Shawbrook Bank - Raising a CLC Timeshare Dispute.
posted 5th November 2023
Great news for Club La Costa and Shawbrook Bank victims. In May of this year, the High Court upheld the decision of the Financial Ombudsman Service (FOS), and ordered Shawbrook Bank to pay back victims of the Club La Costa Fractional scheme.
As recently reported in the Times, The lender disclosed in its half-year results that it had set aside £11.4 million for potential redress and that its remediation costs could rise by a further £14 million depending on other timeshare claims it may face.
Shawbrook Bank now has a legal obligation to pay back victims, many of whom have suffered emotional trauma, mental health issues and financial ruin due to one of the biggest timeshare mis-selling scandals in timeshare history.
Despite thousands of complaints from Club La Costa Fractional members, Shawbrook Bank tried to overturn the decision made by the Financial Ombudsman Service, who had already ruled that thousands of British consumers had been illegally mis-sold timeshare as an investment.
The decision is a costly embarrassment to Shawbrook Bank's consumer lending division, which provided over 200 million pounds in timeshare funding. The decision to provide finance for such a widely mis-sold product brings into question Shawbrook Banks' fundamental understanding of what was really happening at sales centres across Tenerife and Spain.
If, like many others, you want to reclaim your money, be awarded compensation and cancel your Shawbrook Finance, we can help. We already represent hundreds of victims who were mis-sold their CLC Fractional membership as an investment, and it's not too late to begin your claim.
Our claims process is easy. There are no upfront fees, and you only pay us if we win. Give us a quick call; we will assess your case and provide you with the necessary paperwork to start your Shawbrook timeshare claim.
