I use a Canon Pixma MG5350 which uses 5 ink cartridges (so you don't need to replace all of the colours when one runs out) and produces excellent results with 'third party' inks costing just £6.24
for a set of all five(!) from here:
http://inkredible.co.uk/
(That's the regular price when purchasing 4 or more packs but they're actually on special offer at £4.80 for all five ink cartridges at the moment).
The current recommended 'Best Buy' in Computer Active magazine is my printer's 'little brother', the Pixma MG4250 (which is around £50 in Argos) but that uses a single ink cartridge for the colours, with replacements (even 'third party' ones) costing considerably more than I'm paying.
So, like Treetops68, I recommend seeking out a Canon Pixma printer which uses multiple cartridges. It will cost a bit more than a two-cartridge printer but you'll quickly recoup the additional outlay and go on to make some big savings.