After a long review process, Barclays has agreed to compensate consumers that took out loans to purchase timeshare from the Azure businesses based in Malta. It had previously agreed to compensate nearly 1,500 owners in a case that concerned a period where it was decided that there had been unauthorised selling of loans by an Azure subsidiary between 2014 & 2016.
The cases have been ongoing for some years, exacerbated by the insolvency of the Azure businesses. Barclays say they have taken this decision based on a review of complaints made to it concerning factors beyond the original unauthorised arranging of loans issue – and will be proactively contacting both those customers that have raised concerns already and others that have not done so, in order to ascertain if they wished to file similar complaints.
Warning re approaches by claims businesses
Barclays made clear that the necessary processes are taking place and contact will be made with all customers that took out a Barclays Premier Finance loan to purchase an Azure timeshare, stating this would take place “in the latter part of 2022.” They warned customers to be on their guard against people offering claims services and charging unnecessary fees. This is sound advice, since timeshare owners have been pestered continuously by rogue businesses making cold calls and sending unsolicited texts and emails to try and convince them to pay large fees for services that are often unnecessary and in many cases are simply outright scams. Many Azure owners have been approached in this way, but the problems go way beyond just Azure in this regard.
If you are an affected Azure owner, then the advice is to wait until the second half of the year for Barclays to make contact – although you can check with Barclays in the meantime to ensure they have your details.
If you are an owner with another timeshare company or resort, we advise extreme caution about approaches from purported claims and exit businesses. We have published advice on how owners can help protect themselves from claims and exit scams. This also provides links to resources offering additional advice.