It’s a truism of the housing market that the larger the deposit you have, the better the mortgage you will be able to secure. Nonetheless, it is still possible to get a mortgage with a deposit of just 5%. In fact, borrowers with a small deposit have plenty of choices - there are 269 95% loan-to-value mortgages today, compared to just 109 three years ago. Saving a little money each month will help you soon build up a decent deposit. Here are a few ideas on how this can be achieved: 1) Cut out the daily coffee Do you pop into Costa on the way into the office? You aren’t alone - thousands of us do it on a near daily basis. If you can cut out that daily coffee, you’ll save a couple of pounds a day. Over a month, that can really add up. Potential saving per year = £700+ 2) Make your own lunch Similarly, if you often buy a sandwich for lunch, try to instead make your own. Potential saving per year = £1200+ 3) Trim your bills Have a look on a comparison site to see if you can save a few pounds every month by switching your mobile network, your broadband, your energy bill, etc. Potential saving per year = £100+ 4) Shift your debts If you have outstanding credit card debt or you’re using your overdraft, see if you can shift that debt to a 0% credit card or at least one with a cheaper rate. Potential saving per year = £1,000+ 5) Get a water meter According to Ofwat, having an accurate water bill could save you around £100 a year. Potential saving per year = £100 6) Cut your food bill Switch to a cheaper supermarket, and stick to the items on your shopping list! You’ll be amazed at how much you save resisting all of those tempting two-for-one offers that you don’t really want. Potential saving per year = £1000+ 7) Recycle your old tech Got an old mobile or tablet sitting around? Sell it to a mobile recycling site. Be sure to do your research on the site first, as some have a dodgy reputation for changing their offer once they receive the hardware. Potential saving per year = £100+ 8) Flog your junk Whether it’s old CDs and DVDs or that jumper you’ve never worn, if you don’t use it, sell it! You can do it the old fashioned way through a boot sale, or online through eBay. Potential saving per year = £50+ 9) Cut down on the nights out/takeaways Focus on why you need to save the cash - it makes it easier to turn down that night at the pub. Potential saving per year = £6000+ 10) Dump Sky Honestly, when was the last time you watched those extra channels? Potential saving per year = £600+ Total potential annual savings = £10,800+ If you'd like to talk about your next house move call Ramsdens conveyancing to get your moving on 01484 821 500 or email getmoving@ramsdens.co.uk.