Petrol soars above £2 a litre in UK as Ukraine war drives up prices
Petrol prices have reached record highs of over £2 per litre in London on Wednesday as the war between Russia and Ukraine drives up fuel costs. The average price of petrol in the UK reached £1.55 per litre for the first time on Monday and has increased by three pence since then. This situation has been mirrored across the world, as the cost of fuel continues to rise.
Of course, this will have a knock-on effect on an individual’s timeshare ownership. In the vast majority of cases, timeshare owners are bound to pay maintenance fees to their resort, which enable the resort to operate throughout the year. As fuel costs rise, it is inevitable that maintenance fees will rise too.
These resorts will have to pay the rising fuel costs and those costs will be passed on to consumers, via the maintenance fee. The maintenance fee is designed for that purpose and if the rises in fuel prices are mirrored in timeshare, as we expect them to be, then maintenance fees are set to rise well above £1,000 in the very near future.
Given that this war is likely to continue for the foreseeable future, and with the cost of living crisis starting to bite, there has never been a better time to remove the liability of a timeshare. If you don’t, then it will cost you significantly more in the future.
If you want to explore disposing of your timeshare now and avoiding the large maintenance fee rises, then please contact us today.
It’s also unfortunate that in addition to the hardship that many are experiencing, some timeshare owners have been cold called repeatedly and preyed upon by dishonest scammers all looking to take advantage of those that are most financially vulnerable and are desperate and eager for an escape.
Types Of Timeshare Scams Being Used
We have previously detailed examples of the types of timeshare scams that are being used to try and take advantage of timeshare owners who are keen to be released from the financial burden of a timeshare they no longer want, cannot afford or due to age, medical reasons or circumstances can no longer use. You can read them again by clicking on the links below
Timeshare Exit Scams
With a recent increase of genuine timeshare claims being made public, the amount of fraudulent individuals and organisations using this to their advantage has risen significantly.
Timeshare Selling Scam
A widely used scam in recent years and unfortunately many timeshare owners are already out of pocket and have fallen victim, losing even more money and ending up worse off than before.
Viking Ship Timeshare Scam
Different from the others which take the approach of trying to deceive with fake friendliness and empathy, The Viking timeshare scam take a different tactic which is usually one of intimidation, with the sole purpose to defraud timeshare owners.
Ultimately, it’s the same with all timeshare scams, if you are cold called, contacted out of the blue or what they are claiming sounds just too good to be true then it almost certainly is. Never, ever give out any personal information, send any money or sign over your property without taking your time to do in depth research and confirm that everything is legitimate.
Any genuine timeshare solicitor will always be extremely careful to manage a client’s expectations and will be honest, transparent and realistic in terms of what could possibly be achieved in regard to your case. If you have been contacted by someone claiming to be a lawyer or solicitor, then be sure to do your due diligence and check if they are regulated by the SRA and if the individual does in fact represent the firm they claim to be from.
Do your research, ask them lots of questions, don’t just be satisfied with their answers and don’t be easily fooled by a smooth talker and a fancy website.