July 8th, 2024 | Andrew Hagger | News

Multigenerational holidays are a mainstay of British downtime, with nearly one in three Brits (29%) saying they’ve been on a holiday with adult family members from multiple generations in the last three years, according to new research from Kent Reliance.

Adult children are one of the main beneficiaries of these family holidays, with 42% of parents paying for their adult children to join the getaway to the tune of an average of £2,423.90 per parent.

The UK is the most popular destination for multigenerational family holidays (40%), followed by Europe (37%). Yet many families are travelling further afield together – whether to Asia (5%), North America (5%) or Africa (5%).

For many, these holidays are valuable for enhancing family relationships, with three-quarters (73%) of respondents stating that they have a strong impact on their family bond.

Meanwhile, 47% regard them as a tradition and something they do regularly and 60% of those who have been on multigenerational holidays say they are the trips they look forward to the most.

Louise Halliwell, Group Savings Director, Kent Reliance, comments:

“Multigenerational holidays are a mainstay of how families come together to spend time with each other and create cherished memories. Whether heading to far-flung destinations or closer to home, creating these memories is something that 47% of respondents are prioritising and financing to help bring their family together.

“Londoners are the most likely to holiday with their family, with 39% saying they have done so in the last three years. Other regions follow suit with 32% in the North West, 30% in the South West and East of England, 28% in Yorkshire and Humberside and 26% of people in Northern Ireland.”

July 2nd, 2024 | Andrew Hagger | News

Britain is a nation of sport lovers and with a summer of live action already in full swing new research from American Express reveals just how much Brits are willing to invest in it.

Fans attending sports events will go to an average of five live events across the summer. On average, Brits spend a total of £3.4bn on securing tickets and a further £2.7bn on food and drink attending these events.

Plenty of Brits (16%) will also watch sport at pubs this summer, with the average pub going sports fan expecting to spend £62 on drinks per sports event and £404 in total on drinks across the summer. Fans that plan to eat will spend an average of £70 on a meal when they dine out for sports events.

Watching sport at home is the most popular venue for supporters (90% of football fans will watch at least one match at home this summer) and fans will spend an average of £108 on home entertainment upgrades and £61 on TV subscriptions to facilitate watching sport this summer.

Fans are also preparing to spend £81 on sports apps, games and news services to keep in the know.

June 28th, 2024 | Andrew Hagger | News

Brits are the least likely in Europe to think about their credit score, with nearly half of UK adults (46%) neglecting what their current rating is.

Having a good credit score can pave the way to many useful benefits, including access to better borrowing terms, lower interest rates, and improved chances of successful loan applications.

According to recent statistics, about one Brit in five has a poor credit rating. However, the good news is that there are several ways to improve your score – and taking out car finance, for example, can help do just that. But how exactly?

Jonathan Such, head of sales at vehicle finance company First Response Finance, explains how car finance can boost your credit score, highlighting some of its most prominent long-term advantages.

Establish credit history
One of the most appealing benefits of taking out car finance is that it can help establish a longer credit history. This is especially true for those motorists who are new to credit or have a limited credit history.

Such said: “Buying a car is often one of the first significant investments you make, particularly if you’ve passed your test at a young age and are looking to hit the road as soon as you get hold of your driving licence.

“There’s  a chance that, at this stage of your life, you may have limited credit history – or no history at all. In this scenario, a car loan can kickstart your credit profile, making it easier for you in the future to obtain other forms of credit.

“In fact, length of credit history is an important factor in the eyes of a lender, and it can actually make up 15% to 20% of your credit score.”

Build a positive payment history
As well as helping (younger) drivers get on the credit ladder, taking out car finance allows you to build a positive payment history.

Sticking to your monthly instalments and making on-time payments will work wonders on your credit rating, as it shows you have the ability to manage and keep up with your bills. This is something that future lenders will consider carefully when deciding whether to give you a loan or not.

Ultimately, finance providers are more likely to lend you money if they can see that you’ve been able to keep up with regular payments in the past.

