I’ve now been using Sprive for 3 months to reduce my mortgage, and found limited info online about it, here’s my thoughts. If you find these helpful please do use my code 🫶🏻 S8G7W7D4
Set up:
Pretty simple - I connected my bank first and bought a low value gift card to check it worked, which it did. After a few more gift cards I then attached my mortgage which I thought would take ages (hence why I put it off) but it connects in the same way as your bank account so very quick. Not sure how easy it would be if you don’t have an app as the tech seems to work between the two apps!
Buying gift cards:
Easy, just remember two things - if you need a refund on the item it will be on a gift card so I tend to only buy food/things in the moment. Also if you shop with Sainsburys you have to add the gift card on the website, not the app, but once you have converted it to a coupon you can use it like usual on the app. A bit fiddly.
Paying the mortgage:
Was a bit dubious this would work so did £10 first… this showed up very quickly. I now only make one payment a month because otherwise the bank keep sending me confirmation letters!
Overall:
I love it. Once you get in the habit of using it it works easily and I’ve paid about £50 a month off my mortgage. Next I’m going to look at the auto payments I can make. I’m also going to try out the mortgage quote in a few months as they seem to be a competitor to L&C (to me at least!). The most annoying thing is that I can’t connect two people to the account so my husband can’t join me in using the gift cards. Not the end of the world but we would save more if we could both do it every time.