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FAMrates.com is the "Original & First" website owned and operated by travel professionals who strive to bring you the latest in Fam tip and Travel Agent Discount information. With our experience, expertise, and supplier participation, you can count on us to provide accurate and exciting fam information every week! .

Gain access to countless FAM Opportunities. BONUS: Also includes a FREE downloadable copy of: Once you subscribe, a downloadable copy of: "The Complete Guide to FAM Trips & Travel Agent Discounts" will be available. This guide will teach you, step-by-step, how to set-up and request your own fam trips and site inspections.

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Great value car rental for Travel Industry Staff with a saving of 15%

Our Fully Inclusive rates cover everything you'll need for peace of mind, so just relax and enjoy the ride.

What's included in your Alamo Rent A Car?

USA Inclusions:

  • Unlimited mileage
  • Collision Damage Waiver (CDW)
  • Liability Protection (LP) ($1 million liability coverage)
  • All airport fees
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Or upgrade to Alamo Gold, to include all the above &:

  • One tank of pre-paid fuel
  • Cover for 3 additional drivers

UK, France, Germany, Spain & Ireland Inclusions:

  • All local taxes and surcharges

Start a reservation

Or, start a reservation without partner rewards.

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Discounted rates are calculated from the Pay Local retail rate found on www.alamo.co.uk. Offer is available to UK residents only and is subject to availability. Discount is 15% off for North America, UK, Ireland, Germany, France and Spain. Alamo's US Gold Package requires a minimum 4 day rental period and excludes a tank of fuel in Manhattan.

Travel Industry Staff ID  will be required at time of rental to qualify for the discount and the rental does not qualify for frequent flyer programmes or cashback schemes. Examples of Travel Industry ID include Company ID card, business card, letter of employment or payslip. Standard rental terms and conditions apply. Not to be combined with any other offer.

Our USA & Canada Gold package covers everything you'll need for peace of mind including 3 additional drivers & 1 tank of fuel, so just relax and enjoy the ride.

Alamo offers friends and family rates too! Our Fully Inclusive rates cover everything you'll need for peace of mind, so your nearest and dearest can relax and enjoy the ride.

Why Hire a Car Direct with Alamo?

  • Competitive all-inclusive rates
  • No hidden fees
  • Modern family-friendly fleet

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Call Local N/A. Call Local 01293 425000 Call Local N/A. Call Local 01293 425000

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Welcome Travel Industry Services Clients!

We have recently combined travel industry services (tis) with touchdown holidays to form touchdown | travel industry services . we hope you like our new look and trust that you will find even more fantastic travel deals than ever before., if you are visiting us for the first time, you must register to see discounted pricing, it's free and only takes a minute. click here to register ., if you are already registered with tis, your login (e-mail address | password) is still valid. click here to login ., if you are registered and logged in, you are ready to discover your next holiday. start your search by browsing our featured offers here --> cruise | resorts | river cruises | flights | tours, any questions call us on local/int +44 (0) 1293 425000, am i eligible to book with touchdown | travel industry services, missing the latest deals subscribe to get our weekly updates straight to your inbox, we are atol and abta bonded, so your holiday is protected - find out more . rates are capacity controlled, subject to change, terms & conditions apply. we accept payment in euros, for further terms & conditions, please click here ,   call n/a. call local 01293 425000,   +44 (0) 1293 425000.

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Agents seize touring and adventure momentum

Specialist focuses created as sales surge

Heathrow bank holiday flight disruption threat lifted

Air france-klm group loss widens for first quarter, audley travel recruits new business development manager, globus brands awarded accreditation for customer service in ‘industry first’, aer lingus restores full pre-pandemic transatlantic network, read this week's edition online, register for silversea’s ‘mission expedition’ virtual masterclass, voting and nominations open, register your interest in attending, travel weekly hub, comment: personalisation is the industry’s superpower.

Offering unique experiences will lead to a more sustainable sector and bring back the joy of travel, says Journey Mentor’s Gordon Hague

Comment: The sector must be more ambitious to create a nature-positive future

Comment: final call for agent achievement awards entries, comment: cherish your older clients to boost your sales, destinations, discover cowboy culture and tex-mex tastes in san antonio, home of the alamo, best places in the us for water activities, everything you need to know about booking the best new villas in greece, find out how hurricane-hit fort myers is rebuilding to become florida’s rising star, 3 ways to get value for money on villa holidays, a foodie journey through british columbia with rocky mountaineer’s new menus, 6 of the best las vegas hotels, photos & videos, travel weekly takes ship tour of sun princess 4:40, join a-rosa's lucia rowe for an exclusive tour of a-rosa sena 12:24, celebrity for beginners returns ‘bigger and better’ 12:44, travel weekly parent jacobs media unveils rebrand 1:21, globe travel awards 2024: outstanding achievement award 5:10, competitions, win a spot on intrepid travel’s women’s expedition fam trip with adventurer alice morrison, welcome to celebrity cruises for beginners 2024, win a pair of weekend tickets to the cambridge club festival with brand usa, win an epic 5-night all-inclusive stay at essence at the fives in mexico, globe travel awards 2024 winners revealed, sustainability summit 2023: event gallery, event gallery, jacobs media is honoured to be the recipient of the 2020 queen's award for enterprise..

