Homeowners should look to increase their mortgage paymets (over pay) as much as possible to beat inflation.
With a background of rising prices it is important to ensure any savings guarantee a better return.
By paying off you mortgage quicker you will guarantee an inflation beating return.
You would be better doing this as you would need to achieve 7.5% interest in a high rate savings account, which is unlikely.
The Bank of England has recently dropped rates to 5.25 % but is also having to wrestle with inflation.