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.
If you have any queries on this article or others like it, please feel free to contact Solution Mortgages on 0845 123 1260 or visit us at www.solution-mortgages.co.uk