logo
We bought the retirement caravan of our dreams but it turned into a financial nightmare... now we're £150k out of pocket and working three jobs just to stay afloat

We bought the retirement caravan of our dreams but it turned into a financial nightmare... now we're £150k out of pocket and working three jobs just to stay afloat

Daily Mail​2 days ago
A British grandmother and grandfather claim to have been left £150,000 out of pocket after buying a 'nightmare' caravan purchase they say has 'ruined' their lives.
Lisa and Robert Colvin-Jones bought a caravan by the sea after downsizing their home, with the aim to make memories with their grandson and to rent it out when they are not there.
However, the purchase has turned into a financial nightmare for the pair, aged 55 and 56 respectively, with alleged hidden costs and other fees.
The couple say they have to work three jobs between them just to stay afloat.
They have only stayed in the caravan for three days in 2024 and not at all in 2025 - earning just £500 in rent across 32 weeks.
'We could not have known this would be the start of a financial nightmare that is still ruining our lives today,' Lisa said.
'Robert and I are forced to work three jobs between us because of the financial hole [this] has left us in.
'It is not where we wanted to be at this stage in our lives.
'What should have been a simple, peaceful family investment has instead turned into a huge financial loss with misleading information, hidden fees and false promises at every turn.
'Our trust has been completely betrayed. We feel trapped and hope that sharing our story will prevent others from falling into the same trap.'
The pair visited Sea Bay Resort park in West Sussex in September 2021.
Lisa, a full-time carer, from Sussex, was going through serious medical issues at the time of the purchase and having a relaxing family retreat seemed 'just the ticket'.
The salesperson showed them the 2019 ABI Ambleside caravan for £89,995.
They claim to have been reassured that it was a 'platinum' standard home - the highest earning rental classification - and when not using it themselves, they could potentially earn a significant income from it.
A £10,000 deposit was put down and the remainder was financed.
However, soon after they got the keys, the pair realised a veranda would be needed for the safety of Lisa's father, who suffers from COPD.
After finding a reputable contractor, who would do the job for £6,000, the couple claim to have been informed by Seal Bay that they were only allowed to use a 'park approved' contractor to the tune of £11,000.
Lisa said: 'We were also contractually bound to buy our gas bottles directly from the park at £105 per bottle. Elsewhere, the same bottle costs around £80.
'Electricity similarly has to be purchased from the park in fixed blocks with no transparency or control.
'We were not allowed to install cheaper, green options like solar panels.'
To help recover some costs, the pair tried to rent out the caravan but soon discovered that their supposed 'platinum' mobile home was actually 'gold plus' - meaning less rental rate and booking volume.
And when they did get renters in, their energy bills surged.
To add insult to injury, they were then hit with an increase in ground rent - despite allegedly being told that fees had remained consistent for years.
In 2023, another salesperson suggested upgrading to a caravan they could rent out more easily - and for more money - costing a further £25,000.
Lisa said: 'We were promised the new unit would generate £20,000 plus in annual rental income.
'[Obviously, we were] hesitant after our previous experiences but we felt like we had no other options.
'We were desperate.'
But, there was a hidden cost - it needed a larger pitch, increasing their ground rent from £6,500 to £7,500 per year.
There was also no path across the wet grass and to have one fitted, it would cost £899 for nine flat stones using the park's approved contractor.
Lisa and Robert, who works in IT and baggage handling at an airport, claim the slabs were already in place, but were removed for the caravan, meaning they had to pay to put them back.
The final straw came when they tried to sell the caravan back to the park, who could only offer them £24,100 - an 80 per cent loss.
Lisa added: 'Our grandson loved the caravan holidays we did have and we tried so hard to make it work.
'But the costs are just unworkable.
'When we did manage to rent out the caravan, the park held onto the money for months and there was little left over after the bills.
'We lose money every month.
'Other people who sold back to the park have told us that their caravans went straight back on the market for full value.
'We looked into selling privately but Seal Bay told us that if we didn't sell to them, then they would charge the new owners an extra £500 a year in ground rent - effectively making private sales impossible.
'Overall, we were given drastically unrealistic expectations around costs and rental income.'
Greg Wilson, CEO of European Consumer Claims (ECC), said: 'Sadly, the Colvin-Jones' experience are by no means unique.
'Misleading sales presentations are totally unacceptable when life changing amounts of money are involved.
'Inflated, hidden and monopolistic costs are reported right across the industry, and we at ECC are leading a nationwide call for the government to introduce legislation to protect people like Lisa and Robert.'
Jack Irvine, who represents Seal Bay Resort park, said: 'I would stress that Seal Bay as a matter of company policy tries to treat all clients in a fair and honest manner and the allegations are totally alien to everything we do.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Regulators warn firms over car finance compensation claims
Regulators warn firms over car finance compensation claims