Demonstrate financial responsibility
In line with what’s been said above, adhering to your monthly instalments in a timely fashion and building a positive payment history through car finance will help you demonstrate financial responsibility and creditworthiness.

“Successfully managing a car loan will show that you’re  a reliable borrower,” Such added. “It indicates that you’re able to meet deadlines and respect agreement terms, meaning you aren’t a risk to credit lenders.

“Reliability and responsibility are things that finance providers take into serious consideration when evaluating an application. A good track record of timely payments can make the difference between a successful and rejected loan request.

“Demonstrating trustworthiness by fulfilling your car finance payments can be extremely beneficial if you plan to apply for other types of credit, such as personal loans or mortgages.”

Show a diverse credit mix
A ‘credit mix’ refers to different types of loans you’ve taken out.

In short, there are two forms of credit – instalment and revolving. The former consists in loans that have fixed monthly repayments and a set end date, such as car finance.

The latter, instead, is a type of loan that has a minimum monthly repayment figure but no specific end date or balance (i.e., credit cards).

Credit scoring models tend to favour borrowers with a diverse credit mix, as it proves that they’re able to manage different types of loans and credits.

So, taking out car finance and adding instalment credit to your file can help you improve your credit ranking and better your ‘reputation’ in the eyes of potential lenders.

As well as allowing you to spread the costs of your new vehicle purchase, taking out car finance can boost your credit score.

June 21st, 2024 | Andrew Hagger | News

New data from SpareRoom, the UK’s number one flat-sharing site, has revealed the staggering financial impact of cleaning-related deposit deductions on renters.

Almost two thirds (63%) of UK renters have experienced deposit deductions due to cleaning-related issues, leading to over £724million*** worth of losses overall per year in the UK. These losses are based on claims that the property was not thoroughly cleaned prior to the tenancy ending, and therefore landlords have needed to pay for professional services.

The average amount of money deducted from renters’ deposits was £250, but 29% suffered deductions of more than £500, and 16% had over £750 subtracted.

Of those who experienced cleaning-related deductions, only one third (34%) proactively contested them and of those who did contest, 41% were able to reach an agreement with their landlord to reduce or cancel the proposed deductions. Seeking legal advice from tenancy deposit dispute solicitors can help tenants to challenge these types of deposit deductions.

And the topic of household cleaning also rears its head as a common cause of breakdown in flatmate communication. Whilst 27% of renters say they’ve created a cleaning rota to determine who cleans when, 28% say they don’t have a system at all, and simply chip in when needed. The latter, however, doesn’t always prove fruitful, as almost three in five (59%) renters said they’d experienced arguments with flatmates over cleaning. This is despite ‘similar standards of cleanliness’ ranking second in a recent SpareRoom poll of the most important flatmate characteristics.

Only 17% of renters said they paid for a professional clean prior to moving out, and commenting on these figures, Matt Hutchinson, SpareRoom Director said, “Navigating the moving out process can be a stressful one, for both renters and landlords, and ultimately landlords want to ensure their property is left in a good condition as much as renters want their deposits back.

Although landlords can’t legally demand that tenants pay for professional cleaning, to minimise the risk of cleaning-related deposit deductions, renters should ensure that they’ve conducted a thorough clean either themselves or using a professional service, as well as staying on top of cleaning throughout the tenancy. It can be a tricky road to navigate, but transparent landlord-tenant conversations throughout the process can help to ensure there are no surprise deductions at the end of the road.”

The dreaded deep clean

According to SpareRoom’s research, the oven is the most dreaded appliance to clean, meaning renters put off cleaning it longer than they should, followed by kitchen cupboards and drawers. But how often should you really get down and dirty? SpareRoom experts reveal exactly how you should be deep cleaning your property and appliances…

•     Oven

○       Often the most dreaded appliance to clean, generally an oven should be deep cleaned every three months to avoid grease build-up and keep things sparkling, which may come as a shock to the 13% of renters who said they’d never once cleaned it!

