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Shawbrook Bank Announce Irregularities in Timeshare Loans, Similar Activities in the USA.

For many people their Timeshare or Holiday Ownership was paid for on Finance, these loans were usually arranged on the day of signing the contract by the sales staff. One of these lenders is a bank called Shawbrook Bank, with their head office located in Brentwood Essex. The bank was founded in 2011 and according to their web site works closely with the holiday ownership industry to provide finance for their customers.

 

Unfortunately it was announced recently that the bank had set aside around £9 million to cover any defaults in these loans. This has come about due to the discovery of irregularities in the issuing of these loans.

shawbrook

Shawbrook Bank has admitted that it did not do its due diligence when approving the finance for holiday ownership products. One of its biggest partners is Diamond Resorts, whose aggressive style of selling has resulted in many people being over stretched financially, then being lumbered with a product that they find is unworkable. They are also stuck with management fees that are continually rising, also being unable to get out of their contracts.

 

http://www.telegraph.co.uk/business/2016/06/28/shawbrook-banks-shares-plunge-on-9m-hit-from-dodgy-lending/

http://www.thisismoney.co.uk/money/markets/article-3663651/Shares-Shawbrook-drop-challenger-bank-reveals-loan-irregularities-cost-9m-finance-chief-quits.html

 

What did Shawbrook miss on its due diligence?

 

Quite simple, finance agreements made out by sales staff on the day of the sale have not had the usual credit checks made. Normally when a loan is applied for there are several checks that are made, we all know this as at some point we have had them. Firstly, does the applicant earn enough to qualify for the loan. Secondly, can the applicant actually afford the repayments, after other payments are taken into consideration, i.e. mortgage, living expenses etc. Lastly does the applicant have a good credit history, in other words have they defaulted on any other finance, be it loans or credit cards, or have they had county court judgements made against them

 

All these are the usual checks, being unable to fulfil any of these criteria would normally prevent the loan from going through.

 

Another aspect is how the applications are filled out, Many people spoken to over the years have said that the application had been filled out by the staff. It later transpired that the purpose of the loan had been made out as “home improvements” nothing to do with the purchase of holiday ownership. In some cases, even the income has been falsified. Unfortunately, for the applicant this could lead them to the possibility of criminal charges, after all they have signed the form.

edwincoe

This is not the first time a bank has hit the news in relation to holiday ownership, Barclays Partner Finance has been the subject to action in the High Court on this matter. Edwin Coe LLP, represented many clients of Resort Properties, who had been sold “investment packs” which were then financed by Barclays Partner Finance. On 16 August 2015, Edwin Coe LLP announced that the High Court had decided in favour of the consumer.

http://www.edwincoe.com/our-expertise/group-action-litigation/resort-properties-barclays-partner-finance/

http://www.edwincoe.com/high-court-decides-in-favour-of-the-consumer/

 

Many of these loans did not have the usual credit checks made, in fact Inside Timeshare is aware of an elderly couple who had been given one of these loans. They had been talked into one of the Resort Properties / Silverpointinvestment packs”, at the time he was 8o years old his wife 76, the loan was for £30,000, yet both are on pensions. When Inside Timeshare spoke with them, the question asked was, had you gone to your bank, do you think they would have provided the loan? Well we all know what the answer to that is. They are now taking legal action.

barclays

Unfortunately this is not just the case for Europe, in the United States the same controversy exists.

 

Roddy Boyd of the Southern Investigative Reporting Foundation has been highlighting this, on 27 April 2016, he published an article on a Credit Union which has been supplying loans for Diamond Resorts clients. Quorum Federal Credit Union has been in operation for 82 years, as with all credit unions they are member based.

quorum

http://sirf-online.org/2016/04/27/the-enabler-and-the-lifeline-diamond-resorts-and-quorum-fcu/

 

Quorum, has been supplying loans for the holiday ownership industry for years, Diamond Resorts are their largest portfolio. Diamond tend to send the riskier applicants to the credit union, these are those in the lower credit ratings, what the Americans call “subprime”. In other words the banks would not touch them with the proverbial barge pole.

