If you’re buying timeshare anywhere in the European Economic Area (EEA)1 you have certain minimum rights

Summary of EU Legislation on Timeshare

The EU regulates aspects of timeshare, long-term holiday products, resale and exchange contracts. In 2011 the new Directive 2008/122/EC replaced the old Timeshare Directive 94/47/EC with clearer and simpler rules. The new Directive covers the market changes and new products e.g. holiday clubs, resale and exchange.

The new regulations extend the scope of previous rules to cover:

  • Long-term holiday products (e.g. holiday clubs)
  • Shorter term contracts – all purchases for a year or more, including tacit renewal of shorter periods
  • Timeshare-like products e.g. timeshare in canal boats, cruise-ships and caravans or timeshare contracts for less than three years (previous legislation only covered periods of three years or more)
  • Resale and exchange of timeshare schemes

How does the law protect buyers?

Key points of the new Directive are:

  • Full harmonisation across the EU
  • Detailed rules on pre-contractual information
  • Cooling-off period is 14 calendar days, with no cancellation costs incurred. No reason has to be given
  • Prohibits traders or any third party from asking consumers for deposits, advance payment, guarantees or reservation of money during the cooling-off period
  • Specific payment rules for long-term holiday product contracts
  • Compulsory penalties (national) if the trader does not comply with the national rules implementing the Directive
  • Any linked loan or finance agreement is automatically terminated if the consumer cancels
  • Timeshare and long-term holiday products must not be sold as an investment
  • Contracts must be in an EU language of the consumer’s choice

Full text of EU Directive

 UK Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010

Additional Codes of Conduct

The Timeshare Business Check website (part of the Timeshare Task Force, managed by KwikChex) is a free service for consumers with problems and concerns – including assistance and advice re timeshare relinquishment, refunds and law enforcement – visit now to get help.

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