•     Dishwasher

○       A whopping 31% of renters said they’d never cleaned their dishwasher, and why would they? It cleans itself, right? Wrong. Although your dishwasher does a great job of cleaning dishes, it still needs its own TLC, and a dedicated dishwasher cleaner will do the job, removing mineral buildup and detergent residue that may be trapped within the machine.

•     Fridge

○       When fresh food is involved, it seems Brits are pretty good at staying on top of cleaning. Whilst it’s recommended that you deep clean your fridge every few months, nearly a quarter of Brits (24%) say they give it a clean every week. Having said this, a deep clean should always involve removing food and storing in a cool bag, before switching off, removing all drawers and shelving and getting into every nook and cranny!

•     Windows

○       11% of renters have never cleaned their windows, meaning streaks, stains and dirt build-up are commonplace for many. Although regular exterior window cleaning isn’t essential, we should be cleaning them at least twice a year – if your flat is above ground floor, speak to your landlord or building maintenance team to discuss professional cleaning.

June 17th, 2024 | Andrew Hagger | Uncategorized

New research from Go.Compare home insurance has found that 65% of the population currently has a shed or outbuilding at home – and despite the fact that the average UK shed is used to store around £455 worth of valuables, 55% of shed owners didn’t have insurance to cover their sheds or outbuildings, hadn’t thought about it, or didn’t know if they had the right cover.*

The new research quizzed more than 1,300 shed owners about how they currently use their outbuildings – and found they aren’t just for storage. The results revealed that men are the main shed owners in the UK (69%) and are almost three times as likely (13%) to use them as a “man cave”, compared with just 5% of women using their sheds as a “woman cave”.

One in ten shed owners use them as a “hobby space”, and a further 13% use them for their original purpose – as a potting shed for gardening. Eight percent of those questioned have converted their sheds into gyms and 6% use them as a games room.

When it comes to the younger generations, those aged between 18-34 are nearly twice as likely to use sheds/outbuildings as a gym (15%) compared to the general public (8%). And it seems the home bar hasn’t gone out of fashion four years post-pandemic, with those aged 18-24 THREE times as likely to have converted their sheds or outbuilding into home bars.

According to the data, the average value of the contents that UK householders keep in either a shed or outbuilding is £455, though for 1 in 6 people (16%) it’s more than £1,000. However, despite the high value of these items, only 44% of those surveyed are certain they have insurance cover in place.

Ceri McMillan, home insurance spokesperson for Go.Compare, said on the research: “We did a similar survey in 2021, during the pandemic, where we found that UK adults had spent an average of £1,976 on their gardens during the pandemic. We wanted to find out if the way people are using these spaces has changed four years on, and whether or not these former havens were now defunct – so it was heartening to see people are still making the most of these spaces.

“It’s clear many people are keeping quite valuable items in their sheds. But whether you’re using your shed to store gardening tools or gym equipment, it’s important to know if it’s properly protected. Many of us may not think about the value and security of our garden contents in the same way as we do about our homes, but when you start adding up the cost of garden structures, furniture, BBQs, lighting, and ornaments, even the average garden can house several thousands of pounds worth of items.

“Sheds and other outbuildings are often covered under your buildings insurance – but this just covers the structure, not what you keep inside.   Instead, these items – along with any patio furniture, BBQs, garden planters and ornaments – can be covered by home contents insurance under ‘contents in the open’, which provides cover for loss or damage to contents left outside but within the boundaries of your home.

“While there’s often a degree of cover for gardens and outbuildings in a home insurance policy, the amount and level of cover can vary significantly.  So, if you’re keeping valuable items in your shed, you may want to check your insurance cover and make sure it’s right for your requirements, or even buy additional garden cover.”