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more .

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A Trans Pennine Express train shortly after departing Manchester Piccadilly station at dusk.

What is Labour’s plan for rail travel and will it make tickets cheaper?

Party wants to fully nationalise train network within five years of coming to power, in ‘biggest rail reform for a generation’

Labour has made one of its most radical proposals yet in the run-up to an election campaign: to fully nationalise the train network within five years of coming to power.

The party has pledged to guarantee the cheapest fares as part of “the biggest reform of our railways for a generation”, bringing all passenger rail into national ownership under the Great British Railways (GBR) body.

So, how difficult would the plan be to enact and what does it mean for passengers?

How would Labour’s plan for Great British Railways change the way the trains are run?

The headline change is nationalisation: the ambition that all passenger train operations, at least, should return to public ownership. But the wider aim is that control of trains and tracks – “wheels and steel”, as some put it – is brought back under one unified structure, at arm’s length from the government.

The actual railway infrastructure is already managed by the state-owned Network Rail, since the disastrous tenure of Railtrack in the early days of privatisation, and train operations in Scotland, Wales and a large chunk of England are in public ownership. So a fully renationalised railway (bar the rolling stock and freight) is not as big a step as it may once have sounded – and arguably the pragmatic extension of the plans drawn up by the Conservatives in 2021, to end the fragmentation and waste in the system.

How long will the changes take?

Labour said it would get the ball rolling on day one. Given the years it has taken for the Conservatives’ GBR plans to crystallise into a draft bill that has scant chance of passing before an election, supporters of the changes would be forgiven for not holding their breath for legislation. But some of the spadework has been done by the GBR transition team, and Labour will be hoping for a more stable tenancy in Downing Street to see the policy through. It is, it stresses, a long-term plan.

As far as nationalisation of the train operators goes, most of the contracts of remaining operators will expire naturally within the next term, while the government can exercise break clauses in others, such as Avanti West Coast and Cross Country.

What would the trains look like?

Eventually, they would all be GBR-branded trains rather than the individual liveries and logos of different operators. Labour hopes that this will make things simpler for passengers, avoiding confusion over ticketing, as well as cutting costs.

Would it make train travel cheaper?

Possibly, but not for a while yet. Labour says it wants to make the railway more affordable but has definitively avoided any pledges to cut or even freeze the overall level of fares.

However, it believes that its plans will eventually save £2.2bn a year by avoiding the duplication and bureaucracy brought on by the current system, where the Department for Transport tightly controls and specifies contracts for the private firms, and reams of staff are employed in back-end roles. That could give ministers some scope to use more of the billions in annual taxpayer subsidy to bring fares down long-term.

What about this best-price guarantee?

Make that an “ambition”, according to the policy document . It’s testament to the complexity, or occasional absurdity, of UK rail fares that even after years of industry focus on improving the system, renationalising looks an easier promise than telling a passenger they’ve paid the right amount.

Things can be improved, Labour says, as contactless tap-in and tap-out payments extend through more and more of the country, opening up the possibility of a Transport for London-style system, where fares are streamlined and automatically capped or refunded.

The shadow transport secretary, Louise Haigh, pointedly chose the headquarters of Trainline in central London to launch her plans on Thursday, paying tribute to the travel app firm’s “relentless focus on passengers [and] improving their experience”. Trainline shares fell 10%, even though Labour says it has no plans to replace the private firm with a single state retailer.

But given that the app’s business depends on people paying extra to cut through the railway’s confusing fares, fragmentation and lack of a decent central ticketing site, Trainline shareholder nerves might be taken as a vote of confidence that GBR will improve the industry’s own offering.

How else might passengers benefit?

Labour says it would leave the running of the railway to the experts – but the transport secretary would set strategy and take on the role of passenger-in-chief, and the industry would not be “marking its own homework”.

The plan aims to strengthen the voice of passengers by rolling together the various bodies currently meant to be standing up for them – the watchdog Transport Focus and the little-known Rail Ombudsman, as well as a few divisions of the Office of Rail and Road.

What will happen to the private operators?

Their representatives at Rail Partners warn that it will be “messy” and the railway will lose their expertise. But the people actually running train operators, right up to the managing directors, have typically stayed in post with a different coloured badge when the owning groups moved on, and passengers at say, Southeastern or LNER may not feel life is very different. Firms once regarded as pillars of privatised rail such as Stagecoach, National Express (now Mobico) and Virgin have long exited UK rail already, pursuing business elsewhere.

  • Rail industry
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Tributes paid to Frank Field, former Labour minister, who has died aged 81

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Travel Industry Discounts

Why should Travel Industry professionals miss out?