 

According to Roddy Boyd the deal provided around $40 million in loans for Diamond and in return these borrowers became members of Quorum. Sounds like a win win for both, (not the consumer).

 

At least Shawbrook Bank have admitted that it has seen a problem in this area, setting aside a substantial amount to cover any future problems. In the end a loan for a holiday product which will on average be around £10,000 or more, is a huge commitment, not one that should be signed and approved on the day. Especially by the sales staff who have a vested interest in getting the “deal”.

 

Inside Timeshare would like to thank Irene Parker of the The Street for supplying the link to Roddy Boyd´s article. Do read it in full yourself as we have only just touched the surface, also read the following link, again it makes interesting reading.

 

http://sirf-online.org/2016/03/07/27464/

 

If you have any questions relating to this article or any others published contact Inside Timeshare and we will try to find the answer for you.

together

News from across the Atlantic.

Recently Inside Timeshare has been collaborating with Irene Parker, who writes for the online Financial Journal The Street. Irene is a long time Diamond owner and has had many battles over the years, she has highlighted the way members are treated and the continual upgrading resulting in many people having financial difficulties.

 

She has written many articles on the subject of timeshare, mainly showing the financial side regarding the stocks and shares. Thanks to Irene and The Street, Inside Timeshare was able to break the news about the buyout of Diamond by Apollo Global Management. So it would seem that members of Diamond Resorts in Europe are not alone in how they are treated, they do have allies over “The Pond”.

http://www.thestreet.com/story/13624491/1/is-apollo-returning-to-its-junk-roots-with-its-acquisition-of-diamond-resorts.html

collaboration

Scott Miller published an article in Latticework titled My Investment Case for Diamond Resorts International, this appeared to incense quite a few people, so Irene added her questions to it creating the Virtual Interview. This is it, hope you enjoy.

 

Is There a Disconnect Between Timeshare Owners and Venture Capitalists?

My apologies to John Bird and John “subprime” Fortune

 

By Irene Parker

July 7, 2016

I believe there is a bit of a “disconnect” between owners and venture capitalists.

http://latticework.com/my-investment-case-for-diamond-resorts-international/

Mr. Scott Miller, founder of Greenhaven Road Capital wrote the above article in defense of Diamond Resorts International.

The following are my responses to Mr. Scott Miller’s declarations about Diamond Resorts. His instructor was Adam Wyden of ADW Capital. Front Four Capital and ADW sent a letter to David Palmer last year urging a leveraged buyout – or in Wall Street lingo – exploring alternative ways of maximizing shareholder values……

 

My virtual interview with Mr. Miller:  

Keep Reading

consumer alert

New Claims & Disposal Company, But Where are they Based?

Another company has just popped up on the radar, Charles Ashworth Consulting, with the website:

http://www.charlesashworth.com/

 

According to their website they are a claims specialist company, they list various types of claims including PPI and Solar Panel claims. But their specialist area appears to be timeshare claims and disposal.

timeshare claims

Now the website was registered 6 May 2016 only just 2 months ago, with hidden registration details. On the home page they show three customer comments, two are for disposal and one is for what looks like a section 75 claim. What is strange is if the website has only been running for this length of time, how could these have been done? Section 75 claims usually take months and cancellation of contracts also take a long time. Fine if this company has been running long before the website, but no registration can be found at UK Company House or the equivalent in the Republic of Ireland.

 

The address for contact is Phoenix House, Monahan Road, Cork. This is business center which offers rental office space including one day use, virtual office facilities with telephone answering and mail collection.

 

The telephone number they give is: 028 9521 5532 which is for Belfast Northern Ireland. Where are they actually based, is it the Republic of Ireland or Northern Ireland? Another number found is 0121 667 8770 which is Birmingham England.

 

Nothing really adds up, surely if they are a company pursuing claims, should they not be registered?