Go.Compare Home Insurance has provided some tips below to help secure your garden and its contents:

1. It’s a good idea to keep boundary hedges and fences maintained as this will help to deter opportunistic thieves.
2. Where it’s practical to do so, keep outdoor possessions in a locked shed or garage and consider installing security lighting or CCTV.
3. You can also secure expensive plants with wire pegs dug into the ground around the root ball.
4. Use a security pen to mark valuable items that are left in the open with your postcode (e.g. garden furniture, ornaments and trampolines).

For more information on garden and shed insurance visit: https://www.gocompare.com/home-insurance/shed-and-garden-insurance/

June 11th, 2024 | Andrew Hagger | News

Almost a quarter (22%) of holidaymakers buy the cheapest travel insurance they can find, according to a new Opinium survey of 1,000 holidaymakers by Multitrip.com, a specialist travel insurance provider. Additionally, only three in ten (29%) say they do a lot of research into which travel insurance to buy.

Worryingly, only a third (33%) check that the cancellation limit amount would cover the cost of their holiday, if they had to cancel before travelling, and the same number also do not check that the luggage limit amount would pay for their lost or damaged luggage and contents. Also, only a minority of holidaymakers (17%) check travel insurance protects them for events including strike action, natural disasters and IT failures.

Christian Bennett from Multitrip.com said: “It’s really important to do your research when buying travel insurance to make sure that you put in place the right cover for you. Ask yourself if the baggage and cancellation cover is enough for what you need. Make sure that the activities you plan to do, such as diving, parasailing, water skiing are included or can be added to the policy. If you’re concerned about strikes and delays, include Travel Disruption cover in your policy for additional peace of mind.”

He continues, “Gadgets are an essential part of people’s travelling kit. The value of all these gadgets can easily exceed the protection offered by most standard travel insurance policies. We offer additional Gadget Cover to enable customers to protect the gadgets they want to take away with them.”

Multitrip.com offers three levels of protection, Essential, Premier, and Premier Plus. Adding Travel Disruption Cover, Gadget Cover, or Winter Sports to a travel insurance policy ensures you’re covered for more specific travel needs.

June 5th, 2024 | Andrew Hagger | News

New research shows that Birmingham is home to the UK’s most expensive airport for parking outside of London. The figures show it costs an average of £176.14 for two weeks’ parking at Birmingham Airport – £41 more than the UK average. This makes it the most expensive to park at outside of the capital.

The research by MyVoucherCodes reviewed the cost of parking for two weeks at over 140 car parks across the country’s 19 busiest airports. It found that, outside of London, Birmingham Airport had the highest average price for a parking space over 13 months.

In fact, the research found that travellers from this region are probably better off flying from East Midlands Airport instead. A parking space is an average of £74 cheaper at East Midlands Airport, and driving the extra distance costs just an estimated £4.76 each way in fuel, leaving flyers with a saving of £64.

Other airports outside of the capital that proved to be particularly costly for parking include Bournemouth (£171.45), Bristol (153.33) and Cardiff (£135.38). Several northern airports also made the top 10, with Manchester (£125.44), Newcastle (£124.37) and Leeds Bradford (£119.26) all being named.

Both Belfast airports were also on the list, with Belfast International being slightly more costly by around £4.

The UK’s 10 most expensive airports for car parking outside of London can be found below:

Unsurprisingly, London-based airports were by far the most expensive. The average cost of an airport parking spot in London was found to be £166.44, whereas the average for the rest of the UK was only £123.52 – a difference of £43. London City Airport had the highest price for a spot, costing an average of £213.14 for two weeks – £37 more than in Birmingham.

Sarah-Jane Outten, savings expert at MyVoucherCodes, said: “There’s a clear difference in what travellers are paying for their airport parking across the country, with those flying from Birmingham and London being hit with particularly pricey rates.

“Airport parking can be costly, giving travellers all the more reason to find ways to save where they can. Park & ride and off-airport car parks tend to be the cheapest, so consider booking a space at one of these if you want to cut costs. Also, some car parks are cheaper if you book further in advance, so it’s worth booking sooner rather than later if you can.”

