Consumers claim that they were not informed about entering a credit check nor was they explained that the interest rate was changeable.
When it came time for the claimants to sell the timeshares, Silverpoint blamed the recession. They were then encouraged to take further loads to upgrade the properties for an easier sale.
Section 75 of the Consumer Credits Act states that the creditors can be liable for the actions of the suppliers.
Clydesdale denied that these were valid claims as little proof could be provided. Clydesdale legal response said the claims rest on verbal agreements and none of which were quoted directly by the claimants. Furthermore, they said the claims were for products sold too far in the past and that they should not be bound by laws of England and Wales if timeshares were sold in Spain.
Clydesdale also insisted that the owners knew what they were getting themselves into and that they do not owe a duty of care to these customers.
Use our free timeshare compensation calculator to find out if you are entitled to compensation.
Use our FREE compensation calculator to find if you are entitled to compensation!
Some of the information in this post has been cited from Sam Barker, published in Mortgage Strategy. Full article can be found below
- 20 MAR 2017