Tough Euro action against timeshare bandits

4.40.00pm BST (GMT +0100) Wed 22nd Oct 2008

Lib Dem MEP for South East England Sharon Bowles has warmly welcomed a key European Parliament legislative report that will better protect the rights for those who use timeshares and holiday clubs. The UK has more timeshare users than any other country in Europe with more than 75% of complaints arising from UK consumers.

Commenting, Sharon said:

"You wouldn't believe the amount of nightmare stories I hear from constituents that have been caught up in timeshare and holiday club scams. The amount of money some people have lost is staggering and tales often come from the most vulnerable such as retirees.

"No longer will consumers be forced to pay exorbitant amounts of money up front to companies that then disappear off the face of the earth. Customers will have 2 weeks to withdraw after signing any agreement and companies will not be able to take deposits during that period.

"Many timeshare holders and holiday club members will now have the right to choose which language their agreement is presented in, meaning an end to contracts in foreign languages that British holiday makers could never understand"

"I am pleased that the EU has taken tough action to tackle what has become a growing source of distress for many constituents investing in property abroad."