Any Single MFWs?

chirpchirp

Single with 2 kids but luckily receive maitenance so I guess I'm not strictly doing it on my own.

miss_undastood

I'm single, got my mortgage in Sept 08 - started off with just under £58,000 + £20,000 parent loan.

Currently have around £52,000 outstanding and around £20,000 in ISA's/Savings (earning a higher rate than my stonking mortgage rate - currently 1.39%!)
Right now it is making more sense to save than overpay, but I can access my savings and throw straight onto the mortgage when rates start to rise.

Good luck to fellow singletons (and other MF wannabee's)

JA1000

Does this count I have two houses one I built, the mortgages are about 50% on each so if I did sell one I would be MF.

It's an investment so I consider myself there I think...not sure if it counts.

And have done it on my own

george_jetson

Not single, but I live alone. Cleared my mortgage last year - 15 years early!

Keep at it - it can be done!

Luv2Budget

Ada3050 - congratulations on becoming mortgage free

HarveyGal - well done - yes all these posts give great encouragement

ChirpChirp - you are definitely considered a single MFW and doing it with 2 kids and that size of mortgage is fantastic!

JA1000 - your included too! and 2 houses as well that is brilliant

George Jetson - congratulations on being mortgage free last year.

I wasn't expecting to see so many single MFWs but it is great to have a group to talk to about this on my journey because I haven't told anybody else! too many people at work are struggling so it seems inappropriate.

Well good luck to all (including couples too!) and thanks for all the replies.

ally18

Hi,
Im another singleton but with 3 kids, just my salary which isn't high, no maintenance. I tried to start to be mfw earlier in the year but problems have arisen so I can't keep to my earlier wishes.
My mortgage is around £64k + £18k, both on trackers @ 0.69% and 1.49% so my rates are brilliant at the mo. Trying to overpay each month because I still have 25 yrs on the mortgage and at 43, I can't have a mortgage for that length of time. Bit worried to be honest now.

JA1000

When do the kids go? OR when can you start charging them rent. Things will speed up then.

pencekeeper

Ada3050 wrote: »

I am single and went mortgage free 3 years ago.

One of the best moves I ever made, while all around me were having their holidays and nights out I was saving my hard earned to clear the debt.

Even better when last september I was made redundant, the worry of a mortgage would have sent me under.

To all you MFW's keep at it, you wont regret it for one second when you get there.

This encapsulates my feelings on the subject, and why I am working hard to get the mortgage down. I'm paying about £1700 capital a month of the mortgage whilst I can - 15 months to go!

Luv2Budget

Hi Ally18 - overpaying and being single with 3 kids must be very difficult, at least you managed to make some overpayments. Like JA1000 says as they get older, it will hopefully be easier for you. Are you claiming all your entitled to? you can check this out on the Benefits board.

black_taxi_2

im single

feel for one parent families--not sure how u cope

i hav difficulty taking care of myself