Hilton Hotels – Travel Industry Discounts

January 25, 2022 By Anna Leave a Comment

Deal At A Glance

Link: Hilton Hotels Details: Using the link above, you will access the travel industry rates – it is worth having two windows open, one using the above link, one the standard Hilton site you you can compare the prices. Book By: Ongoing Eligibility: Valid for travel agents or airline employees. ID can be requested at check-in. In fact, it was requested for one of our stays, but a Business Card was sufficient proof of ID. Potential  Savings: 50% is reportedly possible, though the offers are often only for quieter days. Flexibility:  Card details required, but free cancellation upto 23:59 on day before arrival. Ease Of Use: Straightforward, however availability can be limited.

Updated Information for 2022

Hilton have vastly simplified their agent booking website – there are no codes, it’s easy to search for specific hotels or entire areas. They’ve also removed the 90 day booking restrictions, and eliminated errors around ‘Flexible Date’ searches.

Most importantly, in most cases (we found exceptions in some cities like Bangkok) they will show the cheapest rates you can book irrespective of whether it’s a Travel Agent Rate of Honors Members Rates. This is important as Hilton are running aggressive public facing offers – so Travel Agent Rates (which tend to be 30% off BAR) do not appear as attractive. It is worth mentioning that Travel Agent Rates can be cancelled the day before travel – many Hilton offers are non-refundable so do check if you decide to book a Public Offer instead.

Hilton do offer travel industry discount deals, but availability varies greatly by hotel, in many hotels it is often only possible to get a discount on a quieter day (i.e. Sundays).

Further Information

However, that’s the negatives out the way. The great advantage of Hilton is that they have such great reach, so many hotels across the globe – more than 500 hotels in 78 countries (at the time of writing).  In Europe they tend to focus on larger urban settings, but you will find stunning Hilton hotels in Bora Bora to Miami Beach.

Discounts of up to 50% are available for travel agents or airline employees and it is very straightforward for checking availability.

We find that Hilton are not overly generous in the availability for travel agent rates but there are some great discoveries to be found. For example, the popular Hilton Brighton Metropole seems to be available on Sunday’s only, however there are real savings to be made.

We ran a search and found that a King Guest Room was available with a 30% reduction on the summer sale price and a 52% reduction on the standard internet rate. A suite with a sea view was 49% less than the standard internet rate.

Beat that Trivago.

If the discounted rates are only available for a Sunday but you want the whole weekend you could of course ring the hotel so they can sort everything in one booking, rather than having to much around making two separate bookings online. Who knows, they might even give you an extra discount over the phone. 

Hyatt Hotels – Travel Industry Agent Discounts *Now updated for 2020*

January 1, 2020 By Anna 2 Comments

Link:  Hyatt Hotels Travel Agents Page Details: Simply Click on the big yellow Book Here Button and search! Book by: Ongoing Eligibility : Very strictly Travel Industry only rates – You will be required to present ID Potential savings: 50% is possible, though we rarely managed to find this level of discount. Between 10 and 30% more typical. Ease of use: Now more straightforward than ever!

2020 Update

Previously Hyatt required registration to their Travel Agents section, but they have now simplified access to Travel Agents rates making it straightforward to search and book your industry rate. We do of course emphasise that these are agent only rates – please take ID for when you check-in.

Predominantly an American chain, Hyatt operate more than 600 hotels in over 50 countries mostly Hyatt branding (Park Hyatt, Grand Hyatt) with their boutique brand Andaz hotels being the noticeable exception.

Travel industry discounts are available and so Hyatt should be one of the brands you check out for any trip to the United States.

A quick check for a random Saturday night revealed that many properties in New York were 10-20% lower than the best rate available rate direct.

Although these are not the largest of savings it is worth noting that the rates were consistently available, this a welcome change from other groups where his discounts are advertised yet they are often only available on quiet days.

Leisure hotels (like the Grand Hyatt Bali) were typically 30% off, so do have a play around. Also note that rates are offered in US$ and typically exclude local taxes and service charges.

Travelodge Boxing Day Sale – Save 30%

December 27, 2018 By Jon Leave a Comment

A belated Merry Christmas to all TID’ers!

As we know the offers will come through thick and fast through peaks, so here’s a quick 5 day offer from Travelodge – as always with them, first come first served!

Currently good availability – but 30% off most of their hotels for most dates from 01 Jan – 31 March.

You can see a full list of hotels offering the discount and dates here  and check availability here 

Remember that Travelodge do not offer Travel Industry exclusive rates so these offers are available to all – get in there quick!

Link:   Travelodge upto 30% off! Details:   Get 30% off stays from 1st January 2019 until 31st March 2019 Book By: Sale ends midnight on 1st January 2019 Eligibility:  Valid for everyone and anyone! Potential  Savings:  30% off Travelodge’s already great prices! Ease Of Use:  Incredibly straightforward – Use code  30OFF  at checkout

35% off Travelodge – for 48 Hours Only!

December 3, 2018 By richard Leave a Comment

As we have mentioned Travelodge do not offer Travel Industry Exclusive Rates. However, due to their low cost and spread (over 500 in the UK) it is worth considering them when booking your stays.

And to make them even more enticing, they have launched a 48 hour sale with up to 35% off – for travel from now until 27th March 2019.

