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Mike J
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14-08-2006 10:57 AM
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Joined: 07 Sep 2005
Posts: 7
| I have recenty been contacted, (cold called), by a firm called Yacht Traders with a view to selling my time share. They came back to me with an offer of £10,000 for my 2 weeks at Hollywood Mirage. The sales pitch is the same as HAB and ILG. (see previous postings). They have a buyer, a credit check has been done and the buyer will put down a 10% deposit. Now here's the catch, They want £495 for admin and legal fees. (Just like HAB). They say they can't proceed till it is paid. I said they can pay it up front and take it out of the proceeds. They say that's not legal. This just sounds like another scam so I am going to tell them NO THANKS. It would be nice to think some idiot would pay £10,000 for the 2 weeks but we all know that you can open up any paper and see timeshare weeks for £1,000 and that's only if you are very lucky. I mentiioned this to the "SALESPERSON" and the reply was that those were clawback weeks. So why don't the clients buy these? Guess what "No reasonable answer" surprise, surprise!!! Has anyone else heard of these people??
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Fred 2
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14-08-2006 02:01 PM
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Joined: 30 Apr 2005
Posts: 1638
My Profile
| Copied from Timesharetalk - "Yacht Trader - Selling your Timeshare" thread -
"The Yacht Trader is yet another scam of the poisonous dwarf, TONI MULDOON. He runs this alongside T-One Ltd, T1-online.net, Med Leisure, Liquid Properties."
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paulx
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16-08-2006 03:20 PM
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Joined: 16 Aug 2006
Posts: 1
| Yet another scam typified by the small print on the back of the form they send. This is to the effect that in the event of there being a buyer then I would have to part with £495 + VAT in advance of payment etc etc blah blah blah ........ heard it all before. Then surprise suprise a 'corporate buyer' is prepared to offer £7,900 for my two weeks - yeah right! If he does pull out for some unforseen reason (and he will, despite the assurances) I wont get my money back but I will be entitled to a year's free marketing and my money back if I do not receive another suitable offer (sound familiar? Yes, just like HAB and the rest!) Steer well clear and dont be fooled by this; when I said 'no' to the caller she was distinctly off and said it was my loss etc. and that tey would take it off the website. Wonder how they got my telephone number in the first place? :thumbdow: oh one other thing - what's different about this company (nothing of course) but they say that they are based in the UK as opposed to those dispicable scammers in Spain, Gibralter etc. So that makes it ok then ......! :icon_grrs
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Silvagal
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17-08-2006 05:00 PM
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Joined: 17 Aug 2006
Posts: 2
| Silvagal
Further to the experience of Mike J. We were planning to sell our 2 timeshare weeks when we were cold called by a very personable lady from Yacht Traders. We put one of our weeks up for sale, as she convinced us that she represented a genuine UK company and she emailed us the details. She increased the asking price, which surprised us. I had recently spent quite a while in hospital and was not as probing, perhaps, as I would usually be.
After quite a short while, we were informed that a buyer had placed a deposit and would complete in 13 weeks time. We wondered why this "eager" buyer was willing to wait 13 weeks, however, we paid the £495 legal fees and were told that a courier would collect the paperwork, when the deal was done.
A few weeks later, we were contacted again with a form to fill in, giving our bank account details "as this would be the quickest and safest way to transfer the money to us" I reminded her that she was a stranger, who had cold called us and that I was not willing to reveal these details, prefering to be paid by cheque.
I rang after 12 weeks to enquire about the sale and was told that it was not 13 weeks yet so nothing was finalised. A few days later, I received an apologetic e mail explaining that the sale could not be completed "for reasons beyond their control". The Timeshare would be kept on their books and advertised vigorously through their associated companies.
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Silvagal
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17-08-2006 05:03 PM
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Joined: 17 Aug 2006
Posts: 2
| Silvagal
Further to the experience of Mike J. We were planning to sell our 2 timeshare weeks when we were cold called by a very personable lady from Yacht Traders. We put one of our weeks up for sale, as she convinced us that she represented a genuine UK company and she emailed us the details. She increased the asking price, which surprised us. I had recently spent quite a while in hospital and was not as probing, perhaps, as I would usually be.
After quite a short while, we were informed that a buyer had placed a deposit and would complete in 13 weeks time. We wondered why this "eager" buyer was willing to wait 13 weeks, however, we paid the £495 legal fees and were told that a courier would collect the paperwork, when the deal was done.
A few weeks later, we were contacted again with a form to fill in, giving our bank account details "as this would be the quickest and safest way to transfer the money to us" I reminded her that she was a stranger, who had cold called us and that I was not willing to reveal these details, prefering to be paid by cheque.
I rang after 12 weeks to enquire about the sale and was told that it was not 13 weeks yet so nothing was finalised. A few days later, I received an apologetic e mail explaining that the sale could not be completed "for reasons beyond their control". The Timeshare would be kept on their books and advertised vigorously through their associated companies.[/QUOTE]
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Starsky
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03-09-2007 08:40 PM
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Joined: 03 Sep 2007
Posts: 1
| Has anyone succeeded in contacting this dodgy outfit recently. Phone numbers for "offices" in London and Manchester have gone dead and e-mails go unanawered.
I have rather written off my £495 but would like the satsfaction of giving someone a piece of my mind on the subject!
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Fred 2
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03-09-2007 08:54 PM
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Joined: 30 Apr 2005
Posts: 1638
My Profile
| Listed for striking off, but there is information about them and the new company which is now doing the same thing. Would you like to e-mail fred-too@hotmail.com?
