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

Rewiring the house 😣

I'd put it towards home improvements. There is loads I'd like doing around the house right now.

I would give it to my son as a wedding present because since being divorced I have nothing left each month and I feel so awful not being able to give him a wedding present

I'd take myself and my family on a well deserved holiday

A huge part of it would go to paying bills etc It would make a huge difference to our lives, we could spend more time together, treat ourselves to dinners out and we'd save money for a nice holiday.

A family holiday.

Save it all for a new house fund, or for a rainy day! Can never have enough in savings!

oh lovely!! (dreamy sigh about an extra £300....)

£100 would go into savings
£200 would go on more bottles of prosecco and nice wines for midweek luxury

If this was £300 every month then I would put half into Premium Bonds monthly then use the other half for monthly treats, days out or meals out x

A new car. No question!

A holiday, a rainy day, experiences with the children before they grow up (and don't want to know us anymore!)

It would be spent on a holiday, would love somewhere exotic !

I'd pay for a desperately needed new bathroom and then overpay on the mortgage.

I would put it towards our family holidays and any remaining into savings.

I would put it towards extra treats for the kids each month x

I would sadly put the money towards overpaying the mortgage so that one day we can move to a bigger house. Either that or a lovely holiday somewhere hot and sunny.

Were about to look at this very subject and hope to save around £250 per month! We would use this to over pay the mortgage to reduce the term. But also use the extra money a few months of the year to do fun things, like be a little extravagant at Christmas or have a holiday!

I have always wanted a caravan by the seaside for summer holidays and weekends away (and a possible money earner for renting it out). So I would seriously look into buying a decent size caravan at a decent caravan site with great facilities for our great British weather.

We would use it to make overpayments on the mortgage.
Would love to be mortgage-free so that we could both take less demanding/lower paid jobs.

would really help for christmas this year

I'd spend £300 on a night away at a nice hotel for me and hubby, we have a 4 month old and a 4 year old so rarely get any us time.

I'd overpay the mortgage as we only have 5 years left to run so to shave a bit more time off would be amazing! Not too exciting but would allow us to relax and enjoy family life more knowing it was paid off!

I love the concept of Habito and will deffo look at using them.

Assuming £400:
I'd put £150 in a holiday fund - we want to do Disney/Lapland/Canada in the (long-term) future.

£100 into kid's savings.

£100 in a pot towards clothes/haircuts/glasses.

£50 into an 'activities' fund - so we can do bigger things more regularly, like zoo/Legoland etc.

I would do some travelling and go out more. Concerts, events and the like.

I would put the money away for my son for his future, I worry about how society will look after our children with the cuts in health and social care and pensions. I want my child to have the best start in life, and not worry about his financial future, and therefore I won't worry as much about him now.