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

TTC. Can’t afford another child right now but an extra £400 a month would sort that right out! Shame we switched our mortgage as soon as our fix ran out

I’d probably use most on over pay on the mortgage so we could pay if off sooner! Boring I know, but I can’t wait to be mortgage free!

Pay off my car

We'd save it for an exciting new business idea!

Probably fritter it away in costa, but I can dream of saving it up for a big holiday instead

A few top notch meals out with decent wine.

I would spend it on house maintenence especially guttering and new windows.

I need a new kitchen and bathroom so i would have to spend it on updating the house.

We would save it and use it to pay a lump sum off our mortgage

I'd take my mum and siblings on a nice holiday :)

I would save the money to help DS & DD get on the property ladder in the future.

either save it to pay for a badly needed new kitchen, or overpay mortgage

Ooh,a family trip to Japan would be top of the list. Guess that would take up a couple of years of savings.
Otherwise lots of day trips to nice places and meals out

A new posh cordless vacuum

I’d use it to further overpay the mortgage. Not only will that mean we finish paying sooner, but we’ll save £,000 in interest.

An annual family holiday. Our income has just gone down drastically at the same time as our expenditure has gone up drastically, so it's all about making ends meet and there is no extra money currently for luxuries.

With 2 DDs off to Uni in the next few years, I'd be putting any savings away to help them out with costs.

I'd put two thirds into savings and spend the rest on improving our quality of life.. Paying for a cleaner and gardener to free up weekend time and eating out more as a family.

Overpaying the mortgage! That would just be "free" saving

I read it as Haribo wanted to know, couldn't possibly understand why they'd be interested

Split between savings and mortgage. Mortgage interest rates will rise at some point makes sense to stay one step ahead.

We would put it towards our wedding next year

I'd put it towards adult braces for me and some towards new kitchen or bathroom as that's next on our house to do list

I'd replace my old banger with a decent second hand car :)

We're not actually overspending on our mortgage, but if I were to save an extra £300-£400 every month, I'd probably literally save it, just tuck it away for a rainy day.