 

They show no company registrations or any type of registry with any organisation such as the Ministry of Justice who oversee claims management. These are usually fundamental inclusions on any company website.

EU Judge

Remember, if you are claiming under section 75, the mains points of the claim are: you have not received the goods or services paid for or the company no longer exists. If you have had your timeshare for a number of years and have used it, then where is the claim? The credit card company will argue that you have received the goods or services paid for. Credit card companies will not pay out just because the contract sold has been deemed illegal. So in respect of companies promising claims under section 75, all you are paying for is a relinquishment. Then you must ask yourself will your resort accept it? Will they argue they do not recognise the company you are dealing with? If this is the case then you will have paid for nothing and are still liable for the maintenance.

In order to claim the full amount paid for your timeshare, you must have purchased or upgraded after 5 January 1999 in Spain, the contract must be for more than 50 years, a payment made within the 14 day cooling off period or you have been sold floating weeks or points systems. Then the only way to get this money back is through legal action in the courts, then your contract will be declared null & void also.

 

So once again it pays to do your research before dealing with any company, if you have had any contact with a company and want to know more about them, Inside Timeshare will help you find the answer. If you want to know how to find a law firm who can help you we will point you in the right direction.

 

advice1

Going to a Meeting? Best Advice.

Over the past week Inside Timeshare has had enquiries from many people about various companies they have been to see. The one theme that has been the same is the fact these meetings have been very intense, all have commented it felt like when they first bought timeshare. Must have a decision on the day, it has to be today or it will be too late.

 

They have also handed over their original documents, then once home they start to have doubts about what has happened, This is when they start to look on the web, and the realisation hits them that they may just have been conned again.

sales meeting

In one case the client even tried to stop the credit card transaction the following day, but the credit card company told them they should give this particular firm a year to see if they would deliver what was promised. This in itself is totally wrong, surely if you have doubts and report it to your bank, especially the following day, they should be on your side. After all it is preventing a possible fraud. The banks do say if you think any transaction may be fraudulent contact us to stop the payment.

 

Also in all the cases the client has handed over all the original documents, this now presents a problem. How do you get them back if you have found information that makes you change your mind about the company you have just met?

 

In most cases they are gone for good, then when you do find a genuine firm you no longer have the paperwork and they can’t then do anything for you.

 

The only advice that Inside Timeshare can give is never take the originals with you, never pay anything until you are certain you are dealing with a genuine company. Also beware the “No Win No Fee” offers, they are the enticers and usually end up with a demand for some kind of payment. Any payment you do make should also be made on a Credit Card, not a bank transfer, cheque or even debit card. Using a credit card you are then protected by the Credit Consumer Act 1974 Section 75.

 

Any genuine and trustworthy company will accept your decision to go away and think about it, make a payment later and then send the documents. Also, always keep copies yourself. Just remember how you were sold timeshare in the first place, today, today, today, pressure, pressure and more pressure.

tspresent

 

Think, research and be sure before you go, then once there, think, check and be sure before committing.

 

If you need any help in researching any company that has either contacted you or you have found, Inside Timeshare is here to help. Contact using the comments section with the company details and we will be in touch by email with any information we find. Have a good weekend

invest

TCA Highlight Silverpoint Preying on the Vulnerable.

The TCA yesterday 8 June 2016, published an article regarding how Silverpoint (Resort Properties) may be taking advantage of existing members who they know are in a vulnerable position.

tca logo

The TCA have received a letter from a couple who outlined their dealings with Silverpoint. The couple are retired and care for a daughter who is severely disabled, what follows is in my mind just disgusting.

 

The sales rep on finding this out called in his manager, he offered them a “FAVOUR”. They were offered an Investment, which is illegal in the selling of timeshare. This favour was to spend another sum around £10,000 on a one week unit of timeshare, this unit would then be rented out in 2015 by Silverpoint on their behalf in 2015 for £800.

silverpointlogo

 

 

 

After this Silverpoint promised to refund the £10,000 as they would then sell it on. When they returned in 2014 they were told this was not then possible and were convinced to trade it in for another resort The Club Paradiso They have now “invested” around £30,000 for timeshare units they can not afford.