But be quick – this offer runs until midnight tomorrow (4th December 2018) only, and as usual will be ‘first come first served’!

Link:   Travelodge upto 35% off! Details:   Get 15% off 1 night, 25% off 2 nights, 35% off 3-5 nights on selected stays between 13 th  December 2018 and 27 th  March 2019. Book By:  Midnight 4th December Eligibility:  Valid for everyone and anyone! Potential  Savings: Get 15% off 1 night, 25% off 2 nights, 35% off 3-5 nights  – currently good availability Ease Of Use:  Incredibly straightforward!

Radisson Hotels (including Park Plaza & Park Inn) Travel Industry Discounts

November 5, 2018 By Anna Leave a Comment

Link UK, Europe & Rest of World Hotels:   Radisson, Park Plaza & Park Inn Hotels Link USA & Americas Hotels: Radisson, Park Plaza & Park Inn Hotels  Details: Simply enter TVLAGENT in the Promotional Code Box Book by: Ongoing Eligibility : Very strictly Travel Industry only rates – You will be required to present ID at check-in Flexibility:  Card details required, free cancellation 24-48 hours prior to arrival (depending on destination) Ease of use: Exceptionally easy to use

Updated information for 2022

It is clear that the parent group (Carlson Rezidor) are now pushing their main brand – Radisson, and their sub-brands including Radisson Blu, Radisson Red, Radisson Individuals, however for those of us in the UK we will still be familiar with Park Plaza and Park Inn hotels (less so their final brand Country Inn). However, the Travel Industry Code searches all brands making searches simple, and the savings remain excellent at times.

Discounts are particularly strong in cities where the Radisson operates most hotels – such as in London.

Further details

This is our type of deal – generous and easy to use, savings of 50% are not uncommon.

You may not know Carlson Rezidor – but their brands have over 1,300 hotels in 70 countries (making it the 10 th biggest hotel group).

This group includes Radisson – largely luxury city based hotels in the US, Radisson Blu – the Radisson hotels based in Europe, Asia and Africa and Blu Edwardian Hotels which are 14 luxury hotels in the UK.

The mid range Park Plaza & Park Inn have hotels throughout the world – and frequently have agent rates for as little as £27.50 a night.

If you join their loyalty scheme Look to Book you can also earn award nights on most of their agent rates.

Most importantly – searching for agent rates is simple, with flexible searches and excellent availability. We just did a quick check for discounts in London in two month’s time and found savings at every hotel, with most in the 30 to 40% range.

Link UK, Europe & Rest of World Hotels:   Radisson, Park Plaza & Park Inn Hotels Link USA & Americas Hotels: Radisson, Park Plaza & Park Inn Hotels  Details: Simply enter TVLAGENT in the Promotional Code Box Book by: Ongoing Eligibility : Very strictly Travel Industry only rates – You will be required to present ID at check-in Flexibility:  Card details required, free cancellation 24-48 hours prior to arrival (depending on destination)

Premier Inn – Travel Industry Discount Rates

November 5, 2018 By Anna 2 Comments

Link: Premier Inn Hotels Book by: Ongoing Eligibility : As no Travel Agent Discounts, Premier Inn’s best rates are available to all Ease of use: Very simple

With over 700 hotels Premier Inn are amongst one of the largest hotel groups in the UK.

First and foremost – Premier Inn have confirmed that they do not off Travel Industry Rates – however, the range & price of hotels mean you should consider them in any of your UK Searches.

Increasingly Premier Inn has become a leading business hotel – which means many of their best deals are for weekend stays. They frequently run sales and the website is exceedingly easy to use – and very easy to check flexible dates and nearby options.

And of course for those of us about to go on our holidays, Premier Inn have a range of airport hotels, including a great option at Heathrow Terminal 5 for those of you off on British Airways flights.

It should be noted that the vast majority of Premier Inn hotels only have doubled bedded rooms – but unusually most have great family rooms. An interesting note for those of us with kids is that if they do not have Family Rooms in your chosen hotel – you can book a 2 nd room for 2 children under 15 at a 50% discount – although only on Friday, Saturday & Sundays – and you’d have to call the hotel directly to confirm this.

We’ll keep you in the loop with any specials that come up.

Marriott Hotels – Travel Industry Agent Discounts

 Link: www.marriott.co.uk Details: Enter code ‘’TVL’ under ‘Corporate/promotional code’ Book by: Ongoing Eligibility : Available to active travel agents, wholesale/tour operators, incentive company, commercial airline (an airline that is in the business of transporting passengers, not packages), and Hertz employees. Staff ID will be checked – check your ‘Rate Rules’ for appropriate ID. Potential savings: Up to 50% Ease of use: Very simple

The Marriott group is a global brand with more than 500 hotels (50 of which are in the UK) and locations as varied as Aruba, Armenia, Vietnam and Virgin Islands.

Marriott is also renowned for its agent friendly approach to agent rates, with generally great availability, and a simple to use agent discount search.

Discounts offered vary from 15%-50%. We ran numerous searches on the site and found good availability and many discounts approaching that magical 50% figure. Popular locations at busy times are unlikely to get that level of discount, but 20 to 30% is still common.