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orville
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23-11-2007 07:43 PM
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Joined: 23 Nov 2007
Posts: 5
| Derek I did part with the administration fees unfortunately. I was offered a subscription with another company Full Circle Holidays as they could not sell my timeshare within the year. I also have another letter which i am going to send Yacht Traders a copy off, saying if they have not sold my timeshare within the next twelve months then I can have my fees back. This is dated Nov 2006. If I here nothing from them I will get on to my credity card company and see if I can get the fees back through them..
Another small incident in case anyone has had the same, a television set was bought from Currys using our Credit card details. The buyer was a Mr Yacht trader. When I phoned the office in London(yes someone did reply) they said that they had a break in and credit card details had been stolen. My bank refunded the money to my account but I never heard a thing more from Yacht Traders maybe another scam to watch out for!
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Fred 2
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23-11-2007 09:28 PM
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Joined: 30 Apr 2005
Posts: 1638
My Profile
| Orville
When is your contract with Yacht Traders dated? Can you confirm that it is with Yacht Traders and not Yacht Trading (UK) Limited?
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orville
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25-11-2007 10:18 AM
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Joined: 23 Nov 2007
Posts: 5
| orville
The letter confirming that i will have a reimbursment in 12 months time comes from Yacht Trading UK Ltd. The sentence I am looking at states "If no sale has been acheived within this time scale (i.e.12 months) then as per our agreement, a refund of your legal and administration fees will be issued." this is signed Derek Freeman.
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orville
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25-11-2007 10:23 AM
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Joined: 23 Nov 2007
Posts: 5
| Fred 2 I have looked deeper into the titles on the letter headings. The yacht trader appears on the original contract BUT the account it was paid into is titled Yatch Trading (UK) ltd any help to you!
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Fred 2
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25-11-2007 05:16 PM
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Joined: 30 Apr 2005
Posts: 1638
My Profile
| That's what they did - you contracted with one, but paid the other - and probably did not realise that this was significant until later. They used the same trick with another of their pairs of companies. Yacht Trader is listed for striking off and Yacht Trading (UK) seems to be live, just.
Google on "toni muldoon" (in quotes) then go to the item headed "Met must act..." - T-One and Yacht Trader/ Yacht Trading are in common ownership.
Could you confirm the date of the Yacht Trader contract? I think that these people have broken company law.
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orville
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28-11-2007 08:07 PM
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Joined: 23 Nov 2007
Posts: 5
| Fred 2
The original date on the contract was August 25 2006, this is the date I paid my fees. November 21 was the date on the letter that said ' the purchaser has unfortunately not been able to complete the purchase as per our requirements'.
This letter has the heading Yacht Trading UK Ltd. It states that If no sale has been achieved within this time scale (12 Months) then as per our agreement, a refund of your legal and administration fees will be issued.
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Fred 2
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28-11-2007 08:59 PM
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Joined: 30 Apr 2005
Posts: 1638
My Profile
| You were therefore due a refund last August. Yacht Trading (UK) Limited is late with (and probably doesn't intend to file) its Annual Return and accounts - no doubt hoping that it will be struck off quietly.
You could try sending a letter by recorded delivery to YACHT TRADING UK LIMITED 360 BRANT ROAD LINCOLN LINCOLNSHIRE LN5 9AJ which is the Registered Office, enclosing a copy of their letter of last November promising your money back and requesting a refund within seven days. I don't hold out much hope, but you may just be lucky.
As your contract with Yacht Trader was dated August 2006 and was to run until August this year then it would certainly seem to be the case that the directors of Yacht Trader were breaking the law when they applied in January 2007 to have the company struck off. They certified that during the preceding three months they had not "traded or otherwise carried on business" which is clearly untrue.
Would you be prepared to make an official complaint on those lines?
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orville
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03-12-2007 05:32 PM
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Joined: 23 Nov 2007
Posts: 5
| fred 2
I will do as you suggest and send a letter to the Lincoln office and see what transpires
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palmtree
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21-12-2007 03:55 PM
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Joined: 12 Dec 2007
Posts: 5
| Hi. I'm researching the general topic of timeshare for a current affairs film. Does anyone want to share their experiences? You can e-mail me in confidence at karen.jackson@bbc.co.uk
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beepbeep
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21-12-2007 06:11 PM
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Joined: 21 Dec 2007
Posts: 45
My Profile
| If you paid by credit card, send a copy of your contract to the cc company and request they claw back your deposit.
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beepbeep
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21-12-2007 06:13 PM
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Joined: 21 Dec 2007
Posts: 45
My Profile
| If you paid by credit card, send a copy of your contract to the cc company and request they claw back your deposit.
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beepbeep
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21-12-2007 06:14 PM
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Joined: 21 Dec 2007
Posts: 45
My Profile
| I forgot to say this worked for me. I did stay with the same cc company for the year to ensure I could utilise the protection if it was needed.
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miner
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24-03-2008 12:58 PM
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Joined: 24 Mar 2008
Posts: 2
| MINER
JOINED
24 MAR 2008 contacted by Yatch Traders 21/06/2006 derek freeman to sell timeshare cost to us £581.63 which we paid. Guarantee sale in 12mths letter dated 17/08/2006. Next letter dated 31/10/2006 from Yacht Trading UK Ltd saying purchaser unable to complete purchase, now we are placed on high priority list if no sale in 12mths a refund of legal and admin charges will be refunded. What a laugh we have tried nearly every day to get through on phone no answer, and no sign of refund or sale of time share. Looks like we have been seen off.
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