Any single mortgage free wannabes?

heavenfire

Evening everyone and great to see that there are some others out there! :T:T

Thought it only fair to add a bit about me

I live in a one bed flat with around 93k left to pay. I would love to overpay but there seems to be so many bills and so much I want to do that my money doesn't stretch very far.

I look at friends with partners and see, for the most part, how easy they seem to have it and how much "play" money they have and it makes me feel so tired sometimes

Occasionally in the past I have been so overwhelmed by making decisions on my own and scared of making a mistake that I froze and didn't do anything which meant I ended up paying more for my indecision. I'm getting better but it still worries me.

Anyway I shouldn't complain as, as Hell1 said I have my own place which is more than some

I hope that our merry band can support each other and share tips or advice :beer:

Bigmoney2

Danni-R wrote: »

Hi, Another one to join the list.

I've found it really hard. I look at how excited my friends are that have done it with their OH and I wish I'd had that. I have a flat and they have houses. Saying that though the difference in cost is only about £15k.

It sucks. Its all on 1 persons head, no job no house. house no money.

I do have a flatmate but I seriously messed up on the budget and way under charged him. I feel I support him sometimes and the only person I have to blame is myself as there is only myself. and there is the end of the rant!


Glad its not just me though!

Couldn't agree more, its amazing that friends in a couple never seem to see this, just think its all easy.


I payed off my first mortgage after 13 years.

Did have a reasonabley well payed job, not far off national average, didn't go on holiday, or go out a lot, so no spending £50 or more at the weekend like a lot of colleagues, don't smoke, no Sky TV.

I never felt I was depriving myself, just managed to live within my means and when I had a large amount saved up, payed a chunk off the mortgage, it wasn't a goal I had specifically set.

I then decided to move and as I was mortgage free it meant I could get a mortgage on new house ( along with some savings) without the need to sell current one, so didn't have the stress of a chain.
As it was a flexible mortgage once first house sold, again a big chunk was paid off.
I still have a small mortgage which I could payoff but as I'm now early retired, if i want to move again decided would stand more chance of borrowing from my existing lender.

Also I could only financially afford to retire at 50 because I had very low housing costs, compared to renting, which meant I could manage on the drop in income.
And a sthere is only me to keep a roof over my head the pension was more secure than the salary with the constant risk of redundancies.


So yes it can be done.
Good luck to you all in your quests for financial freedom.

Radish72

I did it :j

My house, up north (so cheaper) paid back in 11 years

I was mortgage free for 12 days and then sold my house and moved in with the BF

Sold his house 2 weeks ago so now homeless, hoping to complete on our together house in the next 2 weeks so can start again :eek:

downsizer3

Having been in a couple with someone who was most definitely NOT MFW material I can safely say I find this easier!!!
Offloaded the gambling / unemployed ex about 2.5 years ago and downsized with daughter. Now OPing but only in a small way.
Thankfully I had quite a lot of equity in my last place so on a small mortgage my piddly wee OPs seem to make a difference.
It does look easier for couples but believe me - its not always the case!!! ( lets focus on the worst to make ourselves feel better )

I find the MF OP calculator is a massive help - even on our own and only managing a small amount - its still nice to see what an impact that makes.

Danni-R

I havent started to OP yet.

I know I should but I just dont seem to have the dough to do it. And my bank (NW) dont seem to have an easy way to pay money off.

Does everyone on here have a will yet?

I really need to get my a$$ in gear and sort that out. I just never know whats for the best.

bodmil

I've just bought my first place on my own and although I'm jealous of my friends having someone to do it all with, it's such an achievement for it to be all mine. Even seeing the documents from the vendors with one of their Mum's names on the deeds made me extra proud to think that it really is just me. Of course that's a bit terrifying too but it'll be amazing to think that by the time I am ready to move in with someone I have such an asset to bring to the table.

originalmiscellany

I did some of it by myself, and through having lodgers from work...
However, I sleep walked through the first few years of my mortgage, and didn't address the overpayments concept as I thought it was something I just didn't need to do.

In hindsight, I saved lodgers money so it means I could overpay but think it would have been quicker to just overpay from the word go.

Bodmill, it's a great characteristic to have in terms of bringing something to the table when you are married, where even if it's just 1/4 of a house paid off, it's still a great position to be in.

bodmil

Danni-R wrote: »

Hi, Another one to join the list.

I've found it really hard. I look at how excited my friends are that have done it with their OH and I wish I'd had that. I have a flat and they have houses. Saying that though the difference in cost is only about £15k.

It sucks. Its all on 1 persons head, no job no house. house no money.

I do have a flatmate but I seriously messed up on the budget and way under charged him. I feel I support him sometimes and the only person I have to blame is myself as there is only myself. and there is the end of the rant!


Glad its not just me though!

Could you not speak to your flatmate about the rent? If you get along and both enjoy him living there then he might be willing to stump up a bit more? Otherwise you could serve notice and find someone on a higher rate?

Sue_Donim

Another single MFW here, although I do have kids. My experience is similar to Downsizer's - it's actually much easier alone! If I want to eat beans on toast all month to make a bigger OP on my mortgage I can and don't have to please anyone else! Apart from the kids, who I don't just give beans on toast to!
It is a huge feeling of achievement doing this all on my own.

ultrarunner

heavenfire wrote: »

EvOccasionally in the past I have been so overwhelmed by making decisions on my own and scared of making a mistake that I froze and didn't do anything which meant I ended up paying more for my indecision. I'm getting better but it still worries me.

Know what you mean about this :-)