 Link: www.marriott.co.uk Details: Enter code ‘’TVL’ under ‘Corporate/promotional code’ Book by: Ongoing Eligibility : Available to active travel agents, wholesale/tour operators, incentive company, commercial airline (an airline that is in the business of transporting passengers, not packages), and Hertz employees. Staff ID will be checked – check your ‘Rate Rules’ for appropriate ID. Potential savings: Ease of use: Very simple

Travelodge – Travel Industry Discounts Rates

November 1, 2018 By Anna Leave a Comment

Link:   Travelodge Hotels Details: No special codes, but keep an eye out for ‘regular £19 per room’ deals Book by : Ongoing Eligibility: No Industry Deals, so all rates available to everyone and anyone Ease of use : Very simple with excellent availability

Travelodge might not offer travel industry discount rates, but their rates are so competitive to start with they should still be considered.

As the UK’s first budget hotel brand launched in 1985, Travelodge now has over 35,000 rooms in the UK as well as 11 hotels in Ireland and 6 in Spain.

Locations are spread across city centres, off main roads, and of course, near airports. With most Travelodge hotels recently renovated, the key thing to note is that most importantly the value – with sale prices frequently starting at incredibly low rates the hotels can offer be better value even that a competitor offering a heavily discounted rate.

Although Travelodge hotels are exclusively double bedded, they do offer family rooms with separate roll-out sofa beds.

For those shooting off on their holidays, Travelodge has an amazing range of airport hotels and if the hotels are not within walking distance of the terminal they will offer shuttle buses.

Link:   Travelodge Hotels Details: No special codes, but keep an eye out for ‘regular £19 per room’ deals Book by : Ongoing Eligibility: No Industry Deals, so all rates available to everyone and anyone! Ease of use : Very simple with excellent availability

New Travelodge offer: Winter rooms for £29 or less

October 27, 2017 By Anna 2 Comments

OK, we’ve highlighted that Travelodge do not offer Travel Industry Discounts before.

But, they are well worth keeping an eye on, especially when they launch offers as they can still be considerably cheaper than staff offers at other hotel brands!

And indeed they have just launched a new batch of £29 rooms (700,000 to be precise) – so get booking! This includes London – central London hotels from £34.

Link: Travelodge New Winter Rooms for £29 Offer Details: No special code required Book By: 31.03.2018 – for travel 02.12.2017 – 31.03.2018, but of course, first come, first served Eligibility:   Available for everyone Ease Of Use: Straightforward

Accor Hotels – Up To 30% Off For Travel Industry Employees

November 14, 2016 By Anna 2 Comments

The Deal At A Glance

Link: Accor Hotels Details: Once you have all necessary codes, just scroll down to ‘Pro Solutions’ then ‘Travel Professionals’. From here, you can make your booking and take advantage of the savings. Book by: Ongoing Eligibility: You will need to have a valid IATA/TIDS/CLIA/TRUE/RT code Ease Of Use: Once you’ve got everything in place, it’s very straightforward.

Further Details

With 4,100 hotels spanning 91 countries and five continents, Accor’s Hotel ranges offer a vast array of standards and styles. In short, there is an Accor Hotel to suit every type of trip and purpose for travel.

The sheer volume of hotels and range of options mean that the travel industry discounts available are hugely beneficial to people in our trade.

We have found that savings of around 30% are possible and there seems to be a far greater availability of discounted rooms than is the case with other leading chains.

It is even possible to get discounted rates on family-friendly European hotels where you can get a family of four in the same room (anyone who has tried finding a family friendly hotel in Rome will understand why this is important!). The Suite Novotel and Adagio ranges are the ones to look out for if searching for these family deals.

Registering for the discounts takes a little time – we talk you through the process below – but once that’s done the booking is straightforward.

Once registered, to book you simply head to the dedicated travel industry booking site where you can search and book against real-time availability

How To Register For Accor Hotel Discounts

To be eligible for discounted Accor Hotel rates you need a STAR (Special Travel Agency Rates) code, fortunately to get one you only need to fill out a simple form online.

You will need to enter either your IATA/TIDS or RT code. Of the abbreviations, if you only recognise ‘IATA’ and have your own – great. If you’re not IATA, you can apply for an ‘RT’ code – click on ‘Your Access Codes’ to download a straight-forward application form which have your contact details on.

Once you’ve received your RT code, you need a STAR code & contract… fortunately Accor now provide this for Independent Agencies:

Accor Images

The Deal Recap

Link: Accor Hotels Details: Once you have all necessary codes, just scroll down to ‘Pro Solutions’ then ‘Travel Professionals’. From here, you can make your booking and take advantage of the savings.Book by: Ongoing Eligibility: You will need to have a valid IATA/TIDS/CLIA/TRUE/RT code and also have proof of travel industry status at check in. Ease Of Use: Once you’ve got everything in place, it’s very straightforward.

