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Overspending on your mortgage? Tell Habito what you'd spend the money saved with a remortgage on - £300 to be won NOW CLOSED

470 replies

AnnMumsnet · 27/09/2017 12:19

Online mortgage broker Habito want to get folks thinking about remortgaging - did you know...that according to HSBC analysis, one in four British homeowners, (3 million people), are currently overspending on their mortgage by an average of £4,000 a year because they have stayed on their lender's standard variable rate (SVR). By remortgaging, homeowners on an SVR could save between £300-£400 a month (on average)*?

Habito say "we believe that no one should be left overpaying on an SVR. Thousands of homeowner's initial mortgage rates will mature in the next six weeks** which means they will automatically be moved on to an SVR. But, with interest rates still low, it is the best time ever to remortgage. We are a free online mortgage broker that promises to get you the best mortgage out there, then ensure you’re on the best deal, every day, for as long as you need it”.

With this in mind, they’d love to know what you’d do with an extra £300-£400 a month in your family? A massive family holiday? A new car? Treats for the kids? Or would you save it and put it towards a new home in the future?

Share your thoughts on this thread and you will be entered into a prize draw where one person will win a £300 voucher for the store of their choice!

Thanks and good luck and to see how much you could save on your mortgage - visit Habito Smile

Standard Insight Terms and Conditions apply

*according to HSBC analysis
** according to CACI data

Overspending on your mortgage? Tell Habito what you'd spend the money saved with a remortgage on - £300 to be won NOW CLOSED
OP posts:
mamof3boys · 02/10/2017 10:53

It would allow us to save for our children's future.

SuzCG · 02/10/2017 11:35

£300-400 per month - save half each month so that we could have a nice holiday to look forward to. Put a little aside each month in the kids savings accounts (something I can't regularly do now) and have a once a month treat whereby we do something fun as a family.

kamaxtra · 02/10/2017 12:10

I'd save it and put it towards something special as a treat. Honestly, I've been needing to do something for myself and fix my teeth, so I'd love to save for that.

farhanac · 02/10/2017 12:31

Save for a nice trip

Sleepysausage · 02/10/2017 13:30

We'd probably over pay on our mortgage payments and save the rest

MimsyBorogroves · 02/10/2017 15:56

A holiday and some savings!

OtterlyNutty · 02/10/2017 15:56

I would put the money towards my wedding.

MonaChopsis · 02/10/2017 16:38

I would start saving for a new kitchen... Desperately needed!

Wishingandwaiting · 02/10/2017 17:32

I would pay for some buildings works to make a third bedroom out of my flat. I’m fed up of sleeping in the Hallway! (single mum of two children here)

purplevamp · 02/10/2017 17:36

If I had a spare £300-400 per month I would use some to overpay the mortgage, then put the rest by to save up for a family holiday. My mortgage rate is only 1.9% so very low but is £660 per month.

ApocalypseNowt · 02/10/2017 17:44

Wow, £300-£400 would mean a new car for me. Me and DH share one at the moment but having one each would mean we'd be able to look for new jobs/spend more time at home.
At the moment we both have a bitch of a commute including dropping dc at nursery & schools. The freedom would be wonderful!

cuppawithbiccies · 02/10/2017 19:46

I'd use some towards holidays and the rest to overpay the mortgage with the aim to be mortgage free for early retirement

ilovekitkats · 02/10/2017 20:18

I would overpay the mortgage in order to pay it off quicker.

sweir1 · 02/10/2017 20:51

I would take more family breaks

Fizzyxo · 02/10/2017 20:58

Have my student loans repaid, get a new car, holiday abroad. Too many things that others take for granted

Dormouse1940 · 02/10/2017 21:01

Oh my goodness, this would be like winning the lottery for us....
I'd save most of it to be honest- I'd really like us to be able to buy a home someday and this would really help towards a deposit.

But I'd also love to take DS1 to Lapland before he gets 'too old' to be really caught up with all the magic around Christmas...

And the thought of being able to put some money aside for his future would be wonderful too...

...SIGH...

NicolaMarlowsMerlin · 02/10/2017 21:02

Have one of the many holidays the children would love. Hire a cleaner so we can enjoy being at home rather than constantly having a long list of jobs to do!

sweir1 · 02/10/2017 21:03

I would take more family breaks

jandoc · 02/10/2017 21:13

it would mean that we could do more family fun stuff

Whyisitsodifficult · 02/10/2017 21:18

That is quite a saving every month. I guess the sensible thing to do would be to overpay the mortgage but.. New bathroom, new kitchen, extension, total redecoration, landscaping, holiday would probably be nearer to the top of my list! 😉

NutellaDoughnut · 02/10/2017 21:41

I have lots of things I would love to fritter away the money saved on, but using a sensible head I would realistically use it to make larger overpayments and be mortgage free at an earlier stage in life.

Thirdload · 02/10/2017 21:42

It would go on childcare and savings in our case.

KeyChange · 02/10/2017 22:24

In the first month I would buy one of those wooden playhouses for my toddler - my last step off the property ladder would be his first!

Adarajames · 03/10/2017 00:34

Not worrying about affording the food bill / some white goods item going wrong / the dog needing treatment would be a great way to spend or know that I could spend any extra money a month!

TellMeItsNotTrue · 03/10/2017 01:32

It would be a holiday for me, I wouldn't care where as long as all of my family were there with me and we could use it as a real opportunity to reconnect with each other properly.