“Plus, while it’s not one of the categories where vouchers are used the most, many airport car parks offer discount codes for their spaces. So, it’s worth checking if any deals are available for car parks at your departure airport before finalising your booking.”

More information about the costs of airport parking, including tips on how to save, can be found on MyVoucherCodes’ website.

May 29th, 2024 | Andrew Hagger | News

American Express has launched a trio of limited time offers, including a boosted new Cardmember offer on the Amex^® Gold Card, offering up to 30,000 bonus Membership Rewards points for taking out the Card, 10,000 more points than the usual sign up offer.

From today until 16 July, 2024, new Amex Gold Cardmembers will be able to earn 25,000 points, boosted from the usual 20,000, when they spend £3,000 in their first three months. New Gold Cardmembers can then earn a further 5,000 points when they make a transaction of any amount in the fifteenth month of Cardmembership, taking the potential bonus points available to 30,000.

30,000 points can be redeemed for £150 in gift vouchers at a range of shopping, travel and lifestyle partners, used to offset purchases made on the Card, or redeemed against flights and hotels with Amex Travel.

The Gold Card is free for the first year. Gold Cardmembers have access to a wide range of travel and lifestyle benefits in the first year and beyond, including:

• £5 back on Deliveroo twice a month;
• Four Priority Pass accesses to 1,300 global airport lounges;
• Access to exclusive experiences; and
• The ability to earn at least 1 Membership Reward point for every £1 they spend, plus 2,500 additional points for every £5,000 spent, up to 12,500 additional points.

‘Invite a Friend’ offer

American Express has also launched an enhanced referral bonus when existing Cardmembers invite friends to become new Cardmembers. Running until July 2024, different offers are available across multiple Cards (see table below for Cards, offers and end dates which vary across July*), where both the existing Cardmember and the referred friend will earn enhanced points or cashback. There are also exciting opportunities for many referrers to earn ‘accelerated’ points as they spend.

For example, an existing Amex Gold Cardmember who invites a friend will have their bonus increased from 9,000 to 14,000 Membership Rewards points for each successful referral**. On top of that, for the first referral, they will receive an additional 2 points for every £1 spent, for 3 months, up to £6,000. The invited friend will also receive 30,000 points, up from 22,000, if they spend £3,000 in the first 3 months of Card membership.

The process of inviting a friend is quick and easy. Referral can be done via the existing Cardmember’s Amex^® App or website, where Cardmembers will find their unique referral link. Cards that are part of this offer include the Amex Gold Card, The Platinum Card^® and The American Express^® Rewards Credit Card.

American Express^® Platinum Cashback (Amex^® Cashback Card) offer

The third offer American Express has launched today sees the first-year annual fee lifted on the market leading Platinum Cashback Card for new Cardmembers. Until 2 July, 2024, new Cardmembers will be exempt from the usual £25 annual fee, for the first year***.

New Cardmembers can continue to earn 5% cashback up to £125 in the first three months of Card membership. They then earn up to 1.25% cashback on purchases, the highest ongoing cashback rate in the UK.

Dave Edwards, Vice President, American Express, commented: “With summer just around the corner, many of us will be planning holidays, shopping trips and experiences to share with friends and family. With this trio of limited time offers, new and existing American Express Cardmembers have the opportunity to earn even more rewards, which they can put towards their next purchase or adventure.”

The American Express Gold Card has an 88.8% APR variable. The Platinum Cashback Card has a 36.7% APR variable. Terms apply. 18+. Subject to status.

May 28th, 2024 | Andrew Hagger | News

A new study has revealed that English and Welsh residents lost around £98.7 million in a single year due to uninsured burglaries. This means thousands might have faced the double whammy of suffering a break-in and replacing their lost items themselves because they did not have protection in place.

The research, by Go.Compare Home Insurance, estimated the number of uninsured burglaries in a year based on a combination of Home Office and FCA data. It then applied the average contents insurance claim to uncover how much will have been lost in claims as a result.

