We have a number of reasons why we feel that we were mis-sold our timeshare, and also dissatisfaction with the ongoing service.We were sold the timeshare as an appreciating asset that would have value if we chose to sell or could be willed to our children.Subsequently the value of resale timeshare is vitually nil due to the extortionate rate of increase in the maintenance fees.If we did leave this "asset" to our children it would not be an asset but a potentially crippling liability!The maintenance fees have increased by approx 15% per year which is at least four times the rate of inflation.The perpetuity of ownership was sold to us as a benefit and no projections of the increase in fees were shown.We were told that timeshare would provide us with cheaper holidays than packages.Various other problems have occurred. We cannot recall that we have ever been able to book our 1st option for a holiday.Some compromise on date or resort or both has always been required.The resort at which we originally owned (Stratford Court)had a serious dispute with RCI which led to them being disaffiliated,which in turn led to our ownership being worthless as it had been sold to us primarily for the benefit of the exchange facility.We were able to change into RCI points, however this entailed spending another substantial sum. To summarise our experience of ownership has been dissappointing for many reasons,but knowing what we now know and had it been explained correctly at the point of sale, we would NEVER have entered in to it!!!
We have submitted a compensation claim via ITRA so we shall wait and see.
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