'DIY' holidaymakers risk travel cover
Around eight million UK tourists risk being stranded during the summer because they are not covered by Air Travel Organisers' Licensing (Atol) travel protection.Most traditional travel agents automatically cover holidaymakers with Atol protection, which should ensure that tourists are escorted home and reimbursed should their agent cease trading.'DIY' tailored holidays from independent agents do not always offer this scheme, yet 39 per cent of holidaymakers booked this kind of holiday last year where a decade ago 97 per cent of holidays were booked through conventional agents.David Clover, spokesman for Atol, said on Channel 4's News at Noon that he was concerned that a new survey by the Civil Aviation Authority showed that a third of holidaymakers mistakenly believe they are covered by the Atol scheme when booking independently.Mr Clover said: "Atol provides full financial protection if anything goes wrong with the travel company, that means they'll get their full refund or be repatriated back to the UK if the tour operator goes bust.He warned of the importance of making sure you have adequate travel insurance, saying: "If you do a DIY holiday then there are real risks people will be stranded abroad or will lose out financially."
Opinion split over possibility of housing bubble
14/10/2013 Opinion on whether the new Government-led scheme to get more people on the property ladder, Help to Buy, will cause a housing bubble has been split, as industry experts consider the likelihood of a rise in property prices. Head of Lloyds Banking Group, Antònio Horta-Osòrio, has expressed his concern over the scheme, saying that unless the Government removes restrictions over pla...Read More
Icelandic government agrees $5.4 billion loan with UK and Netherlands
The recent collapse of the Icelandic banking system, which resulted in a number of UK and apparently Dutch savers losing significant amounts of money, has been partially resolved with the announcement of a $5.4 billion loan from the UK and Netherlands governments. The UK is putting forward $3.8 billion and the Dutch government $1.6 billion.
This will allow the Icelandic authorities...
MPC set to end 2009 with caution
The Bank of England's Monetary Policy Committee (MPC) is expected to end 2009 on a cautious note with no change in interest rates and no change in the amount of funding available to the quantitative easing program. Despite the fact a number of prominent economists have suggested that the UK economy is "moving in the right direction" there are still concerns regarding the short to medium term perfo...Read More
Three-storey love story
Three-storey properties are growing more popular and although most three-storey buyers did not deliberately choose a three-tiered home initially, nearly two thirds of those that own them now adore their extra floor, a new study has shown. National house builder Redrow, surveyed around 1,000 customers living in both two and three-storey properties, and found homeowners could list a wide variety of...Read More
Icelandic authorities agree to pay back â‚¬3.8 billion
The Icelandic parliament has today passed a bill which will see over â‚¬3.8 billion repaid to UK and Netherlands savers who lost out in the Icelandic financial collapse. The vast majority of the money will go back to the UK and Netherlands government who have already been forced to compensate over 300,000 savers with money lost after the collapse. This is the next stage in the economic reco...Read More