I was just contemplating a second Lakes District exchange, googled Windermere and found this - anyone know about this and if so, maybe risky to trade into until resolved?
www.thewestmorlandgazette.co.uk/new...essure_threatens_Windermere_timeshare_owners/
Mounting financial pressure threatens Windermere timeshare owners
2:59pm Tuesday 29th July 2008
By Lizzie Anderson »
TIMESHARE owners in Windermere may have to give up their holiday cottage rights, as spiralling maintenance costs and overall living expenses turn their relaxing retreat into a financial nightmare.
For more than 20 years, members of Windermere Marina Timeshare Owners Club Committee (WMTOCC) have enjoyed regular holidays at Windermere Marina Village –a popular holiday resort and marina that comprises of cottages owned by WMV, privately owned properties and those that are operated under a timeshare scheme.
However, due to the current economic climate, the increasing maturity of its members and a general decline in timeshare ownership, causing the value of timeshare certificates to plummet, WMTOCC has been left facing mounting debts and possible legal action.
John Gearing, the newly elected chairman of the committee who has owned a timeshare at the resort for four years, explained that the “economic constraints” may very well lead to the collapse of the club, leaving the members with no rights over the cottages and no financial compensation.
For a full report see The Westmorland Gazette.
www.thewestmorlandgazette.co.uk/new...essure_threatens_Windermere_timeshare_owners/
Mounting financial pressure threatens Windermere timeshare owners
2:59pm Tuesday 29th July 2008
By Lizzie Anderson »
TIMESHARE owners in Windermere may have to give up their holiday cottage rights, as spiralling maintenance costs and overall living expenses turn their relaxing retreat into a financial nightmare.
For more than 20 years, members of Windermere Marina Timeshare Owners Club Committee (WMTOCC) have enjoyed regular holidays at Windermere Marina Village –a popular holiday resort and marina that comprises of cottages owned by WMV, privately owned properties and those that are operated under a timeshare scheme.
However, due to the current economic climate, the increasing maturity of its members and a general decline in timeshare ownership, causing the value of timeshare certificates to plummet, WMTOCC has been left facing mounting debts and possible legal action.
John Gearing, the newly elected chairman of the committee who has owned a timeshare at the resort for four years, explained that the “economic constraints” may very well lead to the collapse of the club, leaving the members with no rights over the cottages and no financial compensation.
For a full report see The Westmorland Gazette.