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

Ohh, we'd put it towards holidays - making family memories

I would save up to take my Granddaughter to Lapland to see Santa

I'd definitely keep our mortgage payments the same, using any savings to overpay and get it paid off quicker. I'd love to be mortgage-free.

We really need some maintenance doing on our conservatory so I'd spend it on that.

I'd buy 2 beautiful silk blouses - one white, one black. A nice real leather tote bag and a pair of black leather block-heeled boots. If I had any money to spare, I'd buy a nice nude eyeshadow pallet.

Oh and some sweets for the kids.

We remortgaged and now overpay.
I would overpay by £250 and save the rest for a holiday.

I would save some and spend the remainder on household jobs - desperately want new carpets upstairs.

Ooh. Put it towards an enormous party and a holiday for milestone birthday next year, it has been a shockingly horrible year for us and that sounds like a perfect antidote.

It would have to be on a lovely family holiday.

I'd split it between over paying the mortgage and saving into an account.

Firstly a family holiday but after that id save the money for retirement (and to help my daughter when she is older) - of would feel so much more comfortable knowing I was saving

Is use it to pay for a holiday to Disney.

I'd definitely put the saved money into a higher interest regular savings account for my children. It'd be satisfying to see the accumulation of the money saved in the mortgage going towards their savings. Keeping our monthly ourgpings the same. It'd teach them a valuable lesson too about watching the pennies!

I'd put it aside and let it build up so we could go on amazing holidays!

I could at last pay a plasterer to cover up the artex that is on EVERY SINGLE ceiling in my 70's house. It is like a museum of artex patterns through the ages and the artex artist must have been very accomplished at the time as there are a wealth of patterns on display - 7 different ones alone in the living room. It makes me dizzy.

I'd like to think I'd save any money freed up by a remortgage - possibly toward university costs for the dc. I'd probably make sure at least some of it was used for that. The rest? Regular mini breaks / date nights - we don't get much time just me and dh

Use it to fund a career break.

Depressingly I would probably boringly pay down my other debts and put a bit more into my pension. Sad I know.

A family holiday for sure

Up my pension contributions and then maybe save up for a new bathroom.

I'd take the kids on holiday somewhere they'd love to go like Disneyland Paris.

A holiday for sure. Not been abroad in aaaages.

Svr with no fees are good deals, been on one for 10 years now......no fees for overpayments too.....almost mortgage free!

Holiday in the first month

Finish the decorating in the subsequent months

Once that's done, finish the garden so we can grow some fruit, salad & veggies

New car!

Extend my Maternity Leave and/ or go back part time

Driving lessons. I wish I'd learnt before the children arrived but now I can't afford it. It would then allow me to get a new job too.