Martin Lewis urges people with July or August holiday planned to 'cancel and re-book'

Martin Lewis says people with a holiday booked in July or August could get a whopping £334 back. The BBC Sounds podcast host appeared on ITV This Morning on Tuesday (July 2) where he chatted to Ben Shephard and Cat Deeley, his co-presenter, during the second show of the week, which aired from 10am til 12.30pm.

Martin has dubbed the hack "the re-book trick" - which is to cancel and then re-book a car hire or hotel if you spot it for a cheaper price than when you bought it. Martin told the show: "If you book a car hire or hotel, go and check whether the price is cheaper now than when you bought.

"If it is, and you've got free or cheap cancellation, re-book and cancel. The best example is Michael (who) emailed me having followed this tip." According to Martin, Michael wrote: "In January, I booked a two-week car rental in the USA, at a cost of $1024 (£807).

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"In May, I checked and the same deal was now $575 (£453). I cancelled and re-booked at the lower price." He advises: "So keep checking regularly, and you may suddenly find where you're going is available for a lot cheaper.

"So just book it again, and cancel the original booking where it's more expensive." You could take off on a cheaper holiday if luck goes your way with a late price drop. In another hack, couple Jane and John swap homes rather than looking for hotels.

The pair signed up to HomeExchange in 2023, allowing users to swap homes for free. Jane and John have since stayed in 33 homes in the UK and overseas without spending a single penny, according to the Sun newspaper, who interviewed the pair amid the ongoing Cost of Living crisis in the UK.