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Understanding the Financial Ombudsman Services and Handling Timeshare Complaints

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The Financial Ombudsman Services and Handling Timeshare Complaints

When it comes to resolving disputes related to timeshares and financial matters, the Financial Ombudsman Services (FOS) plays a vital role in ensuring fairness and justice. However, it’s important to understand that the process for handling timeshare complaints through the FOS can be a lengthy one, with various stages involved. Here, we’ll take a closer look at how the FOS operates and why resolving timeshare complaints may take time.


1. Initial Complaint Submission

The journey begins when a timeshare owner decides to file a complaint with the Financial Ombudsman Services. This complaint typically revolves around issues related to their timeshare, such as misrepresentation, unfair contracts, or other financial disputes.


2. Allocation to an Investigator

Once the FOS receives the initial complaint, it is allocated to an investigator who specialises in handling timeshare-related cases. These investigators are tasked with thoroughly examining all aspects of the complaint to reach a fair and impartial decision.


3. Investigator’s Decision

After conducting a comprehensive investigation, the appointed investigator reaches a decision. This decision is shared with three key parties: the client (the timeshare owner), the bank or financial institution against which the Section 75 complaint is filed, and Sarah Waddington Solicitors, who are representing the client’s interests.


4. Bank’s Response

At this point, the bank has the opportunity to either accept or reject the investigator’s decision. If the bank agrees with the decision, it becomes legally binding, and the compensation owed to the timeshare owner is issued promptly. This represents a successful resolution of the dispute.


5. Ombudsman Allocation

However, the process may encounter delays if the bank rejects the investigator’s decision or fails to respond within the specified timeframe. In such cases, the complaint is escalated to an Ombudsman.


6. Independent Investigation by the Ombudsman

When the complaint reaches an Ombudsman, the entire investigation is conducted independently from scratch. This ensures a fresh and impartial assessment of the case. The Ombudsman examines all available evidence, reviews the complaint, and re-evaluates the decision.


7. Final Decision and Publication

Once the Ombudsman completes their investigation, they issue a final decision. Importantly, this decision is legally binding and represents the ultimate resolution of the timeshare dispute. The outcome is also made public by being published on the FOS website, providing transparency and accountability.


Delays and Backlogs

It’s crucial to acknowledge that these processes can be time-consuming, particularly due to the current backlog of timeshare cases being processed by the Financial Ombudsman Services. In some cases, you can wait up to six months or even longer for a complaint to be allocated to an Ombudsman if the investigators decision is rejected or the bank fails to respond.


Beyond Our Control

As Sarah Waddington Solicitors, we understand that these delays are beyond our control. We remain committed to advocating for our clients’ interests and ensuring that their timeshare complaints are handled diligently and fairly within the framework provided by the FOS.

While the process for handling timeshare complaints through the Financial Ombudsman Services may require patience due to delays and backlogs, it represents an essential avenue for resolving disputes and seeking justice for timeshare owners. Rest assured that Sarah Waddington Solicitors will continue to work tirelessly on your behalf to navigate this process and achieve a favourable resolution.

If you have purchased a fractional timeshare product using finance and want to explore getting your money back, then please contact us today.

Sarah Waddington Solicitors

Sarah Waddington Solicitors do NOT work with any 3rd parties and are not working in partnership with any other companies. If you are told otherwise, please get as much detail as you can and forward it on to us. We will deal with it appropriately.

If you want any assistance please feel free to get in touch with us on 01920 481499, or request a call back 

Finally, remember any genuine solicitor will be extremely careful to manage a client’s expectations. They will be honest and realistic with what could possibly be achieved in regard to your individual case. If someone claiming to be a lawyer or solicitor has been in contact, be sure to do your research and check if they are regulated by the SRA and if the individual is registered as a solicitor.

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