 

This particular practice has been going on for many years and there have been many cases upheld in the courts. This particular practice was highlighted in a blog called mindtimeshare the truth by a Mrs Wilson, who had also been taken in by the sales pitch.

 

Please be aware that timeshare does not increase in value and any promise that you will either get your “investment” back or even make a profit is false, it is also against the EU Timeshare Directives. The courts in Spain are very aware of this practice and are now ruling very much in the client’s favour.

 

It is also disappointing that as Silverpoint are also TATOC and RDO members that this has not been stopped. Is it because this company is one of the main contributors of funds to these organisations. After all TATOC should be looking after the interests of the owners and the RDO should be ensuring that its members play according to the rules and the law.

 

tatoc logordo-logo

For the full story follow the link to the TCA and also Mrs Wilson’s blog.

 

http://www.timeshareconsumerassociation.org.uk/2016/06/08/is-silverpoint-preying-on-the-vulnerable/

 

http://www.mindtimesharetruth.com/

 

If you have had any dealings such as this Inside Timeshare would like to hear from you, if you require any information as to how you stand legally we will point you in the right direction.

thoughts

My Thoughts Today (End of May)

We are now at the end of May, it has proven to be quite an interesting month. It began with the start of the RCI class action brought by Edwin Coe LLP, as yet no news from the case is available. It went into a second week, and as we all know the legal system takes time, so we do not expect any judgement from the High Court anytime soon. But we will keep you informed as and when the news comes in.

 

It has also been a very expensive month for some of the resorts with huge awards being issued by the courts in Spain. One firm has secured a massive payout in the past week for one of its clients, with many other cases in the pipeline. This has shown that the authorities in Spain are taking the matter of companies selling against the rules very seriously indeed.

legal clipart

The case of Mrs B now seems to be at an end, as stated in a previous article, the paperwork she has, does state her timeshare has been sold. This was on a document signed and sealed by a Public Notary. It now only leaves the matter of the resort to accept this fact, but due to her age and health somehow I don’t think they will bother to cause any more problems. After all it isn’t really in their best interest to pursue this and end up with a very bad public image.

 

Earlier in the month we ran an article on happy owners, once again thanks to Kim and Andy for taking the time to talk about and write down some of their experiences. This piece did show that for some timeshare does work well. It also showed that like anything else you have to learn how to use it. Timeshare is a good concept, it is just a shame that in the past it has been sold with flaws. The current situation with the law being clarified in Spain bears this out.

bogus clipart

We have also issued warnings about bogus law firms, these have been claiming that courts have awarded payments to owners who have lost money to resale companies. These have been followed by calls from bodies claiming to be either inland revenue or other officials. Then comes the crunch, you have to send them by bank transfer a tax payment. It was also highlighted that many of these entities are using names or very similar names to genuine companies.

 

It was also announce this month that The Privileged Club had filed for liquidation, apparently this is because the owner is seriously ill and cannot continue to run the club. Unfortunately we don’t yet know what will happen to the members, hopefully another club will take them on. We hope that Gary Woodward does indeed get well.

 

Articles on the history of timeshare were also published, showing how it has developed over the years. We ended with an article about one of the most infamous resale crooks on the Costa del Sol, whose business was the model for all subsequent scam companies. The question on this last piece is will he be making a return when released from prison? Lets hope not.

It now only leaves Inside Timeshare to say have great bank holiday weekend, we hope that the weather is fine for you to begin the BBQ´s. Remember do your research before entering into and contract, check and check again. If in doubt or don’t know where to look contact us and we will give you the advise.

bbq

 

lake tahoe

A Short History of Timeshare

The story of timeshare is rather vague, although it is generally credited to a French developer Paul Doumier. His company The Société des Grands Travaux de Marseille developed ski resorts in the French alps. He coined the phrase “It is cheaper to own the hotel than rent the room”, this became the company slogan and it attracted many buyers. Doumier began marketing his concept between 1964 and 68, primarily with the resort in the alps.

