Last updated: 10 May 2026
By Stiv · Design, technology and personal finance
We faced this decision ourselves. Since October 2021 we've chosen to overpay our mortgage consistently, totalling £3,294.55 through Sprive alone, including cashback from weekly shops. This guide covers how we thought through the trade-off and what we'd suggest considering.
Should you overpay your mortgage or invest the spare cash instead? It's one of the biggest personal finance questions UK homeowners face right now, and the answer isn't as obvious as either side would have you believe. With the Bank of England base rate at 3.75%, average fixed mortgage rates above 5%, and top savings accounts paying around 4.75%, the maths is closer than it has been in years. This guide walks through the key factors, the trade-offs, and a practical framework to help you decide what makes sense for your situation. Our free mortgage overpayment calculator now also has a compare-to-savings toggle, so you can run both sides of one of those scenarios in seconds.
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