I've booked a holiday in Turkey but news about the threat to Britons from Isis there is worrying. Can I cancel it?

Q. On Friday I booked a holiday in Turkey for August through the On the Beach website. On Sunday, my daughters were very scared by a story in a newspaper about the threats to British holidaymakers, so I tried to cancel. But On the Beach said it would cost £1,760 and that we cannot transfer our booking to a different destination. I'm at a total loss as to what we can do and will be so upset if all our money will be lost and we can't go away. Name withheld
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