RELINQUISH UK OR EU TIMESHARE
TIMESHARE TERMINATION
Why owners wish to cancel
There are many reasons that owners wish to offload the burden of their timeshare contract.
Below you will find some reasons why consumers of timeshare products want to terminate their ownerships.
- Ever increasing maintenance fees making the ownership either unaffordable or not financially viable.
- Lack of availability.
- Mis-selling.
- Inability to travel, maybe due to health or lack of funds.
Cancelling during cooling off period
It is mandatory that all timeshare contract should be issued with a 14 day cooling off period. This is to give the consumer time to reflect and consider the purchase and to ensure they are entirely comfortable with the contract. However, if within this cooling off period you feel you no longer wish to proceed with the purchase, then by following the rules and guidelines within your contract you can cancel. In this situation there are no requirements to provide an explanation or reason for wishing to cancel.
It is also against European laws for a timeshare resort, developer or sales agent to take any sort of payment from a consumer during this mandatory cooling off period.
Cancelling following the expiration of the cooling off period
Without the use of a timeshare release specialist, exiting your timeshare contract outside of the cooling off period will most certainly prove somewhat impossible.
Your timeshare has become a financial burden
If you can no longer afford your timeshare due to specific changes to your financial situation then you may be able to exit your timeshare contract. For example, if you have been made redundant, have been declared bankrupt or your financial situation has dramatically changed, then you may have grounds for termination. However, your resort or developer will not make this a walk in the park, therefore we would always advise you to employ the services of a specialist.
Your timeshare was mis-sold
Should your timeshare have been mis-sold and this can be proven then most certainly there will be a way to legally exit your timeshare contract. There are many instances of mis-selling and the majority of resorts tick each and every box.
Examples of mis-selling & consumer mis-representation:
- Perpetuity contracts / contracts of 49+ years
- Irresponsible selling of financial packages
- Sold as an investment
- Deposit taken on the day or. during mandatory cooling off period
Should any of the above be relatable then do not delay contact Cornerstone Financial, we will work with you tirelessly to both legally and conclusively terminate any obligations that you have towards your timeshare contract.