One in three Brits risk a financial holiday hangover by paying for their holiday using debt, according to new research. Research by Bright Grey found 32% of holidaymakers will pay for this summer’s break using a credit card, travel agent payment plan, or by borrowing money from family and friends. Sun-seekers will borrow an average [...]
Brits travelling abroad this month have been encouraged to take out travel insurance by moneysupermarket.com. The price comparison site said insurance for winter breaks is available for as little as £10 per week. “Whether you’re seeking sunshine in Spain or snow on the slopes, travel insurance is an essential item when planning any holiday and [...]
With the stamp duty holiday due to end on 31st December, the Royal Institution of Chartered Surveyors (RICS) is warning that a return to the previous structure of the tax could have a detrimental affect on the UK’s fragile property market. According to the body, regions that are already lagging behind in the recovery will [...]
With the stamp duty holiday for purchasers of properties worth up to £175,000 coming to an end in December, Halifax has calculated that 31% of homebuyers in England and Wales have benefited from the concession. In September of last year the Government raised the threshold at which 1% stamp duty is paid from £125,000 to [...]
Four in five Brits are putting money aside for a holiday despite the recession, research by Halifax discovered. The poll found 84% of UK adults are maintaining a holiday savings habit, almost double the 44% who said they were saving towards holidays in pre-recession studies. Nearly three quarters (72%) of Brits said they’d funded or [...]
Despite the latest trend for “staycations”, British seaside resorts are being hit by unemployment. Staycations are a result of the recession as families tighten their purse strings, more people are holidaying in the UK to save money. However, according to the TUC, the trade union body, unemployment was at “crisis level” in many of England’s [...]
Millions of Brits have made drastic cuts to their holiday budget this summer, new research has discovered. Santander Cards found that a quarter of Brits taking a well-earned break in the sun this year plan to reduce holiday spending. Eating out is the biggest target of cutbacks, with 54% of those reducing their budget planning [...]
Latest figures from HM Revenue and Customs show completed housing transactions rising to 60,000 in March, up from 43,000 in February. News of the 40% increase adds to other recent evidence that the UK housing market is on the road to recovery and while house sales traditionally rise in March, when the figures are seasonally [...]
British holidaymakers are being misled into believing that a ‘commission free’ exchange means they are getting the best deal for their holiday money. Online currency provider FairFX said many Brits are unaware that the exchange rate is just as important as the commission fee in determining how much of a foreign currency they’re getting for [...]
British holidaymakers are becoming more picky when choosing a destination for their break to make sure they are getting the most for their money. Research by M&S Money found that more than a third (36%) of British tourists look at currency exchange rates before making a choice on their holiday destination. As such, the falling [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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