 

Over the border in Switzerland another company developed their own timeshare business, this was Hapimag, short for Hotel und Appartementhaus Immobilien Anlage AG, and was created in 1963. The owners Alexander Nette and Guido Fenngli began buying their first resorts, these primarily were in Italy, Spain and Switzerland. Hapimag marketed their timeshare on a right to use basis rather than on deeded ownership.

hapimag

Hapimag is still going strong today with around 60 resorts, spanning Europe, North Africa, Turkey and Florida. They are considered to be of a high standard with Hapimags own shops and fitness areas. They also have a very good reputation for their child care and activities. Strangely enough they have never affiliated with the major exchange companies and are considered one of the largest independent timeshare companies.

 

In 1969 the first timeshare resort in America was opened in Hawaii at Kauai Kailani on Kauai. The founders of the company Vacation International, Bob Burns and Bob Ringenburg, sold their weeks in 40 year increments and also developed the first points system.

disney

Florida was next and was one of the first states in continental America to develop timeshare in the early 1970´s. The Californian company Innisfree was next, they were the first to sell deeded timeshare. Around 1973 they in partnership with Hyatt had their first development at Lake Tahoe in California. It was here that the term timeshare was first used to describe vacation time purchased from a resort. When Innisfree used the word timeshare on an application to the Californian Department of Real Estate, the popularity of the term increased, it was then used on all promotional materials.

hilton

Around 1974 RCI was founded, the husband and wife team saw a need for owners to be able to exchange with owners from other resorts, which increased the popularity of the concept. No longer were you tied to the resort you purchased. RCI has since become the largest of the exchange companies and has offices on every continent. They are also part of the Wyndham group.

 

From the late 1970´s and into the 80´s timeshare development increased, with massive building programs worldwide. Spain and Portugal were probably the main areas for these developments.

marriott

Since the start many companies have become involved in timeshare, some good some bad. Major companies such as Disney, Marriott, Hilton and Hyatt have helped improve the image of the product. They offer some of the best resort around the world and also have the benefit of being among the largest hotel chains.

In 2007 or thereabouts the famous holiday camp company Butlins developed a timeshare product at their Minehead resort in Somerset. They offered a points system called Blueskies, which had a lifespan of 30 years as opposed to the perpetuity contract most companies were selling. Members were not limited to Minehead, they could also use the points at other Butlins resorts or even use the exchange system with RCI. Butlins has certainly come along way from it´s Hi De Hi image.

butlins

With companies such as the ones mentioned here timeshare can be a good product, it is just a shame that some companies involved in the industry have given it a bad reputation. Again it is a question of oversight and regulation. If the right model is used there would not be the problems associated with the industry.

 

I hope that this article has given a small insight into the history of timeshare, it has been quite fun looking for the information and answered many of the questions I had. There have over the years been many stories as to how it started, Most of the sources I located all agreed to this version.

 

If you have any questions about timeshare you can contact Inside Timeshare via the comments section.

jackpot

An Expensive Month for Some!

Today I was looking at some of the news from the past month, it looks like it was an expensive one for timeshare resorts.

 

The TCA reported a case against MacDonald Resorts Leila Playa Club in Spain, this action was regarding contracts signed between 2003 and 2008. From the TCA article (below) it looks like the courts accepted the illegality of the perpetuity contract, the fact that buyers were not given the information they were entitled to and also that the resort did not comply with the right of withdrawal.

 

The article did not state the law firm which took on the case but it was finalised on 5th April 2016, with TCA publishing it on 4th May.

 

In this case the court awarded the client £11,839.22 The court also stated that interest on this sum was to be paid and all costs incurred by the trial. This is another ray of hope for many, it shows that the Supreme Court Rulings are being taken notice of in other courts.