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Money latest: JD Sports introducing tagging sprays in stores

JD Sports is introducing tagging sprays across its stores nationwide as part of a ramping up of security measures. Read this and all the latest consumer and personal finance news below, plus leave a comment in the box.

Tuesday 30 April 2024 21:02, UK

  • State pensions 'could be in doubt for future generations'
  • Average UK rents hit new high
  • Higher food prices warning as new Brexit checks begin
  • JD Sports introducing tagging sprays in stores

Essential reads

  • Turns out supermarket boss was right about self-checkouts
  • Swap rates are the reason mortgage rates are rising - what are they?
  • Gameboys and 1950s furniture: Items in your attic that could be worth small fortune
  • Money Problem : 'Builders won't repair dodgy work - what are my rights?'  
  • '£2,000 landed in my account' - The people who say they're manifesting riches
  • Train strikes in May - everything you need to know

Ask a question or make a comment

Taxpayers will be forced to cover £85bn of losses made by the Bank of England on its quantitative easing programme, estimates suggest. 

The £895bn bond-buying scheme was carried out between 2009 and 2021, and had aimed to support the UK during economic shocks - but it has been blamed by some for allowing inflation to take root. 

Recent chancellors have agreed to indemnify the Bank against any losses on the scheme - meaning the taxpayer will be paying for them.

Greene King is moving from its 200-year-old brewery in Bury St Edmunds. 

The pub chain will be opening a new £40m facility in a town that will produce more modern, fizzy craft beers alongside its traditional cask ales. 

The majority of Greene King's brewing will be moved to the new site, as part of a wider shift away from traditional cask beers. 

It will take about three years to complete. 

Butlin's has launched legal action against its insurance company Aviva over who foots a £60m bill.

The holiday park operator's Minehead resort was forced to close in September 2023 because of flooding caused by heavy rainfall.

It has said the incident cost the business £60m and has filed a claim at the High Court against Aviva for not covering the entire bill.

In legal documents seen by  The Telegraph , Butlins have questioned the definition of a "storm" and argued that a "named storm" had not been declared when the flooding happened.

Oil traders working for the US firm Exxon Mobil Corp in Brussels could lose their job if they refuse to move to London, according to reports.

Under the new proposal employees moving to the UK capital would be expected to be in the office five days a week.

But traders working for the oil giant said in an internal union-led survey they did not want to move to London due to "uncompetitive" pay and a "lack of flexibility", a union statement reads, according to  Bloomberg .

Up to 37 trading employees now face having their contracts terminated as a result of this.

ExxonMobil has said it "remains open to resolving the situation".

The sports retailer is introducing tagging sprays across its stores nationwide as part of a ramping up of security measures. 

It will start using SelectaDNA sprays, which can be misted on property and criminals. 

The sprays work by leaving a synthetic DNA and UV marker which does not wash off and can be used to link assets to owners and criminals to crime scenes. 

JD Sports said the measure was in response to a significant increase in shoplifting in UK.

In particular, it said it had seen a rise in "steaming" - where large gangs run into stores, threaten staff with violence and then run off with armfuls of stolen products.

The SelectaDNA spray reportedly does not cause any harm or damage to skin, clothing or property.

Lidl plans to open hundreds more supermarkets across Britain.

The German discount chain, which is now the UK's sixth biggest supermarket, is targeting thousands of new shoppers as it continues its expansion.

It currently has about 960 stores but is targeting more than 1,100 across England, Wales and Scotland.

In the coming months, the chain will welcome shoppers to new stores across the country, from Bristol, Birmingham and Berwick in Scotland. 

In London, it will be opening new stores in Wandsworth, Fulham, Hoxton and Canning Town.

But it says it is eyeing growth in more locations. If it successfully finds a good location, it is willing to pay a finder's fee of 1.5% of the total freehold purchase price, or 10% of the first year's rent for leaseholds, which would equate to £22,500 for a completed £1.5m site purchase.

A finder's fee can be paid to any member of the public who identifies a suitable site for it to open a new store.

Richard Taylor, Lidl Great Britain's chief development officer, said the company was "continuing to invest in new locations whilst exploring innovative routes to expansion".

"As we look ahead, we're excited to welcome even more new shoppers to our existing stores, as well as those we're planning to open across the country in the coming months and years," he said.

Mortgage approvals rose to 61,300 in March - the highest number since September 2022.

They had been at 60,500 in February, according to the Bank of England.

While this is positive, industry experts are reporting that uncertainty over the direction of interest rates this year is prompting caution.

Mortgage rates have risen in the last few weeks as markets went from pricing in a base rate cut in June to thinking it may be August.

US inflation proving stubborn has led to concern here that the path to the 2% target may be bumpy - meaning the base rate may have to stay high in order to constrain spending and thus ease price rises.

Forecasts of three cuts this year from the current 5.25% have been scaled back to two.

Hina Bhudia, partner at Knight Frank Finance, said: "The sun is out and buyers are returning from their Easter break, so we'd usually expect these to be the busy weeks before the summer; however, the uncertain outlook for mortgage rates will undoubtedly weigh on activity.

