Eight Tips for Saving During the cost-of-living Crisis

Times are tough at the moment with the rising cost of living such as energy bills, food, and petrol. The team at Mortgage Required have come up with some tips to help you save a few pennies. Even if you’re not feeling the strain, it is always good to put some of these into practice.

1) Budget
Keep a monthly budget to track your spending and set a limit. This will allow you to see your income, outgoings, spending habits, and understand your overall financial position.

2) Eat In
Keep eating out for special occasions and try cooking at home as much as possible as it can be a cost-effective way to save money. Go one better and plan your meals in advance buying ingredients in bulk where you can save money.

3) Reduce Energy Usage
Turn down your thermostat, turn off lights when you leave a room, and use energy-efficient appliances as reducing energy usage will reduce your monthly utility bills. Also, switching appliances off standby can save around £40 a year.

4) Shop for Deals
Be sure to look for deals in the supermarket, offers on the high street, and voucher codes/ money-off coupons when shopping online to get the best deals. It’s also worth seeing if you can lower your phone bill, or broadband by contacting your provider and haggling for a better deal.

5) Subscriptions
Take a look at your subscriptions and see if you can cut back on any of those you don’t currently use or need. This could be streaming services, magazine subscriptions, and gym memberships.

6) Entertainment
Now more than ever we don’t want to lose doing things that bring us joy. However, there’s no harm in getting creative when looking for entertainment options, this could include; visiting local parks, attending community events, or having a games night!

7) Mortgage
If you don’t have an early redemption penalty to pay - contact us straight away to see if we can save you money on your mortgage payments. Despite the turbulence in the market - mortgage rates are currently falling. Call us on 01628 507 477 or email team@mortgagerequired.com

8) Insurance
Make sure you are getting the best deal on your insurance policies. Contact your car and Pet insurers to see if they offer discounts for existing customers. Home Insurance is another area you can save money in, we currently have an offer of 20% off Home Insurance for existing customers

Recent posts

The Financial Conduct Authority (FCA) has shared new changes to mortgage rules with the aim to simplify remortgaging, and encourage competition within the mortgage market.

Lloyds Banking Group has jumped on the bandwagon to boost lending for first-time buyers as they allocate an additional £4 billion to help first-time buyers on to the property ladder.

As the Loan to Income (LTI) cap has been increased to 5.5 times income, applicants who fit the First Time Buyer Boost criteria could borrow up to 22% more. 

The government is introducing mortgage reforms to boost homeownership, stimulate economic growth, and make the housing market more accessible, especially for first-time buyers.

Chancellor Rachel Reeves has announced the most significant mortgage reforms in over a decade—great news for those dreaming of homeownership.

Nationwide ease their ‘Helping Hand’ mortgage designed to help first-time buyers get onto the property ladder by allowing them to borrow up to six times their income.

 

Keeping the kids entertained over the six-week summer holidays isn’t always easy, especially with the cost-of-living making it even more difficult. Below is a list of fun, inexpensive ideas to do over the break

The Financial Conduct Authority (FCA) has published a discussion paper about the future of the mortgage market in a bid to improve access for first -time buyers, self-employed, and those borrowing in retirement.

Ever wondered where the most reasonably-priced towns for families to buy are? Property company, Zoopla has identified the top 10 towns for families to live in the UK by looking at the most affordable towns, and how many people are looking in that area.

There was a 32% increase last year in 100% loan-to-value (LTV) mortgages which are mortgages that require zero deposit. According to a recent report by chartered accountants and business advisers, Lubbock Fine, the reason behind this is buyers simply struggling to save enough for a deposit.