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

[PhilTB54]

I'd get a pension going. Or buy premium bonds.

[FrenchieMum2Be]

If I could save that amount a month it would definitely go towards a new car! But given the size of my mortgage it's unlikely.

[cluckyhen]

Mine would certainly be a new car

[redstararnie76]

I'd put half towards overpaying the mortgage, and the other half towards saving for a holiday

[spanglisher]

Summer holiday first and then we'd put the savings towards a new kitchen

[baconbap]

a holiday

[tubbyj]

Save it towards a holiday home

[Rushy21]

I'd love to take my kids to Disney world! Our home is shared ownership and unfortunately we are stuck on a rubbish rate! There just arnt enough providers for shared owner ship mortgages!

[diddiebiddie]

I'd save it and put it towards our new kitchen - we are cooking on a mini oven at the moment!

[upthehammers]

If i had an extra 3-400 a month I'd use some of it on the kids as it would be nice to not have to constantly be saying no to everything. The rest I'd save.

[Lydia30]

We have been overpaying for a number of years so our mortgage will be finished in 2 years, which is 7 years early. We will be saving the additional money to buy a motorhome

[lottiegirl]

put it towards a new kitchen desperately needed

[ipanda]

I'd save it for the kids, for their education & home.

[funkyfreks]

I would say definitely new car, I have never been able to afford the purchase prices of a new car monthly and so make do with juddering and jerking along in life!

[snare]

a family holiday :)

[cathryn1]

Easy - stress free christmas

[nonnyno]

I'd pay for a subscription at a good gym, and finally get fit!

[allibaby]

I would love to take my family to somewhere like Disney Land with the extra money saved x

[ginsterloo]

We'd save the money for a couple of years then have a once in a lifetime holiday to Disneyland

[Leanfun]

A summer holiday.

[Rainshowers]

I'd like to say we'd be sensible and put it into our pensions...realistically we'd probably use it for a holiday since this is our last year of not being tied to school holiday date!

[cathyov]

Definitely worth paying more on the mortgage but I may also take a small percentage to have as a little treat fund and do something nice for the family at the end of the year.

[cheryl100]

I would overpay my mortgage so that I can be mortgage free much sooner! Because we manage fine off our current salaries, I like to think that we wouldn't miss extra money!

[JPTB]

I'd chuck it back on the mortgage to pay it off earlier.

[staceymummyleigh]

I think i'd treat the children and save some for a holiday as we haven't had a family holiday since our youngest was born.