Ultiqa Lifestyle timeshare loan refunds

Can you get a refund of your timeshare loan?

Future Holiday Finance will refund up to $3 million because ASIC found that they signed people up to loans when they attended Ultiqa Lifestyle timeshare sales seminars, without first assessing if they could afford the loans or if the loans were right for them. 

If you took out a loan with Future Holiday Finance between 1 July 2012 and 30 August 2018 to buy into the Ultiqa Lifestyle timeshare scheme, you can ask to have your loan reviewed. If Future Holiday Finance assesses that the loan was not suitable, they will cancel the loan and refund all the money paid for the loan.

Here we explain if you are entitled to a refund on your loan and how you can claim it.

Can I get a refund of my loan with Future Holiday Finance?

If you took out a loan with Future Holiday Finance between 1 July 2012 and 30 August 2018, you can contact them to have your loan reviewed. You can request a review even if your loan was cancelled or you have paid it off.

If the review shows that your loan is not suitable for you, you will be refunded all money you paid under the loan. Future Holiday Finance will also cancel your loan and you will not need to pay the remaining balance.

If any default listings were recorded by Future Holiday Finance, they will be removed from your credit report.

To request a review of your loan, you can contact Future Holiday Finance by:

Will a refund affect my Ultiqa Lifestyle membership?

Any review, loan cancellation or refund will not affect your Ultiqa Lifestyle membership. You will still need to pay any fees you owe to Ultiqa Lifestyle.

What information do I need to provide to Future Holiday Finance?

You may need to provide Future Holiday Finance with payslips, bank account statements or copies of other credit contracts or bills so they can assess whether the loan is suitable for you. 

What if I'm unhappy with the review of my loan?

If you are not happy with Future Holiday Finance's review, you can complain to them.

Visit our webpage for tips on how to complain.

If you're not happy with Future Holiday Finance's response, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA).

If you're unhappy about the service you are receiving or you aren't sure whether something is illegal, don't be afraid to complain. 

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Last updated: 17 Jan 2020