Even having a contract things can go wrong !

People who lent a motor home rental business money are facing big losses after it collapsed owing more than £7m.

UnbeatableHire Limited used the loans to buy more motor homes, promising to give lenders all of their money back and returns of up to 10% a year.

But many lenders are out of pocket after the company went into administration and numerous motor homes were said to be missing.

Its boss has denied doing anything deliberately wrong.

UnbeatableHire Limited made its money by renting motor homes to holidaymakers.

It traded under various names, including Motorholme, with depots across England and Scotland.

People were invited to lend the company up to £36,000 a time, with each loan secured against an individual motor home that would be bought with their money.

The lenders were told if anything went wrong, they could always claim the motor home, with their right to it listed in a legal document called a chattel mortgage, which was filed at Companies House.

Leave a Reply

Your email address will not be published. Required fields are marked *