts owners in a position where they feel that they have to chase their money, upgrading to different deals all financed by Barclays Partner Finance. Leaving many owners owing hundreds of thousands of pounds with no way of paying off the loans.

So why have these Timeshare companies continued to have the backing of finance providers such as Barclays?

Golden Sands in Malta have been selling in the region of £500,000 of Timeshare 'investments' every week for years. All of which is financed by Barclays Partner Finance. The interest rates associated with those loans being 19.9 %! The upfront fee that Barclays charge for providing this facility to Golden Sands is 10 %. This fee is built into the amount the client borrows.

For example, client Borrows £20,000; the Barclays fee is £2000 (10%).
Unknowingly to the client, this fee is built into the £20,000. The client is borrowing the 10% that Golden Sands are paying back to Barclays as there fee!

This fee is also known as a 'HIDDEN COMMISSION'. So there are £50,000 reasons per week that Barclays Partner Finance has continued to support such a dubious business.

It's not just Timeshare where Barclays Partner Finance has involved itself in financial miss-selling.

https://www.telegraph.co.uk/news/2018/10/05/barclays-credit-scandal-shoppers-mis-soldfinance-sofas-windows/