By Anna Ellis •
Updated: 05 Oct 2022 • 18:35
Problems with timeshare property on the Costa del Sol. Image: Victor RunovShutterstock.com
However, there are also many unscrupulous companies, some of which claim to provide various incentives (including stock market investments and discounts on airfares and accommodation) when exchanging existing time-share ownership or taking out a membership in holiday clubs.
Whilst timeshares are a legitimate sector of the travel industry, fraudsters seek to exploit the public in a number of ways:-
Sometimes fraudsters try to take advantage of timeshare owners who want to sell their timeshare. They pretend to be a company that claims to have a buyer lined up who is ready to pay a good price to buy the timeshare. In return for finding the buyer, they ask for an upfront ‘introducers’ fee or other types of payment.
Fraudsters have been known to impersonate well-known and reputable legal firms claiming to offer services to timeshare owners or prospective buyers. They often clone overseas firms so that due diligence on part of the victim is more complicated.
It has also been reported that some fraudsters approach victims offering points, credits or vouchers, timeshare holiday bonuses and upgrades. They explain that the owner has been ‘awarded’ a bonus holiday which they can claim by paying an upfront administration fee.
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Originally from Derbyshire, Anna has lived in the middle of nowhere on the Costa Blanca for 19 years. She is passionate about her animal family including four dogs and four horses, musicals and cooking.
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