"It's not just buyers that are frustrated. The lenders are eager to rebuild their businesses after a subdued 2023; however, they are constrained by stubborn inflation and the resulting impact on their cost of funding."

Following Sainsbury's boss Simon Roberts' claim that Britons like self-checkouts...

...we asked Money blog readers, and followers of our LinkedIn page , for their views.

While our inbox was filled with a lot of hate for self-checkouts, our poll of 2,613 people on LinkedIn shows that, overall, Mr Roberts was right...

We have rounded up some of your views here...

Self-checkout is the worst thing to ever happen. Standing like a child with your hand up, one person running up and down to deal with this, underpaid and understaffed. Janice Karaaziz, Money reader
I'll go out of my way to find a cashier, largely because my five-year-old will make a beeline for pressing the scales. I've noticed my local store having fewer and fewer cashiers on - and on many occasions there have been none. We need to think about inclusivity here. There will be some customers who will need a cashier for various reasons, so would expect there to always be at least one on, so stores are accessible for everyone. KaraS, LinkedIn
I try and limit my social interactions as much as possible, out of choice, so most of the time self-checkouts are convenient. Alasdair Corton, LinkedIn
They induce a level of irritation. Sometimes I can be heard answering them back. In general I choose to have my items flung at me by Lidl checkout staff. Siobhan W, LinkedIn
Self-checkout provides a great alternative to customers, especially those with smaller quantity purchases, but personally I think it's sad to see them dominate the front of Sainsbury's stores. In my opinion, it's the removal of one of the greatest ways to provide good customer service. Tom Tregay, LinkedIn
Self-checkouts are great, I will always choose to use one instead of a normal checkout. Some are easier to use than others, the Co-op and Tesco have easy-to-use interfaces whereas Morrisons is a bit more complicated. They'll evolve over time and there's always staff to help out. CG, LinkedIn
They're useful, but when they trigger a "basket check" on nearly every single shop, they begin to lose attractiveness Nicola Bradley, LinkedIn
I tend to argue with them lol. Especially when I can't get it to scan a particular item or you need approval for something so you have to wait for assistance anyway! Plus as a disabled customer I have to juggle my crutch, shopping, scanning and packing. With reduced staff in shops you can't always get the help you actually need. Elizabeth Graney, LinkedIn
Definitely not. So when I go to Sainsbury's I see a lot of older people and no way do they want to use self-checkouts. My mother lives in assisted living and all of them say they hate them. Get a grip, Simon - they are not faster, they are saving you employing more staff. I know my aunt has stood at an Asda til they put a staff member on there. Andrea Robinson, LinkedIn
Robots should never replace humans. Interaction is essential... if machines replace people no one will work, it's a crazy dangerous road. Nicola van Eerten, LinkedIn
The self-checkout is a money-saving exercise. They cut back everywhere. No staff on the shop floor to help. Paper bags in the veg section now cost 30p - for absolutely no reason. Mark, Money reader

Average advertised rents have hit a new high in the UK, according to Rightmove .

Across Britain, excluding London, the average monthly rent being asked for a property coming on the market in the first quarter of 2024 was £1,291, the property website found. This was 8.5% higher than a year earlier.

The average advertised rent in London also hit a fresh high in the first quarter of 2024 at £2,633 per month but this was just £2 higher than the average asking rent in the fourth quarter of 2023.

While average rents have climbed, the property website says there are signs that the pace of the increases is slowing.

There are also indications that more landlords are having to reduce their asking rents, particularly for bigger homes, to meet what tenants can afford.

Rightmove's director of property science, Tim Bannister, said the rental market was "no longer at peak boiling point" but it "remains at a very hot simmer".

By James Sillars , business reporter

The index rose by 0.3% to 8,174 points at the open.

Only real estate stocks were proving any kind of drag.

Among the companies leading the gainers was HSBC.

It climbed by more than 2.6% in London after the Asia-focused bank announced a rise in shareholder awards despite a slight drop in quarterly profits.

The share price reaction also reflected news that chief executive Noel Quinn is to retire - read the full story of that here ...

Among the other gainers in early dealing was Whitbread.

The Premier Inn owner's annual results revealed a sharp rise in annual profits but also a new focus on hotel investment at the expense of its restaurant brands.

That was placing 1,500 jobs at risk, it warned - read the full story here ...

By Jess Sharp , Money team

We first came across Tom McPhail when he posted this on X... 

The pensions expert appeared to be suggesting state pensions were at risk of disappearing.  

After speaking to him on the phone, he confirmed that was exactly his concern, warning something needed to be done sooner rather than later to avoid a "catastrophic" situation.  

He described state pensions as a social contract – each generation pays taxes and national insurance, which funds the pensions of today's older people, and they hope the following generation will do the same for them.

But with population growth slowing, there's a worry there may simply not be enough people to keep the system afloat in the future.  

"There's a significant demographic shift going on in the UK. It started before the Second World War, cohorts of people born in the 1930s have been experiencing significantly longer lives than was the case prior to that, so people now in their 80s are living quite a lot longer," he said. 

"But at the same time, we've got fewer children coming through. And so this exacerbates the shift in the age of the population."

