Easiest Ways to Save up to £30,000

Find the most competitive mortgage

The most expensive item you’re ever likely to buy is your home. If you’re not in the privileged position to pay cash, make sure the loan you use to finance it is the most competitive available.

If you are paying your lender's full standard variable rate (a rate that rises and falls with interest rates) you are probably paying hundreds of pounds a year more than you need to.

There are many deals to choose from, and while you need to check the small print for hidden catches, this is a painless way to save a lot of money.

If you can afford to make overpayments on your mortgage – do so. You'll clear your debt several years early and make massive savings. For example, if you borrow £100,000 at 6% over 25 years, you'll pay it back at £643 a month. The total interest bill on top of your existing loan will be £93,000. But if you can overpay by £100 a month you'll clear the loan in fewer than 19 years, saving a staggering £25,000 in interest.

Why not take a look at our collection of mortgage offers to help you find the right mortgage for your needs.

Clear your credit card debt

If you can’t clear your credit card debt every month, take out a low-cost loan as an alternative. A debt of £2,200 on a credit card with an annual percentage rate (APR) of 15% over three years will cost £545 in interest. A loan at 6% will cost £209 - a saving of £336.

Take care to get a loan that does not force you to take out payment protection insurance – an unnecessary and expensive add-on from loan companies.

Inspect our loan deals to find out what deals are available to you.

Cut the cost of your fuel bills

The domestic market for fuel is competitive, and you can change supplier and cut costs by comparing prices.

Install a water meter

If you have a large home with few occupants you may be surprised to learn you could halve your annual bill with a meter. Our Water Supplier listings will help you to find out what other rates are available.

Cut your home phone bills

Cable companies could save you hundreds of pounds a year on the standard BT price by bundling phone, television and broadband together as a package. Find out what broadband deals are on offer.

Cut your mobile bills

If you hand over £50 a month to your mobile phone company, that's £600 a year. But you can buy a pay-as-you-go phone for as little as £30 and only pay for the odd call as and when you need to.

To find out more about pay-as-you-go phones take a look at our Mobile Phone offers.

Think hard about contents insurance

Think hard about whether you really need contents insurance - which unlike travel or motoring cover is entirely optional.

It costs hundreds of pounds a year, there is always an excess on any claim, and if you make a claim, your premiums will shoot up. If you do want peace of mind, the internet has made finding cheaper insurance easy, and you can browse our selection of Home and Contents Insurance offers.

Play smart with breakdown insurance

It’s far cheaper to join a recovery service before you break down. Check out sites such as Money Supermarket for the most competitive quotes, but it may well be that the market leaders offer the best rates (click here to see our Car Breakdown Insurance offers). For more details, see the UK Net Guide feature on What to do if You Break Down.

Further reading

For more information, see the UK Net Guide features on:

• Saving
• Debt Consolidation
• Dealing With Debt
• Saving Energy in the Workplace
• Utility Companies
• Getting a Mortgage
• Choosing a Credit Card