Cover letter, narrow margins ok?

Is it ok to use narrow margins to format my cover letter. I struggle to fit everything into one page with addresses at top of letter?
My CV has narrow margins.

Be careful, because CVs are more often than not printed off (unless you are applying to a really large organisation that uses software to extract info). Workplace printers are often set for bulk, standardised printing and you don't want the edges of your letter cut off.

Aim for 2 cm all around, definitely not less than 1.5cm. Remember your CV reviewer will likely want to make notes in the margins/white space if you are a competitive candidate.

What are you putting in your cover letter that is taking up so much space? The bulk of your information should be in your CV.

You should reference the role for which you are applying, why you are suitable, highlight particular skills and what you can bring to the job, summarise.

The two addresses take up half the page! I cut out a paragraph about a uni project and mentioned it to back up one of my skills.

Yeah, i must of followed my unis career guides as they show the cover letters with the companies address. I thought that was the right thing to do.