The comparison site estimates that a third of all residential burglaries are uninsured. In England and Wales, this is equivalent to 62,718 residents suffering a break-in and having no protection to support them. Out of the 187,749 residential burglaries that took place in the year ending September 2023, around 125,031 had a policy in place to help them cover their losses.

According to the figures, residents in England and Wales suffered a ratio of one burglary for every 132 homes over 12 months. This follows the news that Cleveland in North East England is the country’s biggest burglary hotspot, where there is one burglary per every 61 homes.

London and Yorkshire and the Humber were also named as the worst regions for burglaries, where the ratio is 1:90 and 1:92 respectively., Dorset and Somerset was highlighted as having the lowest burglary ratio in the country, where the rate was just one burglary for every 395 homes.

As a result, Go.Compare is urging residents to make sure they have the necessary cover in place to avoid losing thousands in a worst-case scenario.

Nathan Blackler, a home insurance expert at Go.Compare, said: “It’s truly shocking to see that thousands of people might have suffered a burglary without a policy in place, possibly losing millions as a result. This means they would have had no financial support to help them through an extremely challenging time.

“Unfortunately, living somewhere with high crime rates can have a negative impact on the price of your home insurance. But getting some form of cover in place is still important, as failing to buy a policy could end up costing you thousands in the long run. You should also prioritise your home security to make sure your property is as protected as it can be.

“Although you might get a higher price than in other areas, there are still things you can do to reduce your premiums. Adding improved security features, joining a Neighbourhood Watch scheme, and paying annually can all lower your costs. Regularly comparing policies will also make sure you’re constantly getting the best price for your cover.”

More information on uninsured burglaries, as well as England and Wales’ biggest burglary hotspots, can be found at Go.Compare.

May 28th, 2024 | Andrew Hagger | News

New research shows that a staggering 95% of sellers overlook simple yet effective steps to get the best price for their car.[1] Concerningly, close to one in four (23%) sellers neglect any price-maximising measures altogether.

The recent survey by Carwow sought to find out whether drivers are missing out on extra cash in car sales because of a lack of preparation. It found that very few vehicle owners topped up their fluids (23%), removed dents or scratches (21%), or fixed minor issues (27%) before selling, overlooking vital steps that could have increased the value of their cars.

While two-thirds (67%) of respondents cleaned their cars before a sale, Carwow explains that this step alone often falls short of fully maximising a vehicle’s value.

Surprisingly, most motorists failed to update or replace essential documents such as service history (86%) or obtain a new MOT (80%), this means there’s a whopping 86% of sellers missing out on potential profits.[1]

The online car-changing marketplace also spoke to its dealers to determine what factors deter them from bidding on a car. Almost half (48%) of the dealers admitted that they didn’t bid on a vehicle with too little information, with the most stated reason being a missing service history.[2]

Interestingly, used car sellers were the most likely to skip over all the price-boosting steps. Close to a quarter (23%) of second-hand car owners took no measures to prepare for sale, while only 17% of new car sellers said the same. In fact, those selling new cars were more likely to take all the listed steps to improve the selling price.

Men tend to be more vigilant than women when it comes to maintenance tasks like topping up fluids and fixing minor issues such as replacing a bulb or fuse. However, women were more likely to get an up-to-date MOT before selling their car. On the other hand, they were also slightly more inclined to skip over all of these steps, with 23% of women admitting to performing none of the listed tasks, compared to 22% of men.

John Rawlings, Consumer Editor at Carwow, said: “Our findings show that there’s a significant opportunity for sellers to get a better price for their cars through straightforward yet frequently overlooked measures when preparing for a sale.

“Overall, there’s a shared understanding of the importance of basic preparation steps like cleaning your vehicle. However, it’s clear that there’s still room for improvement, especially when we know that dealers can be put off from bidding on cars because of elements like missing documentation. These considerations could turn a failed sale into a successful sale and ensure that you’re selling your car for what it’s really worth.”

For more information about how to make the most of selling your car, visit Carwow’s website.