Holidays – the only thing that hits our mind when we spend slogging hours in the office. It’s the only thing that we all want to break the monotonous schedule. Travel therapy works the best and rejuvenates our mental health. With families spending an average of £4,800 on holidays each year, 59 per cent of parents in the UK said they cannot afford to take their kids on summer holidays – as it is expensive.
In such cases, where you do not have sufficient funds to cover the costs of your travel, a holiday loan can help you. Let us delve deeper into the insights to know more about the travel industry of the UK.
Trends of UK Holidaymakers - 2018
According to a report released by Deloitte, some of the major key findings are:
- 33% of people took 2 or more overseas holidays with their children while 31% of people managed to take 2 or more domestic holidays.
- 35% of people who took overseas holidays are 55 years old or more.
- 62% of proportion in London took at least one overseas holiday.
How Has Brexit Affected the Travel Plans of the Brits?
Since the referendum vote to leave the European Union in June 2016, concerns about Brexit affected the travel plans of Britons. 27% of people said that they think Brexit will have some impact on overseas holidays, while 18% of Brits are unsure of the outcome.
How Holiday Loans Help you to Travel More?
Holiday loans are personal loans that are taken out without any collateral or guarantor. These loans can be taken for a period of a year or less. An interest rate is charged to the loan amount and it can be repaid in monthly instalments. These loans can be availed online. Whether you are seeking for Holiday Loans in Birmingham or in Bristol, you can apply for these loans from any part of the UK.
If the lender approves your loan application, you will receive the amount in your bank account and you get access to the cash. But that is not the case with credit cards. A credit card is not easily accepted in every nook and corner, but cash is readily accepted. And it is necessary to spend in cash during your holidays otherwise, you may end up paying extra fees for your credit card expenses if spent overseas.
Conclusion
Personal Loans are a feasible option of borrowing funds to fill the shortfall, if and ONLY if you are sure about the repayment. The repayment has to be done on time and in full to avoid causing any damage to your credit score. Know the overall cost of borrowing money and make a repayment plan accordingly. Generally, these loan applications are verified and assessed by the lenders within minutes of applying. And once approved, the money is disbursed by the lender to the borrower’s bank account.
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