Any Single MFWs?

Luv2Budget

Hi I'm a newbie,

Been reading this site for quite a while. So, was just was wondering if there are any other single MFWs. It seems an even better achievement if you manage to pay off your mortgage early on your own.

Bit about myself - I have £91k outstanding on my mortgage and hope to pay this off in 5 years, if possible!
Currently 2 years into a 5 year fixed rate mortgage @ 5.63% with Nationwide. And overpay around £400 monthly.

Just like to say thanks to Locoblade, think I've got the name right, for the spreadsheet, it is absolutely brilliant!

Well, thanks for reading. Looking forward to any responses!

pencekeeper

Yep I'm single, and to be honest it's one of the reasons I want to be MF asap. The security of not having to worry about mortgage debt/repayments is something I dream of - especially as I think my employment status will drastically worsen in the near(ish) future. It's not like anyone else will pay the bills + mortgage if I can't.

I do think that doing it by yourself is an even greater achivement - though to be fair it's easier in some ways in that you don't have to convince your other half/family to have to go without expensives treats etc

Luv2Budget

Yes, that is true about job security, especially in this economic climate. My job seems safe for now, but you never know for the future. That's why I want to pay my mortgage off as soon as I possibly can.

And yes I suppose it is easier to overpay if you don't have family/ children to think about, but there is also only 1 wage coming in, so that makes it even more impressive

Barny1979

I am with someone (don't live with them yet), and pay the mortgage exclusively myself.

Creditcardkid

Yeh I am single, just started clearing a £140,000 mortgage.

Hmmm, maybe I will use the money I free up to buy a mail order bride? :rotfl:

hillcats

Yes, it would be a superb achievement for any single person.
Personally, I have the ball & chain around my ankle (I think SWMBO would prefer to put it round my neck though...!)

Luv2Budget

Very funny creditcardkid!

How are you and Barny finding overpaying? difficult?? and when do you hope to finish paying it off?

Barny1979

Personally finding it ok, but will have another person contributing to the mortgage in just over a year's time. Aiming to clear my mortgage by July 2019.

Creditcardkid

Luv2Budget wrote: »

Very funny creditcardkid!

How are you and Barny finding overpaying? difficult?? and when do you hope to finish paying it off?

Not finding it too tough so far - but the week I buy my first place I get the news that the company won't pay any overtime (doing about £600PCM for the last year), no pay rise and reduced bonus may become a bit more difficult as the year progresses!

Aim is to be mortgage free by the age of 39 in 2018 (8 years from start of mortgage till resolution hopefully).

fieldofdreams

Another single MFW here, by this time next year I will have done it. I agree that the security of knowing you've got a roof over your head even if things go belly up on the job front is a great weight off the mind, although I guess bills still need to be paid

Just need to find someone to share it with now!

meames_2

wow, I have the same amount outstanding and same nationwide rate as you. I would love to be able to overpay by £4 a month nevermind £400! well done you!