At least in the US, this is not a great idea. Here's why - when you prepay extra principal, it lops off some of your last payment(s). However, if you did this for 10 years on a 30 year loan, but suddenly lose your job, the fact that you prepapid 10 months' worth of payments doesn't help you when the bank forecloses because you can't make you payments.

Instead, you can set aside the extra cash and invest it prudently. Then, id nothing goes wrong, you can use it to make a lump-sum payoff early once your investments are greater than your payoff amount. However, if you lose your job, you'll have several months' worth of payments set aside so you can try to get back on your financial feet before losing your home.

Another advantage to not prepaying is that inflation chips away at the value of the money you owe. The longer you can wait, the less the money you pay is worth, but it still meets your obligation to the lender.

Finally, in some cases you get an income tax deduction for the interest you're paying.