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

[AnnMumsnet]

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

Standard Insight Terms and Conditions apply

*according to HSBC analysis
** according to CACI data

Save the money to splash out on a trip to Disneyworld with DB, DSil, DN x2 or, help them get on the property ladder themselves.

Visit Florence (my choice), visit Venice (DH), see the Cursed Child (DC2) and see Man Utd play (DC1....).

I'd use it on really interesting weekend trips with the kids. They are teenagers now so I'm conscious there are only so many more family holidays they'll want to come on.

In my dreams I'd be saving half and building up the other half to pay for things like improving my home. In reality it would probably get used up on everyday things very quickly and a little goung towards house improvement.

Pay off debt and save for a family vacation!

We've done it and paid off the mortgage! This allowed me to go down to part-time working in a demanding job - AKA getting my life back!

Save for furniture for our new house

It would go towards exploring as much of the world as I can with my husband & our son

I'd feel more able to hire babysitters and head out in regular date nights with my husband. Since having children our social life has definitely taken a low priority. At the moment we definitely feel that we can't justify the cost of a full night out with paid childcare on top so gave lots of sofa dates instead!

Home improvements

id put it away for my daughters uni fund :)

Probably use the spare money to pay into the mortgage and reduce the capital so we can pay it off sooner

We bought a house that needs 'updating' so there's an endless list of things that need doing- a new kitchen diner is top of the list to save for currently, so I'd go for that.

I would save it towards a new kitchen as it’s really going to need replaced in the next few years.

We purchased our house on shared ownership so I would save the money towards our savings to buy our house outright!

£100 overpaying the mortgage
£200 holiday fund
£100 to be able to have treats like a family lunch out and the odd day out to an attraction or cinema etc.

Amazing (if a bit depressing) to think how much of a difference a relatively small amount of money would make really.

A family holiday and days out.

Overpay the mortgage! It's the only sensible thing to do. An extra pound paid off now is worth several by the end of the mortgage term.

a new sofa!

I would buy a new bookcase for the sitting room, get some lights for our landing and save the rest / overpay the mortgage.

As a single parent who works full time that money would be life changing for us.

It would mean a holiday without the worry of if i can afford it, shopping for food without a worry, i would even be able to treat myself to putting the heating on when it was just me in the house.

However i would probably whack an extra £100 off the mortgage to reduce it, save 150 for said holiday and save the other £50 for a rainy day and continue to live frugally. As the peace of mind would be the best gift of all

£300-400 a month savings would be incredible. I would save it up for 1-2 years and then go on a really nice family cruise and treat my mum as well.

WE would put it towards getting a new car - our current one is slowly getting louder and sicker! Soon, she'll have to be put out to pasture!

cheese sandwich’s for life

I would over pay our mortgage using some of the money and use the rest on redoing our kitchen. After the kitchen I would start saving again as we have raided all our savings to rewire, replaster and recarpet our home. All unexpected costs as we didn't realise it required the work when we bought the house.