Last updated: 21 March 2026

Overpaying your mortgage can save you a lot of interest, but it’s important to understand your lender’s rules before you start. This is true whether you’re using Sprive or making overpayments manually.

How mortgage overpayments work in the UK

Most UK mortgage products allow you to overpay by a certain amount each year without penalty. This allowance is often expressed as a percentage of your outstanding balance.

A common allowance is up to 10% per year, but this varies by lender and by product. Some mortgages calculate this based on the original balance, others on the remaining balance.

Early repayment charges (ERCs)

Early repayment charges usually apply if you overpay beyond your allowed limit, or if you repay a large chunk of your mortgage during a fixed-rate period.

ERCs are typically highest in the early years of a fixed deal and reduce over time. Always check:

• Your annual overpayment allowance
• Whether the allowance resets each year
• How your lender defines an “overpayment”
• What triggers an ERC on your specific product

How Sprive fits into overpayment rules

Sprive doesn’t change your lender’s rules. It simply helps you build up money that you can use to make overpayments within your existing allowance.

That means:

• You’re still responsible for staying within your annual limit
• Overpayments are subject to the same ERC rules as manual payments
• You should always check your mortgage terms before sending large amounts

If you’re unsure how much room you have left in a given year, check your lender’s app or statement before making additional payments.

What to check before you overpay

• Are you on a fixed-rate deal? If yes, double-check ERC rules.
• How much have you already overpaid this year?
• Does your lender apply overpayments immediately or at statement dates?
• Will the payment reduce your term or your monthly payment?

Is Sprive safe?

This page focuses on mortgage rules, not regulation or security. If you want the FCA context, Open Banking explanation, and safeguarding vs FSCS breakdown, read the full guide here:

Is Sprive safe? FCA checks, Open Banking, and what to verify

Want the current sign-up bonus?

To avoid duplicating offers and steps across the site, all bonus details live on one page:

Sprive referral code (UK): how to claim the bonus

Disclaimer: This article is for information only and is not financial advice. Always check your mortgage offer, terms, and lender documentation before making overpayments.