£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.
Did Mervyn King frighten the money markets unduly?
It seems in many ways that whatever Mervyn King, the governor of the Bank of England, cannot win. This week we saw Mervyn King issue a rather downbeat statement on the UK economy and the revelation that he had fought for an increase in the quantitative easing fund by a further £75 billion and not the £50 billion which had been announced. While many analysts respect Mervyn King's opinion on the e...Read More
Christmas comes early for some Norwich Union customers
UK insurance giant Norwich Union has this evening confirmed plans to return up to £40 million of unclaimed life and pension policy assets to over 40,000 customers. The move has received widespread approval as some of these unclaimed policies date back to the 1950s. The company is currently handing back over £1 million a month to customers who have either changed address or disappeared off the ra...Read More
UK mortgage market could be hit by increased costs
The UK mortgage industry has warned UK homebuyers that regulatory changes which now force mortgage lenders to check customer financial strength in more depth will lead to increased fees for mortgage arrangements. This comes at a time when UK mortgage fees are starting to creep higher and higher, even ahead of the changes, and the marketplace is becoming more complicated to understand and appreciat...Read More
Banks fading from high street and cutting financial advisers
04/02/2014 Banks are beginning to fade from the high-street as some of the biggest financial institutions are cutting branches and staff. Financial institutions cutting their high-street services include Lloyds banking Group who will be cutting managers, as well as back office and operations staff, whilst Barclays recently confirmed that they will be closing some high-street branches over th...Read More
Remember to pay off high interest debt first!
As debt problems continue to engulf many families in the UK we are seeing more and more people making very simple mistakes when looking to improve their financial situation. One simple error which many people are making is not paying off the highest interest-earning debt first such as credit cards balances which can attract interest rates in excess of 20%. So what do you need to consider? Befor...Read More