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People who are planning next year's holiday may want to take a loan out so they can book it as soon as possible, as the Association of Independent Tour Operators claims all the best deals will be snapped up early.

Spokesperson Ian Bradley said the current economic climate means that leaving booking to the last minute will not save you money.

He stated: "If you are thinking of going on holiday next year start thinking about it now."

This comes after widespread reports claiming that the average family holiday has risen by as much as £400.

A survey by ebookers found 51 per cent of people are booking their holiday early as a result of the credit crunch.

Meanwhile, 90 per cent of those questioned said that taking at least one holiday a year is one of the five most important factors that contribute to their overall happiness.

Homeowners who want to get a holiday booked early but do not have the cash available at the moment may find secured loans to be a cost-effective solution.