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

[thesockgap]

Goodness me, where to start! I think if we had £400 a month extra then half of it would be saved for Christmas / birthdays etc, the other half would go on improving our quality of life - so nice luxuries such as meals, days out, maybe holidays!

[tallandlong]

I treat the kids

[littlemonkeyz]

Nearly £5000 a year, that's a heck of a lot. I would save it up and go on a holiday of a lifetime with the family. Life's for making memories :)

[Lorraine1905]

I think I will look into doing this for sure and I would def use the savings to pay my mortgage off quicker.

[katkatgu]

Definitely a break somewhere sunny!

[MillyVanilli222]

Would definitely spend the money on a fun day out for all the family - although in September, that might have to be swapped out for new school shoes!!

[easter1965]

We really struggle to get away on holiday as having dogs and cats its a real problem trusting people to care for them so if I had extra cash I would pay for them to go in to kennels and cattery for a couple of weeks so we could finally get a family holiday together and then get some savings set up for the children.

[DinosaurSex]

I know it's boring but I'd put it into savings to try and get the 'three month buffer' people talk about so much - it's almost mythical for us at the moment!

[liamell]

We would treat the children to an amazing Disneyworld holiday...to be able to save up and see the magic light up their little faces would be amazing

[bosch121212]

I'd be using it to pay off any other credit cards or bank loans, if I didn't have them I would save it for a nice holiday or kids college/uni/weddings-nest egg.

[Annimousey]

I'd treat the kids to a family holiday. Not necessarily abroad but I'd love to take them to Cornwall.

[shellywkd]

I would use it to put my daughter through college and university

[InvisibleKittenAttack]

I'm another boring one who would (and is currently!) overpay the mortgage - if you can afford what you are currently paying, continue to do so to get the debt down as fast as possible.

[hmariez]

A family holiday would be nice xx

[slbhill42]

I'd use it to get the loft floored so I can finally get going on my model railway

[MSHGW]

We could do with getting a new car as the old one is now deceased!

[iut044]

On games for my playsation .

[6paces]

Early retirement :-0

[ameswright2906]

I would learn to drive, we would put some in a Junior ISA each month for our children and we would try and save some to save for a deposit on a house.

[KittyKat88]

I'd use the money towards a special family trip such as a weekend in London and catch a show etc. The sort of thing it's hard to justify when your income has to stretch so far these days!

[helsrodders]

I'd use every penny to overpay my mortgage.

[Abominus]

1st of all i would upgrade my shitty broadband, then it would go towards some much needed work on the house. Think i would save the rest, gotta be sensible.

[cather]

I would use some of it to have a family day out every month to create fantastic family memories and the rest I would use to save for a holiday

[cherylann2461]

A new car and a lovely holiday. Any extra I would save in premium bonds.