Martin Lewis issues cash saving advice to people in houses with three bedrooms or more

Martin Lewis has shared a tip on how three bedrooms or more households in England and Wales can save money on their bills.

The finance expert, 52, claimed those who followed his advice could pocket an extra £500 a year if they monitored one key component.

Lewis claimed that if there are fewer people living in a property than the number of bedrooms in the house, then water bills could decrease.

Speaking on BBC Radio 5 Live to Adrian Chiles, Lewis said: “The first question you ask yourself is, "Do you have more or the same number of bedrooms in your property than people?”

The money expert explained that annual water bills are “based on the value of your property”. So, the bigger the house, the bigger the bill – even if the usage is low.

Lewis recommended that those who have a lower room-to-resident ratio should consider having a water meter installed rather than paying the water company’s estimation.

“Very simply, you’ve got a big house, not many people living in it. It’s likely to be cheaper if they’re measuring your actual water usage. It’s going to make it a lot cheaper doing it that way,” he said

.In order to monitor water usage, Lewis recommended listeners use the Consumer Council for Water's Calculator to see whether they were paying more than they should.

‘Just as an example, Ursula got in touch with me and said, ‘I got a water metre fitted as there’s only two of us in a three-bed house. We now pay £16 a month instead of £60 a month,” Lewis recalled of a recent caller.

“That’s £500 a year cheaper - nothing to be sniffed at,” he added.

While pipes in flats can obstruct water metres from being installed, Lewis said savings are still possible as residents can request an “assessed charge” where water companies estimate the payment as though a meter were fitted.

Lewis explained customers could apply for a water metre through their provider’s website or by phone.

During Chiles’ show, a listener called Luke called and explained he moved into his first home in October 2024 and the water company attempted to charge him £50 a month although he lived alone in the two bedroom flat.

“When they called me up to negotiate they told me, ‘That’s the price, deal with it’,” he explained, per MailOnline.

“So I looked online and saw the value of getting a water metre installed. I booked an appointment and because they could not fit the water metre I’m now on an assessed charge of around £100 a year, saving me £500 a year quickly.”

Lewis claimed the tip could help people make up for the expected £123 water bill increase from April 1, which equates to a rise of around £10 a month.

The rise, confirmed by industry body Water UK, will take the average water and wastewater bill from £480 to £603 for the next year alone.

“Struggling to pay? Contact your supplier,” the finance expert said. “All companies offer some kind of support – this can be anything from providing repayment plans, discounts or even a cap on how much you pay.”