Banks Face Payouts for Failed Timeshare Loans that Fleeced Britons of £50k Over 30 Years

• Thousands of Britons bought timeshares over past 30 years, paying on average £20k upfront plus £1k annual fees

• Banks provided loans at 9-10% interest to buy timeshares, meaning total cost could exceed £50k

• Many owners unable to book stays at properties or faced issues like rising annual fees

• High Court ruled in 2022 that banks breached rules by not informing of risks

• Banks now assessing compensation claims on case-by-case basis, but many victims still waiting for payouts 9 months later