Savvy Savings Tips to Get Mortgage Ready

Picture of a glass jar on a kitchen countertop full of euro coins and a pile of coins beside it on the table.

25 May 2015

Posted in:  Mortgages

If you’re a first time home buyer saving for a mortgage, any extra boosts to your savings will be of great help to you when you’re trying to reach your goal. If you take a look at what you’re spending, a few small adjustments can really make a difference on your account balance.

Take an organised look at your expenses and you’ll be surprised how far it’ll go. Take the money you save plus any extra you can afford and put it into a regular savings account. You’ll be impressed with how much progress you’ll make in a year.

AIB Mortgages bring you a quick guide to fast track your mortgage savings with our simple savvy savings tips below:

Kill those bills
Many of us don’t feel we have the time to compare all our service providers for our phones, TV, internet, gas, heating and electricity, but it’s actually very easy to do now if you go online. Using price comparison websites you can quickly spot a better deal and then switch easily online.

Cut the waste
I’ll bet you didn’t know that every year, Irish households waste €700 worth of food every year because it’s either leftover or past its use-by date. For lots of handy tips on how to cut your food bills, visit

Control car costs
By shopping around for petrol prices and driving smarter, there are significant savings to be made on the running costs of your car, especially

when you look at them over the course of a year. For more tips on driving in a more economically friendly manner, click here.

Insure you save
Take note of when your car insurance is due to be renewed and start comparing the cost of the same cover the month before. It’s also important to make sure you’re not overestimating the resale value of your car, as this would drive up the cost of your insurance.

Health is wealth
Look at the current healthcare insurance plan you have and see if your current plan is covering you for some areas you may not need. Compare the prices of other plans from different providers to see if there’s a better deal out there for you.

Settle those debts
It’s all well and good to be on a super strict savings regime, but you won’t see much progress if you’ve large credit card bills with high interest rate repayments going out. Tackling debts like this head on will help you save big over the course of a year.

Get a savings account
Ensure you’re getting the best interest rates possible on your savings by opening a dedicated savings account. For a savings account to meet all your needs, click here to see AIB’s full range of savings accounts.

For more information on Mortgages from AIB, visit our website here. If you’re a first time buyer considering buying your first home in Ireland, take a look at our AIB First Time Buyers Guide and use our AIB Mortgage Calculator to find out how much you may be able to borrow.

Allied Irish Banks, p.l.c. is an authorised agent and servicer of AIB Mortgage Bank in relation to origination and servicing of mortgage loans and mortgages. AIB Mortgage Bank is regulated by the Central Bank of Ireland. For regulatory information, please see here .

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