The sales presentations are a distant memory but still hurt. It was only later that you understood the lies and deceit. The finance may have been repaid years ago. The paperwork is long since put away. But there remain ways to seek to redress the mis-selling. 

Despite the fraud many fractional owners remain members of their schemes today and continue to pay annual management or maintenance fees.

That is why many are surprised to learn that the passage of time, or the fact that a loan has been repaid, does not necessarily mean they have lost their legal rights.

We regularly speak to people who purchased fractional ownership products ten or fifteen years ago and assume nothing can be done because the purchase took place so long ago. Some have not looked at their documents for years. Others only start questioning what they were told after reading about similar claims or speaking to other owners.

Their reaction is often the same:

“Surely it’s too late to do anything now?”

The answer is not always as straightforward as people might think.

Why Are Owners Asking Questions Now?

Many fractional ownership products were marketed as something more than a traditional holiday product. Buyers may have been told they were acquiring an interest in a luxury property, a valuable lifestyle asset, or even an investment for themselves and their family.

It is often only years later that owners revisit those expectations. Some discover that selling their interest is far harder than anticipated, if not impossible. Others question whether the product delivered the benefits they believed they were buying. Many continue to pay substantial annual fees despite having repaid the finance years ago.

Timing is also bringing these issues into sharper focus. Some fractional ownership schemes were structured to run for a fixed term, after which the property would be sold and the proceeds distributed among members. Owners reaching the end of that period may now be looking more closely at what they were originally told and what is due to happen next.

Why Does the Finance Matter?

Many fractional ownership purchases were funded through finance arranged or recommended during the sales process.

While owners often focus on the developer or resort, the finance agreement can be equally important. In some circumstances, the lender may also have legal responsibilities arising from the transaction.

That is why lawyers investigating potential claims will often ask:

• Was the purchase funded by a loan?
• Which lender was involved?
• Were there later upgrades or additional purchases?
• When did the finance agreement end?
• Were multiple finance agreements taken out over time?

The answers can be important when assessing whether there may be a claim and whether it has been brought in time.

Is It Too Late to Bring a Claim?

Many people assume that because they purchased their fractional ownership years ago, it must now be too late to bring a claim. That is not necessarily the case.

The relevant time limits can depend on how the matter is pursued.

A complaint to the Financial Ombudsman Service is generally subject to a six-year period from the event complained of or, if later, three years from when the complainant became aware, or ought reasonably to have become aware, that they had cause for complaint. 

The High Court has recently confirmed in R (Barclays Bank UK plc and others) v Financial Ombudsman Service Ltd [2026] EWHC 1555 that the Ombudsman cannot bring the whole history of a credit relationship within its jurisdiction simply because alleged unfairness has not been corrected or because the credit relationship continues.

A court claim concerning an unfair credit relationship under section 140B of the Consumer Credit Act 1974 is different. In Smith and another v Royal Bank of Scotland plc [2023] UKSC 34, the Supreme Court held that a claim for a remedial order can be brought while the credit relationship continues, and that the six-year limitation period begins only once that relationship ends.

This means that an older complaint may face time-limit difficulties before the Financial Ombudsman Service but may still potentially be capable of being pursued through the courts.

The original purchase date is therefore not necessarily the end of the story. The finance arrangements and, importantly, when the credit relationship ended may also need to be considered.

Don’t Assume the Door Has Closed

Not every owner will have a claim, and not every historic claim will still be in time. However, the courts and the Financial Ombudsman Service operate under different time-limit rules.

Owners should therefore not assume that an older purchase, or difficulties pursuing a complaint through the Financial Ombudsman Service, necessarily mean that there is no other route available.

If you purchased a fractional ownership product using finance, made one or more upgrades, or have concerns about what you were told at the time of sale, it may be worth obtaining advice before assuming that nothing can be done.

Could You Still Have a Claim?

Every case is different, but an initial review can help establish whether there may be grounds for a claim and whether the relevant time limits are likely to present an issue.

If you would like to discuss your circumstances or understand the options available to you, our team would be happy to have a confidential, no-obligation conversation with you.