£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.
The MPs Expenses Scandal
After nearly three years of fighting the release of information under the Freedom of Information act the day has finally arrived. Despite a last ditch attempt to block the release of MPs expenses, at a cost of over £100,000 to the taxpayer, we finally have sight of how taxpayers money is being spent. So how does it all look?
While we see that the vast majority of MPs have been cl...
Mortgage providers struggling to value UK houses
In a worrying development the Bank of England has revealed that a number of so-called house price chains have collapsed because mortgage providers are struggling to value property in the UK market. Such is the difference of opinion with regard to the short to medium term direction of the market that consensus valuations are proving very difficult to obtain.
If mortgage providers are...
Export figures lead to weaker pound
Yesterday's trade figures have caused concern in currency markets with a rise from £6.3 billion to £7.5 billion between February and March. It is believed that imports increased far quicker than exports even though the weaker pound has been helping exports of late. So what does this mean in the short to medium term? The very fact that imports have increased at a far greater rate than exports...Read More
Stamp Duty Rumours Simply Untrue Says Treasury Spokesperson
A Treasury spokesperson has today come forward to blast suggestions that the government has come forward with a plan to suspend or delay the payment of stamp duty on house purchases. This seems to fly in the face of recent comments from the Chancellor Alistair Darling who seemed to indicate that a suspension of stamp duty was under serious consideration by the authorities. So what really is goin...Read More
Opening a pension and a Child Trust Fund is "a great idea"
Opening a pension for your child along with a Child Trust Fund is a "great idea" for parents looking to provide their offspring with long-term security, a financial advisor has said. Anna Bowes of financial advice firm AWD Chase de Vere said that relying purely on a Child Trust Fund is risky. This is because at the age of 18, when the beneficiary will be able to access the fund, "there's a potenti...Read More