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    Rouse of Interfinancial Limited, the online loans brokers.

    Whilst some savings accounts offer interest in the region of 5% or above, in reality most offer far less.

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    Recent research commissioned by the Alliance & Leicester Building Society shows that potential first time buyers are failing to extract themselves from debt before making that first foray into home owning.

    YouGov questioned over 600 potential first time buyers on behalf of Alliance & Leicester to find out their saving and spending habits, and the news was not good. Whilst 70% were actively saving up for a deposit on their new home, 75% admitted that they had outstanding debts to the tune of nearly ?6000.

    "Whilst saving is a good thing to be doing, it is pointless concentrating on boosting your savings when you are paying a fortune in credit-based interest," says Abbi Rouse of Interfinancial Limited, the online loans brokers.

    Whilst some savings accounts offer interest in the region of 5% or above, in reality most offer far less.

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    that first foray into home owning.

    YouGov questioned over 600 potential first time buyers on behalf of Alliance & Leicester to find out their saving and spending habits, and the news was not good. Whilst 70% were actively saving up for a deposit on their new home, 75% admitted that they had outstanding debts to the tune of nearly ?6000.

    "Whilst saving is a good thing to be doing, it is pointless concentrating on boosting your savings when you are paying a fortune in credit-based interest," says Abbi Rouse of Interfinancial Limited, the online loans brokers.

    Whilst some savings accounts offer interest in the region of 5% or above, in reality most offer far less.

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    ts, and the news was not good. Whilst 70% were actively saving up for a deposit on their new home, 75% admitted that they had outstanding debts to the tune of nearly ?6000.

    "Whilst saving is a good thing to be doing, it is pointless concentrating on boosting your savings when you are paying a fortune in credit-based interest," says Abbi Rouse of Interfinancial Limited, the online loans brokers.

    Whilst some savings accounts offer interest in the region of 5% or above, in reality most offer far less.

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    "Whilst saving is a good thing to be doing, it is pointless concentrating on boosting your savings when you are paying a fortune in credit-based interest," says Abbi Rouse of Interfinancial Limited, the online loans brokers.

    Whilst some savings accounts offer interest in the region of 5% or above, in reality most offer far less.

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    Rouse of Interfinancial Limited, the online loans brokers.

    Whilst some savings accounts offer interest in the region of 5% or above, in reality most offer far less. Compare this with the mid-range 16.9% interest charged by most credit cards and typical 29.9% charged by store cards. The case is particularly bad for those with multiple credit accounts through catalogues, loans and overdrafts where minimum payments are being made each month.

    "By all means keep saving," continues Rouse. "But make clearing your debts a bigger priority. Any mortgage provider will be looking hard at your outgoings when you apply. If they see large amounts of outstanding debt, they will be less willing to provide that mortgage."

    However, first time buyers should not worry excessively about having either outstanding credit or a history of borrowing to th

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