“I have never been able to achieve a successful exchange using my exchange company

“Timeshares are easy to buy, they are not so easy to sell. Timeshares are worthless.”

“I never realised when I signed that it was for perpetuity – forever. If I die the liability goes to my estate. There is no exit policy.

“We paid £5,000 for our timeshare and the finance company has been charging an exorbitant rate of interest, plus the loan is secured on our house, so I really need to get this sorted.”

500 Britons sue over holiday-home timeshare scheme

Nearly 500 Britons who own holiday homes are going to court today to try to recover millions of pounds in alleged damages in a dispute over the operation of a European timeshare scheme.

A High Court judge in London will hear members of a worldwide timeshare exchange club allege that the bosses of the operator RCI Europe “skimmed off” the best properties by selling them, despite having said that they would make them available for exchange.

According to the claim – which could ultimately affect up to 9,000 British clients of RCI – the timeshare participants were rarely, if ever, able to exchange their right to use one property for an alternative holiday home of the same value in a different location. The membership scheme involved properties around the world.

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