HOLIDAYMAKERS are being warned of a new kind of timeshare that people are being sold in top destinations such as Spain.

Called “fractional ownership resorts”, the incentive is pitched as “more than a holiday home” and as an investment into the resort itself.

Marianne Johns, of timeshare legal experts Lemon & Co Solicitors, based in Regent Circus, said consumers should not sign anything until the terms of agreement have been verified by an expert.

“The problem with this scheme is that current UK legislation does not cover these types of timeshare,” she said.

“This means that protection may not be available if you later wish to avoid the terms of the agreements entered into once you find out you have not bought what you thought you had.

“One of the ways that consumers have been trapped over the years is through purchasing products and deals that are not protected by current legislation – so although it is likely this will come into force in the coming 12 months, consumers should remember they would have no come back if things go wrong.”