Sunday, 08 March 2015 08:00

Spanish Court Judgement Goes Against Anfi Timeshare Resort

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Anfi del Mar timeshare resort Anfi del Mar timeshare resort

A Spanish Supreme Court judgement against Anfi del Mar could have huge repercussions for the resort and for all timeshare in Gran Canaria.

The Court ruled in favour of a Norwegian national who argued that the "in perpetuity" clause of her timeshare contract with Anfi was illegal according to EU law.

The basic issue at stake was whether Anfi could sell time share in perpetuity after EU law banned the practice in 1998. Anfi argued that timeshare units in buildings created before the 1998 law were exempt. The court ruled that they aren't.

The ruling, which currently covers just the one case, could mean that all "in perpetuity" timeshare deals sold by Anfi del Mar since 1998 are illegal and therefore invalid. The company, owned by Bjorn Lyng's family and local firm Santiago Cazorla, could be facing lots of court cases and a big legal and compensation bills.

EU law states that timeshares can only be sold for a period of between 3 and 50 years.

If the ruling holds it will also affect any other timeshare resort that sold "in perpetuity" after 1998.

Alex Says: This ruling has now been confirmed by the Spanish Supreme court and the owner got her money back in May, 2016. 

For more on Spanish timeshare law and how lots of timeshare owners are getting their illegal contracts annulled and their money returned, read our FAQ.

Read 44693 times Last modified on Saturday, 28 May 2016 19:41
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  • Exchange Money In Gran Canaria Or At Home?
    Exchange Money In Gran Canaria Or At Home?

    Visitors to Gran Canaria often ask whether it is better to exchange their local currency for euros at home or in Gran Canaria. 

    The answer is that it is almost always better to buy your euros at home than it is to bring pounds to Gran Canaria and use local banks or currency exchanges. This rule of thumb applies all over the world. A currency is almost always cheaper the further away you are from the place you can spend it (because demand for it is lower). 

    Exchange rates are almost always better at home than in Gran Canaria

    You are very likely to get a better exchange rate using a British currency exchange specialist or local bank. Many of these companies will deliver your euros to your home.

    One of the best rates in the UK is often from the post office, especially if you do it well in advance.

    The only way you'll get a better rate in Gran Canaria than at home is if the exchange rate changes while you are travelling and this is rare. 

    You also have to bear in mind that currency exchanges in Gran Canaria are getting rarer and some local banks don't exchange money for non-clients. 

    To Transfer large amouynts of money to Gran Canaria, or to make regular transfers, always use a reputable currency broker such as Currencies Direct. This will save you money on exchange rates and bank charges and is highky secure. 

    The risk of bringing cash to Gran Canaria

    Another important factor to consider is the risk of bringing cash to Gran Canaria: If it is lost or stolen, there is no way of getting it back. 

    It is much safer to bring a debit or credit card and use local bank ATMs to take out money. These days, a good option is a pre-charged debit card. 

    Cards may be slightly more expensive that carrying cash, unless you seek out a bank card with low commissions, but it is much more secure. 

    Bank ATMs like Bankia, Santander and BBVA often charge lower rates than the ATMs in shopping centres and busy tourist areas.

    Alex Says: Always select the Euro option at ATMs in Gran Canaria because the exchange rate is much better than if you opt for the Local Currency option. The same applies when you pay by card in shops and restaurants.

    See our Gran Canaria Tips section for more nuggets of useful local information.

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