He said if he was 20 today, he would be "sceptical" about the promise of a state pension because he isn't sure how it's going to be paid for.  

At the moment, the state pension system costs around £120bn a year and more than half of retired people rely on it to make up at least 50% of their income, he added.  

Over the next 50 years, Tom predicts the proportion of GDP the state spends on older people will increase from around 16% to 25%.  

"I hesitate to use the word unsustainable, but it will certainly start to look challenging," he said.  

"If we suddenly switched off the state pension or significantly reduced it, people would be in trouble, so the government can’t do that. 

"You can't keep on progressively ratcheting up a more and more generous state pension. The costs of state pensions is going to become increasingly difficult for the younger cohorts to bear."

He pointed to a few ways to potentially salvage the state pension – policy change, more babies being born or people working until they are in their 70s.  

"Politicians are going to have to make decisions about how to get out of this kind of political bind," Tom added. 

"Time and time again it's just kick the can down the road on the pension question, just put a sticking plaster on it and let the next government deal with the problem. 

"You can't keep doing that. So I would really like to see, on the other side of this forthcoming general election... whoever's in power, in collaboration with whoever's in opposition, to just really open it up to some honest conversations about where the demographics are going to take us." 

He does note there is one piece of good news: "This happens quite slowly, so we do have time on our side." 

Basically, swap rates dictate the pricing of fixed-rate mortgages.

Lenders, such as banks and building societies, borrow in order to lend.

They borrow from financial markets and often these transactions are made using Sterling Overnight Index Average (SONIA) swap rates, which can move around.

By contrast, most domestic mortgages are set on what is known as a "term" rate – in other words, the borrower knows how much interest they will be paying for a set period of time.

To avoid a situation where the SONIA rate goes above the rate it is charging borrowers, which would leave the bank or building society lending at a loss, the lender will seek to enter a "swap" arrangement which protects them from such a situation.

Under such agreements, two parties exchange cash flows with each other. The lending bank will swap the variable payments it may make to service a mortgage (which is fixed to the SONIA rate) for payments at a fixed rate. This insulates the lending bank from unexpected increases in the SONIA rate.

Once a deal is struck based on the swap rate, mortgage providers set their fixed deals for customers, with their own profit margin priced in.

How are swap rates decided?

Swap rates are based on what the markets think will happen to interest rates in the future.

When they go up, so do the rates being offered on the high street, as we have seen in the last week or two amid uncertainty over whether forecasts for a summer base rate cut are accurate.

Read other entries in our Basically... series:

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COMMENTS

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    Village Hotels - New Offers. April 15, 2021 By Jon Leave a Comment. Village Hotels - a UK Based chain with hotels in 27 locations (predominantly city / out of city based - with 4 alone in Manchester) has 2 just launched 2 offers that may be of interest. They are not exclusively for the UK Travel Industry, but can offer excellent value, so ...

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  10. TRAVEL INDUSTRY RATES

    TRAVEL INDUSTRY RATES - Exclusively for Employees of the Travel Industry: You don't need to be registered to view special rates and book. You can use all promocodes and book directly on the websites of hotels, car rental companies and other suppliers. Airliner, travel agents, hotel employees - take a look! Book the best hotel and car rental deals here at discounted prices - available to the ...

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    February 20, 2020 By Jon Leave a Comment. This stunning 5* Langkawi gem has just released Travel Industry Rates - including a Stay 3 pay 2! Valid for travel 15 March - 20 June 2020 (blackout 06-16 April) - details below regarding how to book. Filed Under: Hotel Deals Tagged With: Datai, Langkawi, Malaysia.

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    Discount is 15% off for North America, UK, Ireland, Germany, France and Spain. Alamo's US Gold Package requires a minimum 4 day rental period and excludes a tank of fuel in Manhattan. Travel Industry Staff ID will be required at time of rental to qualify for the discount and the rental does not qualify for frequent flyer programmes or cashback ...

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    Welcome Travel Industry Services Clients! We have recently combined Travel Industry Services (TIS) with Touchdown Holidays to form Touchdown | Travel Industry Services. We hope you like our new look and trust that you will find even more fantastic travel deals than ever before. If you are visiting us for the first time, you must register to see ...

  15. Travel Industry News and Travel Jobs from Travel Weekly

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  16. Hilton Hotels

    Potential Savings: 50% is reportedly possible, though the offers are often only for quieter days. Flexibility: Card details required, but free cancellation upto 23:59 on day before arrival. Ease Of Use: Straightforward, however availability can be limited. Travel Industry employees can save up to 50% - yes, 50%! - when they stay at Hilton hotels.

  17. Onyx strengthens travel industry partnerships with UK sales mission

    By TTG Asia. / Posted on 29 April, 2024 14:39. Onyx Hospitality Group has recently completed a dedicated UK sales mission, aiming to foster strong relationships with key tour operators in the UK travel industry. Further building on key relationships with companies such as Kuoni, Best at Travel, Southall Travel, TUI, Destination2 and BA Holidays ...

  18. Radisson Rewards for Travel Agents

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