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

To be honest my husbands work is very physical and he suffers more from aches and pains these days so if I had the extra money I would simply insist that he stopped working the amount that he does

New windows. We got the front ones done a few years ago, but couldn't afford to do the back ones!

I would use the extra money to overpay my mortgage because the savings made in paying it off earlier in terms of reducing the number of interest payments to the lender is worth more than any savings account interest. And I am not a believer in using the money for a quick and immediate satisfaction experience.

travel costs for teens

i just lost a job so i would spend this to add in our current bills. needs first of the family before anything else!

Definitely a family holiday!

i would deffinately spend this on a lovely little family holiday which is very much needed :)

A family holiday. Not had a holiday for 5 years :(

help clear debt and put in place savings in case things go wrong

Savings for my children's future. Things will be even more expensive for them.

I would save it for a perfect family holiday, then after that i would keep on saving it for lovely things, such as, a new car, treats for us and also keep some for any emergencies that came up! xx

I'd definitely spend the extra on a new bathroom and kitchen.

Ours must be over 25 years old and neither are a pleasure to spend time in!

We would definitely put it towards a nice holiday that's the one thing we struggle with affording

Pay off my car loan

I'd use it to do some home improvements, decorating, new carpets, new kitchen and bathroom.

Id use it to clear my CC debt and get some of the decorating jobs done round the house that we have been putting off

Baby furniture - got a nursery to put together.

I would put it towards a family holiday :D Fingers crossed xxx

I'd work a little less, spend a little on fun 'making memories' times, and maybe save a little for a rain day.

Holidays! We want to explore the world as a family and that costs money. Especially Japan :)

Having twins and already have a 2 yer old so would save the money to use towards a new house.

Mortgage living alone in the South in my dreams..

I'd spend it on a family break, we didn't get a holiday this year so I'd love to treat the children. I'm quite frugal so I'd probably take a winter break in January as that's when prices are lowest, whatever the time of year, we'd wrap up warm and have a fab time.

We love to travel as a family so it would definitely go towards that, whether a more extravagant main holiday or several extra smaller trips.

I would save the money until there was enough to spend on the spare bedroom.

At present it's full of clutter, and no use to anyone. I would recycle all the clutter, redecorate and buy some new furniture. The room could then be used for everyone and we would have some much-needed space!