Times

time20 minutes ago

  • Times

Regulators warn firms over car finance compensation claims

Consumers caught up in the motor finance scandal risk losing up to 30 per cent of redress by signing up to paid services they do not need, regulators have warned. In an intervention ahead of a major Supreme Court ruling on Friday, the Solicitors Regulation Authority and Financial Conduct Authority, which have become increasingly concerned, have warned law firms and claims management companies over poor practices in commission claims. The FCA has already required 224 promotions to be amended or withdrawn over the past year and the SRA has 89 investigations into 73 law firms over potential breaches of its rules relating to high-volume claims. • Rachel Reeves may overrule Supreme Court over car finance scandal The prospect of the motor finance industry being forced to pay out tens of billions of pounds in compensation to borrowers has led claims firms to gear up for a bonanza and hit the share price of some London-listed lenders. The FCA will confirm within six weeks of Friday's Supreme Court judgment whether it will propose to introduce a redress scheme for motor finance customers. The judgment follows a review of a landmark ruling in October by the Court of Appeal, which concluded that any type of commission that was not properly disclosed to a borrower was unlawful. The regulators said they expect law firms and claims management companies to inform clients of any redress scheme, or where there is a 'realistic prospect' of one being introduced, which would allow customers to instead pursue a claim independently and free of charge. They must also alert them to charges if they do use a firm and must be clear on exit fees. The regulators are concerned about the 'volume and accuracy' of marketing materials, a failure to advise consumers about free alternatives, and 'inaccurate or misleading' information on the likelihood of success or payouts. Sheree Howard, executive director at the FCA, said: 'We've seen law firms and CMCs [claims management companies] advertising highly speculative figures, so we are warning them of our expectations when it comes to drumming up clients for motor finance commission claims … If we introduce a redress scheme for motor finance, we will aim to make it easy for people to take part.' Paul Philip, chief executive of the SRA, said: 'Where we find cases where firms are not acting in the best interest of their clients, we will investigate and take action.'

Heathrow to announce third runway plans as PM unveils airport expansion
Heathrow to announce third runway plans as PM unveils airport expansion

Times

time32 minutes ago

  • Times

Heathrow to announce third runway plans as PM unveils airport expansion

Sir Keir Starmer is poised to usher in the biggest expansion of Britain's airports for half a century as Heathrow prepares to unveil plans for a third runway. The prime minister is prepared to do 'whatever it takes' to ensure there are 'spades in the ground' by 2030 at Heathrow and on other major aviation projects. The government is also expected to formally approve plans for a second runway at Gatwick in coming weeks and is pressing ahead with the biggest ever overhaul of Britain's airspace to enable quicker flights and fewer delays. Ministers are also introducing legislation to curb the ability of campaigners to use judicial reviews to block infrastructure projects. Starmer said earlier this year that he would 'override the whims of nimbies'. Starmer is pressing for airport expansion in a bid to galvanise economic growth. 'He'll do whatever it takes on this,' a senior government source said. 'He's up for the fight. He views aviation as a key driver of economic growth.' By the end of Thursday, Heathrow will submit its proposals for a third runway, which is expected to cost between £45 billion and £60 billion. The plans are expected to include diverting a section of the M25 through a tunnel running underneath the new runway. The plans have proved hugely contentious in the past. They were first mooted as far back as 2003 but have been subject to years of delays, political opposition and legal challenges amid concerns over air and noise pollution. Ministers had set a deadline of July 31 for plans for expansion to be submitted. The Times understands at least two other schemes have been presented to the government from rival developers. Heidi Alexander, the transport secretary, will review the submissions before a consultation on the airports national policy statement, the framework under which permission for a new runway can be granted. Only then can any full planning application be submitted. In January, Rachel Reeves, the chancellor, announced that the government wanted to push ahead with a third runway, arguing that sustainable aviation fuels were a 'game changer'. She said: 'The way that we fly has changed hugely in recent years. Engines have become so much more efficient, reducing carbon emissions, and also sustainable aviation fuel is changing the way that we fly. 'We want to see spades in the ground in this parliament. We have asked Heathrow to come forward with plans by this summer and then we want to grant that development consent order by the end of this parliament, so we can get the diggers in the ground to get this project up and running.' A third runway is expected to receive the backing of a majority of MPs if there is a vote in the Commons, although the issue is divisive. Sir Sadiq Khan, the mayor of London, is strongly opposed and has suggested he is prepared to mount a legal challenge. Heathrow is expected to seek assurances from the government if it is to push ahead with the scheme and the investment required. Ministers are preparing to announce the creation of an Airspace Design Service, which will redraw the corridors planes use. It will be the biggest overhaul since their creation in the 1950s, when there were only about 200,000 flights a year, compared with 2.7 million last year. It will change the routes planes must take when flying in an attempt to increase efficiency and reduce air traffic control delays. Pilots routinely complain about the routing they must take when arriving at London-area airports, saying it adds ­unnecessary time to flights. A plane flying from Spain to Luton is often required to travel as far north as Cambridge only to turn around and head south for its ­approach. Similarly, flights from the US are regularly stacked east of London before turning back to land at Heathrow. The redesign of Britain's air space is integral to dealing with the additional traffic that would be caused by a third runway at Heathrow. The new runway would allow the west London airport to handle 276,000 new flights annually, taking the total to 756,000 a year, and 66 million more passengers. Starmer is also planning to curb the ability of environmental groups and other campaigners to bring legal challenges. The prime minister said earlier this year that the courts were being 'abused by pressure groups' to block vital projects. Under changes due to take effect later this year, campaign groups and local residents will be given a maximum of two chances to apply for judicial review of nationally significant projects, down from three. Challenges deemed by a High Court judge to be 'totally without merit' will be refused permission to appeal. The government is also expected to give its formal approval to bring Gatwick's second 'emergency' runway into regular use in coming weeks, provided there is a compromise on noise and public transport. Alexander said earlier this year she was 'minded to approve' the runway. She is expected to give it the final green light in the autumn.

