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Would I be correct to presume that they contacted you rather than vice versa please?
Yes, they contacted us.
Thanks. The transaction would be covered by s75 Consumer Credit Act. However I must caution you to strongly consider not making payment in these circumstances.
Based on what you say this request has all the hallmarks of a scam. Insurance bonds which are genuinely used in some transactions (though not legitimate timeshare transactions) do not return the premium after the transaction. If they did insurance companies would make no money. This appears to have the hallmarks of an advance fee fraud and is nothing unusual in the timeshare world.
Legitimate timeshare brokers do not ask for advance fees. Whilst 275 applies it should not be seen as a guarantee of a refund. It is a legal right much the bank will typically resist and you must litigate or go through the ombudsman to seek redress. Litigation is by definition never certain an it may take some while to resolve during which time you will be out of pocket. If the matter goes against you for any reason you will not recover a refund.
Timeshares are very difficult to shift which is what such companies pray on. If you wish to attempt a sale of your timeshare consider using an honest resale broker. Though I cannot personally recommend them those that have what I understand is a good reputation are as follows:
You may wish to at the least consider contacting them before you make a final decision and my recommendation is to treat the above offer with extreme caution at the very least.
Is there anything above I can clarify for you?