IT was his only home and contained all his lifelong possessions.

But less than 24 hours after sailing from Southampton for a new life in Spain, Kevin Payne lost everything he owned when his vessel was caught in a ferocious storm.

The 45-year-old from Shirley, Southampton, was forced to abandon his boat in the rough seas of the English Channel near to the Channel Islands.

A dramatic rescue was launched to save the former hairdresser, who left the city with his friend George Manse, his pet dog Daisy, and cat Fluffy.

All but Fluffy were pulled from the sinking 75ft converted motor fishing vessel, Abundance, in the early hours of yesterday morning by lifeboat crews from Alderney, who risked their lives to save the two men in force eight gales.

Mr Payne said: "The whole thing can be blamed on not knowing the weather.

"We should have checked but I spent four days on the boat in Southampton preparing and I didn't have access to the Internet so we couldn't check."

Leaving Southampton at 4am on Tuesday, it took the crew of Abundance six hours to get beyond the Needles, on the Isle of Wight - something which should have taken only an hour.

By 9.30pm that night, the engine room of the boat, built by Husbands in Southampton in 1948 and recently converted by Mr Payne, was filling with water after listing in high seas for hours.

Mr Manse, 55, who owns an engineering business in Sarisbury Green, had accompanied Mr Payne to help him on his journey.

"It was like Armageddon out there," he said.

As the boat took on water the electrical items began to fail.

"You couldn't see anything, the sea was grey, the skies were grey and there was driving rain," said Mr Payne.

"Everything in the boat was being thrashed around with each roll.

"Doing anything was like trying to thread a needle on a rollercoaster."

Mr Payne, a diabetic, was at the wheel for nearly 24 hours and towards the end was vomiting because of his condition.

Many of the boat's fittings, including a bath, came loose and were washing around the boat.

Mr Payne had to be encouraged by lifeboat crews to abandon his home which had already started sinking and was not insured.

"I put my whole life into that boat and I didn't want to leave it," he said.

He is today counting the cost of the voyage that has left him in financial ruin.

"I've lost everything I ever owned. I mortgaged the house three times over the last few years to pay for the boat," he said.

"No one would insure the boat because it was too old."

The boat was found 12 miles off the coast of Alderney and the two sailors were taken aboard a lifeboat at 3.25am.

"The wind was blowing steady 35 knot speeds with 45 knot gusts,' said Declan Gaudion, coxswain of the Alderney lifeboat.

At 4.15am the lifeboat returned to Alderney where the two men were admitted to hospital with minor injuries.

Both Mr Payne and Mr Manse praised the lifeboat crew for their heroism and professionalism.

Neither hold any hope of finding the boat and Fluffy the cat is also still missing.

The two men said they plan to return to Southampton.