Arm shares drop as outlook disappoints; company looks to invest to make own chips
Arm shares drop as outlook disappoints; company looks to invest to make own chips

Reuters

time38 minutes ago

  • Reuters

Arm shares drop as outlook disappoints; company looks to invest to make own chips

July 30 (Reuters) - Arm Holdings shares tumbled 8% in extended trading on Wednesday, after the chip tech provider issued quarterly forecasts that disappointed investors, in part because of its plans to invest a portion of its profit into building its own chips and other components. The company forecast fiscal second-quarter profit slightly below estimates as global trade tensions threaten to hit demand for Arm in its mainstay smartphone market, failing to satisfy investors who have sent the stock surging in recent months. The plan to invest more heavily in developing its own chips marks a departure from Arm's long-time business of supplying intellectual property to companies ranging from Nvidia (NVDA.O), opens new tab to (AMZN.O), opens new tab, which already design their own chips. Finished chips are the "physical embodiment" of a product Arm already sells called Compute Sub Systems (CSS), Arm CEO Rene Haas said. "We are consciously deciding to invest more heavily - (in) the possibility of going beyond (designs) and building something, building chiplets or even possible solutions," Haas said in an interview with Reuters. Chiplets are smaller, function-specific versions of a larger chip that designers can use as building blocks to form a complete processor. Solutions integrate hardware and software. The decision to increase its investments in potential chips, chiplets and solutions may not result in a product if Arm decides to halt development or pause various projects, the company said. If the company opts to make a full chip, it will eat into the company's profit and is no guarantee of success. Advanced AI chips cost upwards of $500 million for the silicon alone and potentially more for the server hardware and software necessary to support it. To build up the necessary staff to make chiplets and other finished chips, Arm has been recruiting from its customers and competing against them for deals. Haas declined to provide a timeframe in which the company's investments in the new strategy would translate into profit, or give specifics about potential new products that are part of the initiative. But he said that Arm would look at chiplets, "a physical chip, a board, a system, all of the above." For years, the SoftBank Group -owned Arm has embarked on an ambitious campaign to expand its revenue and boost its profit through a combination of new, higher-margin products such as the CSS tech and boosting the royalties it collects on each chip. Details of discussions among Arm executives about making its own chips emerged during a trial in December. The decision to build its own chip could bring Arm into direct competition with its customers such as Nvidia (NVDA.O), opens new tab, who rely on the company's intellectual property. Arm's chip technology powers nearly every smartphone in the world, and its tame forecast underscores uncertainty faced by global manufacturers and their suppliers resulting from U.S. President Donald Trump's tariff policies. UK-based Arm forecast adjusted per-share profit between 29 cents and 37 cents for the fiscal second quarter, the midpoint of which is below analysts' average estimate of 36 cents per share, according to LSEG data. "Results and outlook were light and below expectations," said Summit Insights analyst Kinngai Chan. Arm has surged around 150% since its stock market debut in 2023, and its shares recently traded at over 80 times expected earnings, far higher than the PE valuations of Nvidia, Advanced Micro and other chipmakers focused on AI. Smartphones remain Arm's biggest stronghold. Morningstar analysts expect Arm to continue as the dominant architecture provider in smartphone processors, where it has a 99% market share. Global trade tensions, however, cloud the outlook for the market. Uncertainty fueled by tariff volatility and ongoing macroeconomic challenges has tapered end-market demand, with global smartphone shipments increasing just 1% in the April-to-June period, according to International Data Corporation. Arm expects current-quarter revenue between $1.01 billion and $1.11 billion, in line with estimates of $1.06 billion. The company reported first-quarter sales of $1.05 billion, coming in just shy of estimates of $1.06 billion. Adjusted profit of 35 cents per share was in line with estimates. "Smartphone royalties (call it 'Android on a low‑carb diet') remain soft, especially in China, but cloud‑server and AI accelerator design wins keep the (next generation Arm tech) royalty treadmill humming," Running Point Capital chief investment officer Michael Schulman said.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store