Smart Money
This week's top tip - by Andrew Ellson, Deputy Personal Finance Editor
Struggling first-time buyers are saddling themselves with increasingly large amounts of debt to get a foothold on the property ladder. Runaway house prices mean people buying their first home are now borrowing an average of 3.21 times their salary, up from 2.4 times five years ago, according to the Council of Mortgage Lenders. Consumer and debt counselling groups criticised lenders for putting thousands buyers at risk of serious debt by lending them too much money

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  • Compare mortgage rates to find the best deals

    Money News
    By Grainne Gilmore

    Holiday drudgery
    Mums who feel more tired when they return from a family holiday than when they left home may identify with new research out today from the Post Office. It says that on average, mothers on a week-long family break will actually work - doing the cooking, cleaning and looking after the kids - for 42 hours. Taking out adequate travel insurance should cut down on any additional stress if things go awry while you are overseas.

  • To find the best travel insurance deals, visit the moneyshop
  • Find out how you can make free phone calls from abroad here

    Does my mortgage look big in this?
    Friends are more likely to turn to each other for financial advice than fashion tips, according to new research from Alliance & Leicester. Nearly a quarter of people would take their mates' advice on savings accounts, while 21 per cent would ask a friend about their home loan. To amaze your friends with your knowledge of the best buy accounts and loans, click here


    Money briefing

    The best of the week from The Times, Sunday Times and Times Online

    Black box chops insurance bills for young drivers
    Young motorists can slash their insurance premiums by fitting their vehicles with black boxes that "spy" on their driving habits

    OFT slams Payment Protection Insurance
    Most payment protection insurance sold alongside credit cards and loans is a rip-off, according to a damning report from the Office of Fair Trading

    Fans save and their football teams score
    The football season has arrived, but not all clubs are giving premier-league rates on their branded credit cards and savings accounts

    Holiday insurance probe
    The government has announced that it is launching an investigation into the sale of holiday insurance by travel agents. What has taken it so long?

    Supersize your mortgage!
    Homebuyers are being offered huge home loans in exchange for a slice of the profits when they sell their home


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    August 9, 2006


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