Sprive Referral Code UK and App Review: Overpay your Mortgage
I bought my first house last year and I’ve been on a mission to start chipping away at my mortgage.
When you calculate how much of your monthly payment is actually going towards the interest and not the principle amount, it gives you a kick up the bum to start overpaying!
However, I’ve not got lots of spare cash right now – between saving for house renovations and DIY, and getting made redundant soon (!), i’m going to be watching the pennies pretty closely.
I’ve started using the Sprive app to pay small overpayments towards my mortgage each month, and this is how I’ve been finding it! Read my full review and grab my referral code ‘TARYN’ so you can start saving money too…
Sprive App Referral Code UK and Review: Overpay your Mortgage
What is Sprive?
Sprive is an app that connects with your mortgage lender, so you can see exactly how much you have left to pay in total.
It was really quick to link to my mortgage, and I can see the updated amount every month so I can keep track of my outstanding balance.
Through Sprive there are two main ways to overpay:
Auto-saving
Via Sprive you can set up a specific amount of money which will be taken from your bank account on the first week of every month.
I have set up a monthly recurring overpayment of £40, and I love that I can set it up and forget about it. I can be forgetful so automation is definitely my friend when it comes to being consistent!
I can use the calculator within the app to estimate how much interest this will save me – a whopping £12,506 if I continue to overpay by £40 per month! Definitely worth it.
Cash back via gift cards
As well as setting up recurring overpayments, you can also earn cashback on any gift cards you buy through Sprive. Your cashback amount also can be sent straight towards your mortgage balance.
The app features thousands of brands; I mostly buy giftcards for my weekly shop, as I visit regularly.
Just think, if you buy a giftcard for your weekly shop for the next year, how much cashback could you earn! It really adds up fast, and just takes a few seconds at the checkout to purchase your gift card.
Once you’re into the habit, it’s second nature.
The app definitely makes me feel more motivated to keep chipping away and overpaying. I have quite a long mortgage term so it’s definitely my plan to try to reduce it asap, and I feel like Sprive helps me to keep on track.
I also like that you can easily send lump sums towards your mortgage with a click of a button. Some months I might be able to contribute more, so this is a handy feature to have available, avoiding the faff of calling my mortgage advisor to try to make an additional payment.
How to sign up to Sprive and get £5 free towards your mortgage
To sign up to Sprive, click here and use referral code TARYN for a £5 sign up bonus to get you going.
Once you have downloaded the app, you can decide whether to set up a monthly auto-payment and you can start purchasing your gift cards for your regular shopping
More easy ways to save money
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- Try out your local gym for free with these free gym day passes
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Final Thoughts: Sprive App Referral Code UK and Review │ Overpay your Mortgage
I really believe that the small amounts count; when I was saving for my house deposit, those fivers and tenners made such a difference! If I had dismissed every opportunity to save a few pounds I’d be in a very different position today.
Instead of waiting, I’m glad I’ve started making small overpayments and chipping away. Future me will be glad I did! If i end up earning a little more in future I might increase my monthly auto-payments, and I am definitely going to continue buying gift cards to pay for my food shops.
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