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simply bought a bigger place
I've got the opposite problem, too much house (relatively), too much debt for where I want to be at this time in life.
Hence (maybe) moving to Leyton.
ChasnotRobert-
I viewed it as being my life's savings about to be stuck into a flat and, although the interest rates were low at the time, there's only one way they can go from low and that's upwards so I very much did not want to overextend myself just to get my "dream house" or whatever. With hindsight, that 'upwards' didn't happen for years and if I'd known that I'd have bought a 2BR flat instead of this one but this has been pretty good to us and I've been mortgage free for a few years so all that mortgage money has been single-handedly supporting craft brewing across the planet. :D
hippy
I smashed overpayments so I don't owe anything. It's a nice feeling, but if I could predict the future what I should've done was simply bought a bigger place and then not bothered with such high overpayments and stuck the extra money in pension or some kind of investment.
But then I'd have lost a bunch of that with the last economy tanking and would still be paying off the mortgage so maybe I was right all along :)
Conclusion: I'd do a bit of both - chip in more to the mortgage and the pension. Or if you're really sick in the head, calculate how much you could save with mortgage overpayments versus what you might earn with an investment of the same amount.