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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.

Is it a Timeshare Resort or a Hotel?

Having spent sometime reading various forums, it occurred to me that many timeshare owners are not happy with a very disturbing situation. The fact that non-owners are able to book into their resorts.

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After listing several resorts around the Canary Islands, Mainland Spain and Mallorca, placing these into google I was amazed at the results. All came up with various booking sites.

Booking.com; ebookers.com; trivago.com; villas.com; medresorts.net and tripadvisor.com.

Many had websites direct to the resorts offering quite substantial discounts.

 

Was not timeshare originally sold as an exclusive membership, with people being told that only other owners could use them and the facilities. Entering dates for availability and price came as a bit of a shock, in many cases it seemed that the prices were less per week than many owners are paying in maintenance fees. I know if I was an owner I would not be too happy about this. Especially having paid out thousands to buy it in the first place.

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The question is now is this legal let alone ethical?

 

According to one Spanish Lawyer that commented, it appears this may not be legal. He stated that the double business, hotel & timeshare resort/club was not allowed unless they were fixed weeks and apartments. Well I´m not a lawyer so I don´t really understand this, but I do think that it is not ethical.

 

Has this come about because of the dwindling number of people wanting to own timeshare, or is it the resorts just getting greedy? Many people who own points or floating weeks have told me that getting the availability to the resorts they want is difficult and in some cases impossible. Is it because of these rentals? So on one hand the resorts get your maintenance fees and on the other extra income from renting out. Not a bad business to be in is it!

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Thanks to the age of the internet timeshare has become a rather expensive holiday option. Gone are the days when the sales staff could say at least you are guaranteed a certain standard, or use the old financial logic pitch. Yes in those days being tied to the high street travel agent was expensive for decent accommodation, as for the package deals, well, did you know where you would stay until arrival and what condition was the resort/hotel? Yes we all remember those horror stories.

 

Are you happy that your resort now accepts non-owners, let us know your feelings through our comments section. Have a good Easter.

Welcome Back.

Welcome back to Inside Timeshare. It has been a couple of years since we last published, many changes have taken place in the world of timeshare. The Supreme Court in Spain has clarified the EU Timeshare Directives and these regulations are now enshrined in Spanish Law. This is one of the first States in Europe to actually protect you the consumer from unfair practices in the world of holiday ownership.

I hope that the information we provide will be of use to you. We welcome any comments and information that you the reader can provide about this murky world of holiday ownership. It is you that can bring to our attention events and companies you may be unsure about. We will endeavour to find and answer any query that you may have.

Enjoy the posts and we hope that they will bring you a new and fresh insight into the world of Timeshare.