Any single mortgage free wannabes?

heavenfire

Ooops been neglecting this thread Although have been lurking not been posting.

Hope everyone is well? I am still not overpaying anything. This is more difficult than I thought. The need for a social life and new clothes (due to weight loss ) is overtaking my need to do the necessary.

My DIY list is growing so big I think it would be easier to just move house! :rotfl:This is where a man around the house would be helpful though saying that guys with DIY skills seems to be a dying breed. Think I just need to get on with it

ultrarunner

I certainly am lacking DIY skills as well, although did I get a few jobs done at the weekend ahead of renting out a spare room.

No longer do I have a peephole in the bedroom doors, although I do have shelves to put up still!

I've managed a few overpayments, but only by really watching my spending, no idea how I'm going to get through Christmas though, I have already re-set my family's expectation as to presents.

ms_london

Hello....

I moved into my flat a few months ago, so another single MFW - problem is I don't have much left over after all of the bills, so I'd be lucky to overpay by £50 - £100 at the moment!!

Mind you, at least the flat is all mine, mwahahahahahaha (dr evil laugh!). I will have a read back over this thread for some tips!

Hurdler

yes - another single MFW-er here

kiwigirl

Another MFW singleton here, unfortunately I lost my job last year and relocated to my mums home as she had a lot of health problems too. Furniture is in storage and its costing me a bit to keep there per month - was hoping to get a job locally in meantime and relocate with that but alas not yet.

Have managed to rent out house (CTL) which covers interest part of mortgage, am looking for work within 2 hours from here - was travelling back to watch after poorly parents most weekends (old place further), will try (again) and sell in springtime, or if I relocate and get perm post will do a part x - prob lose money but don't want the hassle of being a LL if I can, if I get job local probably on lot less salary and could do a do upper and stay at mums for a bit longer and sell old place. 4.5 yrs into a 34 year mortgage, had been overpaying and had reduced it a bit over the years.

Mister_aaa

Hi there,

I just wanted to post in this thread to say that being on your tod and paying off your mortgage is possible, I did it a few years back.

It's an amazing feeling knowing that whatever happens (unless you are very silly!) you will always have a place you can call home.

I just wanted to post some encouragement to you all to let you know that it is doable, and that the feeling of acomplishment when you pay it off is worth all the struggles and beans on toast!

Good luck everyone.

Mister_aaa

BookWorm

Hi everyone.

I wouldn't call myself a MFW just yet though after reading all your stories I've been inspired to give my finances a serious review and see what I can do with them.
I'm a singleton with a mortgage whereas all my friends are either in couples or renting. However I don't have any other debts and that seemed to make me the unusual one (at least until I discovered this forum!) Like some of you I do find it hard sometimes not having someone to bounce ideas off or go to for advice...but I'm proud of what I have managed to achieve so far.

Keep your chins up and be proud and happy

endoftherainbow

Hi,

I took out out a mortgage on my own about 7 years ago. Prior to this I spent a good few years working hard to save a deposit. The responsibility is daunting but doing it all on your own gives you an amazing sense of achievement and independence. I've seen couples break up and lose their home/investments - I'm happy that I'm in control of my own finances.

I've cleared all other debts and as time goes on it is getting easier. I've been able to make overpayments in the last couple of years and I'm committed to clearing the debt. I hope to be mortgage free in about five years time - or even sooner if i can

Good luck to everyone

Southend1

Southend1 wrote: »

Hi, I am single and definitely want to be MF! My salary is just over £26.5k (but will drop to £23k in 2014 :eek: so trying to get the budget in order now so I don't struggle with the drop). I moved into my house last November and the mortgage is £115k. To date I have made a one off overpayment of £200 and am also overpaying every month £22 as I rounded the regular payment up to £600. I want to bump this up to £650 ASAP but have had to buy a lot of stuff for the house (decorating materials, new carpet etc) so this probably won't happen until the middle of next year. But if I can do it any sooner I will. Would love to be MF before I am 50 (currently age 31) but it is hard to find spare cash with only one salary coming in. Who knows maybe I will find a partner if I can find time in between all the decorating and DIY for a social life!!

Good luck OP on your MF journey! :money:

Just remembered this thread and thought I would post a quick update. I've now been in my house just over two years. I had some unexpected luck this year and was given £2.5k by a family member and also took on some temporary extra responsibility at work which earned me about £1200 extra. So along with the extra cash and being very frugal I was able to make some decent overpayments and as of a couple of weeks ago my mortgage is down to just under £102,000. As the house has increased in value a bit too, I was able to remortgage at 60% LTV on a 4 yr fixed rate of 2.89%. So my monthly payment is down to £505. Pay cut kicks in next May but I am hoping to round up the monthly payment to £600 or £650 to keep on overpaying.

Looking back I'm really pleased I've been able to achieve all this and it's put me on a more secure footing for the next 4 years while I have such a good rate.

How's everyone else getting on?

ml543213

Southend1 wrote: »

Just remembered this thread and thought I would post a quick update. I've now been in my house just over two years. I had some unexpected luck this year and was given £2.5k by a family member and also took on some temporary extra responsibility at work which earned me about £1200 extra. So along with the extra cash and being very frugal I was able to make some decent overpayments and as of a couple of weeks ago my mortgage is down to just under £102,000. As the house has increased in value a bit too, I was able to remortgage at 60% LTV on a 4 yr fixed rate of 2.89%. So my monthly payment is down to £505. Pay cut kicks in next May but I am hoping to round up the monthly payment to £600 or £650 to keep on overpaying.

Looking back I'm really pleased I've been able to achieve all this and it's put me on a more secure footing for the next 4 years while I have such a good rate.

How's everyone else getting on?

Hi there,

I am single and MF after 6 years and 8 months of paying my mortgage. This is despite the tragedy of losing my day job for 5 months back in 2010. No help from parents or relatives either. Believe me, it took a lot of hard work, discipline, frugality and good planning to get to where I am now. (I claimed my "MF badge" in the MF Roll of Honour board only this morning :rotfl:feeling good!).

To give you an idea: I bought my house in Cambridge in 2007 with a £152K loan from Halifax. My salary was just shy of £40K then. To realise my MF dream, apart from my 9-to-5 day job, I also took up a part-time job in the weekend. In the 5 months when I didn't have a full time job, it was the weekend job that kept things rolling (money was not great but at least I was paid until I found another full time job with similar salary).

In retrospect, the journey has been long and exhausting. However, I believe I am still one of the very lucky ones.

What I want to say is: do not give up when life is tough and the future looks bleak. You can make it if you have the will and the belief in yourself :A. Last but not least, good luck with your MF journey!!