a day ago
'Investing in caravan in Lancashire left massive hole in finances'
A couple who bought a caravan under the belief it was a safe investment said they had been left with a "massive hole in their finances" after selling it on for much less and Lindsey Kitching purchased the caravan at Ribble Valley Country and Leisure Park in Lancashire for £38,000 in they said they had no choice but to sell their holiday home three years later at a loss of £28,000 due to various factors including rising site site owners, Park Holidays UK, said they remained proud of the park's "reputation for creating high-quality and friendly environments for people to spend their leisure time" and the homes were "intended as long-term purchases".
The couple shared their story following a BBC investigation that revealed how people had lost their life savings, inheritance and pensions when the holiday homes they had bought lost and Mrs Kitching, who have two children and live in Warrington, Cheshire, said they had spent years saving their money to buy the caravan. "I had an illness, so it stopped me travelling abroad so much so we thought 'we'll invest in a bit of a holiday home'," said Mrs Kitching."It was very easy [to buy it]. They were talking like it was an investment. "You weren't spending your money, you were investing it."
But after a few years, partly due to rising site fees, the family decided to sell the couple said the annual site fee was £4,800 when they bought the caravan, and it had raised to £5,600 by the time they sold it."Prices were rising, but things were getting taken away from the park like the children's indoor play area" said Mrs Kitching. "We thought this isn't for us any more. We're not getting the use of the caravan, we can't rent it out."Privately renting out the caravan to other holidaymakers was disallowed, as stated in the contract when they bought it. Mr Kitching said there were only two options left."[The park] bought it off us, which they weren't willing to do."A second option was for us to sell it privately ourselves, which [the park] still got 15 per cent of the sale."The couple said they could only sell the caravan for £10,000 - a loss of £28,000 plus the 15% commission.
"It's left a massive hole in our finances," said Mrs Kitching. "That was all we had, we'd saved up everything."I would say it was one of the most stressful things that we've ever had to endure."A spokesperson for Park Holidays UK said a 15 per cent commission on sales was standard across the industry and the homes were "intended as long-term purchases".It comes as members of the Holiday Park Action Group (HPAG) are seeking compensation for what they say were unfair increases in annual pitch fees and misleading claims about the value of static caravans at the time of purchase.
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