Posts

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Interest-Only Mortgages, The Ticking Time Bomb !

Thousands could be owed Remuneration, if they were advised to take out an interest-only mortgage when other loans were available.

 

Experts in the industry have been warning for years about the ticking time-bomb of interest-only mortgages.

For most of us, our mortgage is the biggest and most important loan that we will ever have, a mortgage will be your largest debt. Given that the amount loaned can be spread over many years, the repayments are more manageable and affordable !

Before the financial crisis, many people were encouraged into interest-only mortgages. It was a popular and more affordable way … Read more

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TSB Overwhelmed by Incidents of Fraud.

TSB loses 12,500 customers after database migration Collided its system for millions in April. The bank says it has been overwhelmed by incidents of fraud following the technical meltdown.

Thousands of customers have been receiving fraudulent messages and emails and the bank has been unable to properly assist customers due to the sheer volume of incidents.

So far TSB has received 95,613 complaints from customers who have been locked out of their online bank accounts and mobile Apps; some customers even gained access to accounts that did not belong to them.

The cause of the problem was an IT migration … Read more

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Marriott Vacation Club Agree To Settle Class Action

Marriott Vacation Club owns and operates more than 70 vacation club properties throughout the United States, Caribbean, Europe and Asia. They have more than 400,000 Vacation Club owners. Owners are able to exchange into other locations through the Interval International Scheme, a timeshare exchange company with over 3,000 resorts. Uniquely, owners may also exchange their ownership week into Marriott Reward Points, which can be redeemed for stays at Marriott Hotel Properties, or for travel activities such as cruises and guided tours with affiliated partners.

It is the latter arm of the organisation that sparked a class action law suit against … Read more

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Westgate Acquires Former Hilton New York.

Westgate acquires former Hilton New York Grand Central Hotel, marking the Orlando based timeshare company’s first entry into New York City.

The two-tower, 23 floor, 300 room hotel is located in the historic Tudor City neighbourhood, at the heart of Manhattan’s East Side and has been rebranded Westgate New York. David Siegel, founder and CEO of Westgate resorts said, “It is with great excitement that I announce Westgate has purchased its first urban hotel located in none other than the Big Apple, this puts the Westgate flag Triumphantly in the heart of one of the most visited cities in … Read more

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What a Timeshare Sales Presentation Is Really Like !

For anyone who has not had the pleasure of experiencing a Timeshare Sales Presentation, here’s how one might go !

 

So you’ve accepted the free dinner, free accommodation, exclusive gift, or tickets to an attraction, and now all you have to do is sit through a “short presentation”. Sounds reasonable ? After all, you wouldn’t expect this freebie for nothing !

The Timeshare rep has done the easy bit, they have got you through the door by luring you in with a free gift, cash, tickets etc. You are, more than likely, already in a pretty good mood. After … Read more

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Why Is Holiday Insurance An Essential Purchase ?

Everyone should get travel insurance as soon as you have booked a holiday. Too often, people book holidays and leave the insurance until last. But what if you book a holiday, then get ill and can’t travel? The airline wont refund you, the holiday company wont help and you’ve lost your money. One of the main purposes of travel insurance is to cover you in case of illness, injury or the death of a family member.

Holiday makers who jet off without buying travel insurance could end up regretting it, as research shows failing to buy cover could cost you … Read more

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The Sophisticated Scammer, Timeshare Scams Have Doubled.

Timeshare, Cryptocurrency, Financial And Legal Scams Have Doubled In The Last Year !

 

More and more customers are falling victim to scams involving timeshare, cryptocurrency, binary options investments and phoney solicitors, according the the charity, Citizen’s Advice. Scammers posing as professionals from financial and legal services are on the rise and such cons now account for a fifth of all scams reported to Citizen’s Advice.

Citizen’s Advice have reported a 6% increase of these types of scams being reported to their advisory service this financial year and they have calculated that the median financial loss for these types of … Read more

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Pensions Company Scam, Compulsory Liquidation Ordered By High Court.

The High Court order the compulsory liquidation of scoundrel pension companies for misusing millions of pounds of pension savings and scamming up to 520 pension savers.

 

Fast Pensions LTD and five other related companies have been closed down in the interest of the public by the High Court. The official receiver in the Public Interest Unit North division is now the liquidator in charge.

The Insolvency Service discovered that 520 pension savers were tricked into investing £21 Million in 15 pension schemes, which now appear to be bogus.

Between 2012 and 2013, 520 people were rascal into transferring their … Read more

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Wyndham Worldwide Split Companies

Michael Brown, CEO of Wyndham Destinations, sat down with CNBC’s Jim Cramer, the network’s resident markets expert, to discuss the split up of Wyndham Worldwide to create Wyndham Destinations and Wyndham Hotels and Resorts, how this split will influence the timeshare market and, how it will benefit Wyndham shareholders.

 

Wyndham Destinations is now purely focused on their Timeshare Vacation Ownership product and investing in its future, by creating a strong brand and a greater market share for its investors. Michael Brown CEO explains: “We have had growth every single year, but what’s really interesting in terms of growth … Read more

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Scammers Stole Life Savings From Dying Woman

A Terminally Ill woman and her husband have lost £53,000 in lifesavings to fraudsters who posed as Santander Bank staff.

 

Carol and John Williams, both in their 60’s, were planning to use their life savings to purchase a new property, after Carol Williams was diagnosed with terminal lung cancer.

The scammers called Mr Williams on his mobile phone. Mr Williams was not alarmed by this, at first, as the number appeared on his phone screen as Santander Bank.

“They told me £15,000 was being taken out of my account by a Stephen King in Dundee, they said they needed … Read more

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