A free independent mortgage overpayment app called Sprive has launched, using artificial intelligence (AI) to work out what users can afford each month based on their spending habits.
Sprive automatically sets aside the amount for its users, after which they can send the money to their lender.
Users are able to adjust the figure each month if you want to.
Jinesh Vohra, founder and chief executive of Sprive, said, “Inspired by the fintechs that use AI technology to help people save and invest each month, we’re helping people put their spare cash towards their mortgage.
“The savings achieved can be huge, with quite life changing results.
“I managed to become mortgage free earlier than most, and the savings and freedom it gave me were quite transformative.
“Sprive’s mission is to make it super easy for everybody to use their spare income more wisely to get mortgage free as fast as they can, while staying in total control of their money.”