“Timeshares” originated when escalating property prices made it impossible for most people to afford a holiday home.
With traditional Timeshare, buyers pay a lump sum, usually for one ‘week’, which allows them to use either a specific unit at the same time every year or ‘swap’ to other resorts using an exchange company. In addition to the initial purchase price, Timeshare owners are also required to pay annual maintenance fees.
The points system gives users more flexibility with where and when they travel as points can be exchanged for weekend getaways, full week stays or other products.
Holiday Club Memberships consist of registering to receive discount prices on holidays, flights and/or accommodation. This does not provide access to a specific apartment or resort, but alleges that you can visit accommodations and/or buy flights at a discount.
You will have to pay a registration fee to join and maintain the payment of membership fees, normally annually. You would need to pay for each holiday you book on top of your yearly membership charge.
Cooper Burgess International is a specialist Claims Management company offering qualified professional advice to those who have been mis-sold Timeshare and/or Holiday Club memberships.