 

http://www.timeshareconsumerassociation.org.uk/2016/05/04/tatoc-members-macdonald-resorts-contracts-proven-null-and-void/

 

In another part of Spain a law firm which has been mentioned in articles here, has had a tremendous month. The main highlight to the Canarian Legal Alliance month was the payout of Mrs Grimsbo, the Norwegian client who made history with the first ever Supreme Court Ruling. She has as reported on 4th May been paid out over 43.000€.

champagne

http://www.canarianlegalalliance.com/payout-for-our-first-supreme-court-victory/

 

Now since The beginning of April the courts have made awards to CLA clients of over 361 893.14€ all against ANFI.

 

  • April 4            27 600€
  • April 11          52 095.72€
  • April 14         92 797.42€
  • April 21      130 000€
  • May 4           43 000€ (Grimsbo)
  • May 6           17 000€

**ARCHIV**Banknoten in 50er, 100er, 200er und 500er-Scheinen liegen auf einem undatierten Foto, das von der Bundesbank in Frankfurt am Montag, 3. Dez. 2007, zur Verfuegung gestellt wurde, auf einem Haufen. Der Euro hat in Deutschland nach einer Umfrage fuer die Dresdner Bank an Popularitaet verloren. Knapp sechs Jahre nach Einfuehrung der Gemeinschaftswaehrung erklaerten nur noch 36,3 Prozent, sie faenden den Euro gut. 2004 lag die Zahl noch bei 42,6 Prozent, wie die Bank am Sonntag, 16. Dez. 2007 aus der Umfrage der Forschungsgruppe Wahlen berichtete. (AP Photo/Bundesbank) --- Undated photo provided by the German Federal Reserve Bank in Frankfurt on Monday, Dec. 3, 2007, shows Euro bank notes in 50, 100, 200 and 500 Euro bills. (AP Photo/German Federal Reserve Bank)

On April 26, CLA also had another victory, this time against Palm Oasis, the client in that case received an award of 26 000€. The award in this case was the perpetuity contract and the taking of a deposit within the cooling off period.

 

This is all in one month, how can the industry sustain payouts like this, all because in the past they thought they could get away with anything. They thought they were untouchable, well we have heard that before, now they are reaping the whirlwind, or is it a Tsunami as one paper put it!

So to finish, congratulations to the clients on your cases, well done to all the legal teams who fought for your rights. If the industry has any sense it would know that the writing’s on the wall, they can no longer behave as though they are lords and masters, that it is you the consumer/member that keeps them going and keeps them in a job.

on the wall

If you require any information regarding any article posted or have been in contact with any company and are not sure of their authenticity, Inside Timeshare is here to help. Contact us  on the comments section, if we do not know the answer we will find out.

testimonials2

Testimonials: Fact or Fiction?

I was asked over the weekend if reading testimonials on timeshare resale websites was a good idea. Could they actually be believed? Well there is no simple answer to this question, it really does depend on the company.

 

I have been looking at one website which comes up on a regular basis, sellmytimeshare.tv

sellmytimeshare-logo

Some of the testimonials show photographs of the people writing them, the strange thing is they are at one of the companies offices. This reminded me of how ILG operated when selling the DWVC membership. On this website you don’t just read a copy of the comments, you can also click on a button and view the “Original”. This proved quite fun.

 

http://www.sellmytimeshare.tv/what-we-do/what-our-customers-say?limitstart=0

 

All were written on the same types of note paper, many on paper torn out of a spiral notepad, some on lined paper with a margin, just like you used at school for your essays. All appeared very hurriedly written, it certainly looked like the notes were from those who had just attended a presentation and purchased Monster Credits. “Please write something nice on this piece of paper for me, so my boss can see I´m doing a good job”.

testimonial1

It makes me wonder if those people writing them have seen the website showing their names with the testimonial. Do they still agree with what they have written, or would they retract?

