Consolidating debts into a mortgage can appear to cost a lot less, but people may not understand the cost and risk implications of remortgaging their home in order to pay off shortterm debts, according to consumer director Mary O'Dea.

"Spreading the cost of short-term debt such as credit card bills or a personal loan over the life of your mortgage will cost you considerably more in interest in the long term, " she said. "Our new guide to mortgages shows that consolidating 58,000 of short term debts into a 20year mortgage could cost you almost 12,000 more than paying the loans over the original term because you will be paying off the loan for a lot longer."

If you need to consider this option, ask your lender if you can split the new loan so that you pay off your personal loans over a shorter term, she advised.

TAXING TIMES Many people in Ireland are not aware of the tax credits for which they are eligible and may be losing out each year by not claiming for them, according to the Irish Taxation Institute, which is hosting its 'Tax Return Week' from 26 March- 1 April 2006.

The week aims to raise public awareness of the key issues around taxation such as: What tax credits/relief are you eligible for? How and when to file tax returns? How to use the online tax return system and the necessity of submitting information to advisers in sufficient time to prepare tax returns.

It will also provide tax tips for consumers, and PAYE taxpayers will get clear advice on the best way to interact with Revenue to ensure they get all the credits and allowances they are entitled to and tax refunds owed to them.

HOLIDAY COVER With many people planning their summer holidays, EBS Building Society has launched a new portfolio of travel insurance products.

These include discounted travel insurance for those who already have health insurance with overseas cover, a travel insurance product for those aged over 65 and travel insurance for backpackers.

EBS TravelSave Insurance is targeting those who already have private medical health insurance with overseas cover, and allows them to avoid paying for certain elements of insurance cover twice when they take out travel insurance.

The new EBS travel insurance for those aged 65 and over offers medical expenses benefit of up to 1m over and above private medical insurance and availability on a single trip basis. This means travellers can buy the cover they need when they need it and not have to buy an annual policy. A single trip policy costs from as little as 23.

Backpacker travel insurance provides sports and activities cover, as well as up to 5 million medical expenses cover. It is designed for those planning to travel from 45 days up to 13 months and costs from 20 for a policy.

INSURANCE SAVINGS

Insurance premiums continue to fall across all major personal insurance categories, according to the latest figures from the Irish Brokers Association (IBA).

Premiums are now at levels akin to those of the early 1990s, with a marked decline in home insurance premiums since 2003 and motor premiums since 2001 - the years in which insurance premiums peaked in these categories.

The most dramatic price reductions were achieved in the home insurance market, with home policies in some areas of Dublin falling by up to 42%, and premiums in Cork being cut by up to 29%, since 2003.

The findings show that, on average, premiums have been reduced on all home insurance policies by at least 13% over the three year period.

Since 2001, young male motorists, who have historically experienced some of the highest motor insurance premiums, have experienced savings of up to 32% in Dublin and up to 45% outside Dublin. Female drivers have seen a reduction in premium of at least 20% over the five year period.

Overall, motor customers have saved on average, 20-35% on premiums between 2001 and 2006.