£6bn lost on cancelled holidays
With a recent study revealing that over £6 billion was lost last year through people cancelling holidays they have already booked, Britons have been reminded of the importance of taking out a comprehensive travel insurance policy.According to the insurer More Than, who released the findings, while many people book their holidays well in advance, many fail to take out insurance and therefore leave themselves vulnerable to losing money spent on booked travel and accommodation should their plans change.Of all the claims made through More Than's travel insurance service last year, 26 per cent were for the cancellation of holidays, with an average cost of £856.Commenting on the findings, the company's head of travel insurance, Keira Clark, said: "It's encouraging that holidaymakers are catching on to the importance of travel insurance, but many still don't realise that by purchasing their policies late, they miss out on valuable cancellation cover."The comments come soon after British holidaymakers were advised to make sure their building insurance is up-to-date before going away, in the event of leaking pipes and water damage.
Google enters the UK property market
Search engine giant Google has today confirmed that residential property listings will be added to its Google maps service. The company claims that "hundreds of thousands" of homes are already being advertised for sale or rent on the Google maps service which is proving to be one of the more popular initiatives of late. In a rather clever way, which does not alienate any area of the market, Goo...Read More
'Higher living costs to add to debt mountain'
Fast rising living costs are set to pile more pressure onto debt-strapped Britons, it has been claimed. The Alliance Trust Financial Reality Index (ATRT) recently found that recent wage increases have failed to offset the higher prices for food and fuel. This, along with higher mortgage repayments and credit card bills, will place more and more Britons into a parlous and stressful financial situat...Read More
Is Gordon Brown siding with the Liberal Democrats?
While the press today is dominated by a number of negative articles about Liberal Democrat leader Nick Clegg, he has received unexpected support from the Labour Party and Lord Mandelson in particular. It is also well-known that Gordon Brown has "sounded out" the Liberal Democrat party regarding a potential deal in the future suggesting there are a number of policies which are very similar. To m...Read More
Why has it taken 10 years to address the Equitable Life collapse?
It is difficult to appreciate how it has taken the UK government 10 years to come anywhere near answering compensation claims for the Equitable Life debacle back in 2000. Equitable Life was literally on the verge of collapse due to a number of retirement guarantees offered to customers which came back to bring the company to its knees. The company lost a high-profile court case which effectively f...Read More
Homeowners told to prepare for increased mortgage rates
15/08/2014 Mortgage rates “will rise at some stage” and borrowers should be planning their finances for this eventuality, according to the Council of Mortgage Lenders (CML). During the second quarter of the year, home repossessions fell to the lowest level since quarterly records began in 2008. However, those who still have money left to repay on their mortgage should be careful they don...Read More