 

So the answer to the question can they be believed, is really down to you and how you check them, personally I don´t believe them, having been in this industry and having seen what goes on has made me very suspicious. For me a testimonial would be from the person once they have returned home, if hand written, on proper paper, like the stuff we used to use “Basildon Bond” not torn from a note pad, then written neatly in the old fashioned way. (do we still do things like that)?

 

Beware the testimonial then, like everything to do with timeshare make your checks, research the company and if in doubt check again. If you require any information on how to do this contact Inside Timeshare, we are here to help and inform.

advice

Look Who Is Now Giving Timeshare Advice!!!!

Firstly thank you to the TCA for giving me a good laugh over the past couple of days, with their articles on Silverpoint. Well well well, things never cease to amaze me in the industry of timeshare. The company with the biggest track record of destroying an otherwise good product is now in the business of giving “ADVICE”.

 

http://www.timeshareconsumerassociation.org.uk/2016/04/19/silverpoint-bait-and-switch/

 

http://www.timeshareconsumerassociation.org.uk/2016/04/20/silverpoint-consumer-advice/

Silverpoint_Consumer_advice_Logo_308U

Siverpoint Consumer Advice website, the latest tool in their attempt to deceive the poor old public. The track record of this company is a long and painful one. As many people have found out to their financial cost.

 

Let’s start with their wonderful “Investment Scheme”, selling blocks of weeks with the promise of a return within 2 years of around 15%, with the sale of these weeks. This has cost you around £20,000 to £30,000. Then comes the top up, sorry these weeks that you have are not selling well, because people want something better. Tell you what, why don’t you buy 6 weeks in this resort which is much better, it has a higher sale value and is sought after. What we can do is take the 6 weeks you own already and trade them in for the new one.

 

So they give you a price of say £50,000 with a trade in of £15,000, but you can’t afford this. You also do not want to lose your “investment”, so what do they do? Arrange a finance agreement for you on the day. Barclays Partner Finance is well known for working with Silverpoint and has been the subject of several court cases.

 

Now you have a new “investment deal”. Again the promise is they will sell them for you in 2 years, in the meantime they will rent them for you to help pay the maintenance. Guess what happens next? They can’t sell and want you to trade in for another better resort or even the Sunseeker yachts they used to peddle.

buyerbeware

All this is in the public domain, this company has been and still is the subject of legal action. Below are three videos taken from youtube. The first two show a sales rep called Leanne and then the Sales Director Dave Taylor, basically fobbing off a client who has been duped of around £90,000. The third video shows a courtroom where Dave Taylor, who looks remarkably nervous, trying to say that Silverpoint are not Resort Properties , well this didn’t go down well with the judge. After all the CEO of RP is Mark Cushway, the CEO of Silverpoint is Mark Cushway, the owner of both companies is Bob Trotta. Del Boy would not be proud of the scams that this lot have pulled, at least he had some scruples.

 

https://www.youtube.com/watch?v=qkrdK0shvn4

 

https://www.youtube.com/watch?v=_oNdi4NT4O8

https://www.youtube.com/watch?v=Ksff6yofqJs

 

As you can see from these videos, this company cannot be trusted, so how can they give any advice?

 

They also say on their website only trust RDO and TATOC members, these organisations as Inside Timeshare has previously shown are there only for the benefit of the industry. Not to forget that Mark Cushway is also a board member of the RDO, with Silverpoint being a major contributor to these organisations funding.

rdo-logotatoc logo

I have also looked at the website for Canarian Legal Alliance as they have had great success in court against this company, In the news section under the tag of Silverpoint are the archives of cases won. They show cases going back to 2013, so everything is in the public domain and this company along with the RDO and TATOC are trying to make out that none of this is true. Only their advice is worth anything, well I for one do not believe a word of it, the truth is out there, it is up to you to find it and your choice on who to believe.

 

Inside Timeshare is not affiliated to any timeshare company, the information provided is taken from research and written to provide you with independent views on what should be a great product.