BWML 3 Year Mooring Contract

[The Hunky Dory]

Just had an email from my local BWML office (Hull, although I moor at Lemonroyd), offering a 3 year fixed price mooring contract, at 17.5% VAT if I pay this year. They'll cancel my existing contract with full pro-rata refund. If I cancel within the 3 years there's a £500 penalty. My question is, why are they doing it - are they short of capital?

 

Sounds a decent deal if I'm going to stay here for 3 years - decisions, decisions.

[Barry]

They are offering a similar deal at Sawley with a 10% discount if you take it up before February I think

[GUMPY]

The marina where I keep the Yot has just offered me 12 months at the old VAT rate if paid before January. Mooring not due till april, they did the same last year at 15%

[Allan(nb Albert)]

Just had an email from my local BWML office (Hull, although I moor at Lemonroyd), offering a 3 year fixed price mooring contract, at 17.5% VAT if I pay this year. They'll cancel my existing contract with full pro-rata refund. If I cancel within the 3 years there's a £500 penalty. My question is, why are they doing it - are they short of capital?

 

Sounds a decent deal if I'm going to stay here for 3 years - decisions, decisions.

 

There are three deals on offer.

 

I would suggest current moorers read this and phone the number at the bottom of the article. It may also be worth having a look on BWML's website but when the article was written no info on the three deals was available there.

 

The problem is that over the last two years occupancy rates have dropped from 90% to 80% at BWML marinas. Simon Salem also let slip in the Waterways World online debate that after years of rises the number of licenced boats is static.

 

****** Edited to add link to One in five berths empty article

Edited November 13, 2010 by Allan(nb Albert)

[Midnight]

"Why are they doing it?"

 

I suspect because of the complaints they received after they tried to "hide" from existing berth holders the 10% reduction with nothing to pay until February offer to new moorers.

 

If you think this is a good deal think again!

 

It's already been reported elsewhere that BWML are not intending to increase fees next year. It's a falling market with a big squeeze coming for everybody. Mooring fees are very likely to decrease over the next 3 years. Will you get a refund if their fees drop or if the new body decides or is forced to sell off BWML's assets?

 

I have a berth at Ripon where there is very little competition but even here there are many boaters joining boat clubs or just moving off to less expensive moorings further south.

 

What really sticks in my crop is that BWML seem to be only offering to hold current fees for existing berth holders - no 10% reduction for us! And this set against promises over the past 5 years of a loyalty discount scheme for long term customers - some loyalty bonus this!

 

BWML are a disgrace, their maintenance is a joke and their management lightweight.

Edited November 15, 2010 by Midnight

[jenlyn]

i wouldnt do anything long term with them, things are going to change dramaticaly over the next two years, and they know it. thats why they want to tie you in