Thursday, November 5, 2009
Category:
Secured Loans
According to a study by Santander Cards, parents who were planning to take their children away during half term were set to face significant holiday premiums.
In fact, it was found that the cost of a holiday during that period was up to 249 percent higher than the week after half term. This looked to be the case for families of four who were planning to travel from Gatwick to Lanzarote between 24th and 31st October, with the cost at £5,485.62 compared to £1,572.46 the following week.
In addition to holidays in Lanzarote, Santander Cards also researched Gran Canaria, Florida, Sharm el Sheik and Crete and discovered that a family of four would have to pay 104 percent more (on average) for a half term break than they would a week later. The research also revealed that the most significant half term ‘bargain’ looked to be a holiday in Crete; by flying from London to Chania, holidaymakers would have encountered a premium of just 18 percent.
A further finding included the fact that the cost of a package holiday during half term was set to be a little greater when flying from London compared to Manchester. The average premiums were recorded at 108 percent and 101 percent respectively.
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Homeowners who may have used credit cards to fund holidays, and who would like to consolidate these could consider a
secured loan for debt consolidation. One of many finance options available, a secured loan for debt consolidation could be used to re-organise finances. For example, existing personal loans and credit cards could be tied up to leave the borrower with just one monthly repayment as opposed to several. This single monthly repayment could even be lower than current outgoings, thus leaving the borrower with extra money each month. However, when taking out a debt consolidation loan it must be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment period of your debts.
