Timeshare 'booming' as families seek a sea view
after crooks forced out of the market

As seen in The Daily Mail

The word timeshare will send a shudder up the spine of many holidaymakers. For years it has been associated with pushy touts, fraud and mis-selling.

However, the timeshare industry claims that business is now booming after EU regulations forced out the crooks.

One of the reasons for what it calls the biggest timeshare boom in 20 years is the soaring cost of seaside homes in the UK.

Detached houses with sea views in Cornwall and Devon regularly fetch up to £1.5million, while those on Dorset's "millionaire coast" are the fourth most expensive in the world.

The recent timeshare boom means families can buy stakes in luxury properties in places like Florida for as little as £2,500

However, families can buy a stake in a luxury property in Florida, the Caribbean or Australia for as little as £2,500.

One company claims that the number of Britons interested in timeshare for their holidays has risen by 25 per cent in the last 12 months – the biggest annual increase since the timeshare heyday in the late 80s.

The figures were released by Worldwide Timeshare Hypermarket, one of the UK’s largest marketplaces for such properties.

Boss Philip Watson said: ‘Timeshare is becoming a very attractive option for families who can no longer afford to purchase holiday or second homes.’

'We have experienced a 25 per cent surge in interest in the last year, primarily from families looking for luxury accommodation with sea views but without the millions of pounds needed to obtain them in the UK.'

Until recently, timeshares were synonymous with touts and were tarnished by cases of fraud and mis-selling.

Swindler John ‘Goldfinger’ Palmer was ordered to pay a record £35 million plus in confiscation, compensation and costs payments when he appeared at the Old Bailey recently.

But EU regulations designed to protect consumers - and the introduction of the Resort Development Organisation (RDO), the governing body for timeshare in Europe and TATOC, the recognised timeshare consumer association - have cleaned up the industry.

Working with TATOC to resolve a problem

As seen in Tony Hetherington column in the
Mail On Sunday

C. R. writes: My wife and I are both retired and our funds are quickly dwindling. The maintenance charge on our timeshare apartment in Gwynedd is now out of our reach.

I spoke to someone at the company who virtually told me to 'pay up or the bailiffs will be called in'. I have even tried to look for a job, but at 71 no one wants to know.

 But Tatoc's solution is better. It has talked to a resale company called Worldwide Timeshare Hypermarket and agreed a deal that I'm happy to put to you.

It will still cost you £474 to get rid of this burden, but at least you can then draw a line under the whole matter and know that there will be no demands in 2010.