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Cancelling a holiday booked online

I booked a holiday online with Virgin Holidays, and paid a deposit. The holiday used BA flights. Out of interest, I wondered how much BA holidays would charge. It was about £1200 less. So, the day after I booked the Virgin holiday, I cancelled it and booked with BA. Virgin said I have to lose the deposit. Even with that lost deposit, I am still over £900 up on the deal.
I thought nothing more of it, until I saw Martins programme on ITV, and he said that buying off the internet gives different protection to buying in a shop. I think he said that you have 14 days to change your mind and return the goods purchased.
Should that have applied to my Virgin deposit as well, even though nothing was physically delivered?

Thanks

Steve Tymms

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