Club la Costa Fractional Ownership
Did you upgrade into Fractional ownership to reduce your ownership length? Or did you join because you were sold the membership as an investment?
Club La Costa is the most active Timeshare sales company in Europe. The main reasons for this are due to their continued support from Barclays Partner Finance and Shawbrook Bank. Without these finance providers, Club La Costa would not be able to sell their products.
Why is it that with Timeshare having such a bad name that these finance providers are still happy to risk their reputations and support them?
Every financed deal includes a minimum of 10% hidden commission. For example, if you purchased a £20,000 Fractional ownership, then £2000 of the money you borrowed would be paid from Club La Costa to Shawbrook as a fee. This fee is also known as a hidden commission. Club La Costa do not disclose this information at the point of sale. Conventional unsecured loans from high street banks have transparent fees and interest rates.
99% of finance lenders do not lend for Timeshare type products as it is known as a high-risk industry, blacklisted by lenders along with the adult industry and gaming. These unsecured loan facilities are available to almost everyone regardless of credit rating or a supportive income.
One of our clients recently remarked, "My local bank wouldn't lend me £5, and these lot arranged me an £18,000 loan in 10 minutes ."
Another said "We have only been living in the UK for three months and I have just got a job. We borrowed £14,000 and can't afford to pay it back."
The reality of the Fractional Ownership scheme is that you own 1%-2% of an old Timeshare apartment. The deal is entirely speculative, and only sounds as good as the salesperson makes it. Unfortunately, the salesperson's performance and lies are usually enough for people to sign up. Timeshare companies and salespeople are not regulated to sell investments. Only invest money with FCA regulated companies.
If like thousands of others you have been caught in the Fractional ownership trap then give us a call. You may qualify for a refund and exit from your contract.