My Excel mortgage spreadsheet

13567…48

Comments

  • Locoblade
    Locoblade Posts: 795 Forumite
    Name Dropper First Post First Anniversary
    Looks like it will only work with Excel 2002 and newer.....

    http://support.microsoft.com/kb/826923
    When you open an Excel 2002 or an Excel 2003-protected sheet in Excel 2000 or earlier, the Excel 2003 protection functionality reverts back to the level of protection that was available in that version of Excel. Generally, the new protection features in Excel 2002 and in Excel 2003 are exceptions to the default level of protection. In other words, if you use Excel 2000 to open a workbook that was created in Excel 2003, you are not allowed to make changes that are protected in Excel 2003. Protection options (for example, enabling Insert columns on a protected sheet) do not apply to earlier versions

    I'll see if I can work out one thats compatible with 2000 or earlier(:eek: ), I suspect some of the equations etc used will screw up in really early versions of Excel anyway, so it might not be possible.
    My Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=1157173
  • fattony
    fattony Posts: 168 Forumite
    got it ta, what a numpty i am
  • DilbertJones
    DilbertJones Posts: 670 Forumite
    amazing spreadsheet, many thanks
  • Mrs_Chicken
    Mrs_Chicken Posts: 17 Forumite
    First Anniversary Combo Breaker
    Blimey this is great, thanks so much for letting us share it
  • lagi
    lagi Posts: 590 Forumite
    This is an awesome piece of kit, if i have done it right and i continue to overpay and get good mortgage rates over the years then i can see light at the end of the tunnel.

    Puts things into perspective, thanks.
  • bubblesmoney
    bubblesmoney Posts: 2,156 Forumite
    First Anniversary Combo Breaker
    nice work chris.

    is it possible to choose a daily interest calculation option for the calculator? also is it possible to compare different mortgage providers packages by having an option for factoring in their fees for the mortgage?
    bubblesmoney :hello:
  • Locoblade
    Locoblade Posts: 795 Forumite
    Name Dropper First Post First Anniversary
    bubblesmoney wrote: »
    nice work chris.

    is it possible to choose a daily interest calculation option for the calculator? also is it possible to compare different mortgage providers packages by having an option for factoring in their fees for the mortgage?

    Thanks

    I tried a daily/monthly option which even took into account leap year February extra days to calculate the interest each month, but it made the equations so complicated and I couldn't get it to work properly so I decided to focus on the monthly one to start with.

    Its still embedded in some of the calculations even though its not currently used, so I may re-visit that at some point when my head is a bit less mushed from what Ive done so far to make it work as is :)

    I could put in an "upfront fees" option which will add itself to the yearly totals so you can do comparisons for how much it will cost over x years, rather than manually having to add up front fees yourself to any figures generated. I was also thinking of putting an additional page in for comparing a new mortgage against the existing one, that would probably be easier than daily interest so I might have a go at that at some point.
    My Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=1157173
  • Locoblade
    Locoblade Posts: 795 Forumite
    Name Dropper First Post First Anniversary
    All

    Just to note, the first proper bug has been found (thankyou lagi).

    If you have a mortgage that has a a split rate, with say 5 years at 5% followed by the remainder at 6%, when you put something like £200 a month in the monthly overpayment box, it won't change the basic payment to the new rate after 5 years, so from year 5 to the end of the loan, it effectively underpays the mortgage slightly and uses some of the overpayment to make up the shortfall, in effect reducing the amount you're actually overpaying.

    I'll have a look at rectifying this tonight, so if anyone is planning on spending time putting in their own mortgage figures from years past, you may want to wait for v1.1 :)
    My Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=1157173
  • pstones578
    pstones578 Posts: 480 Forumite
    First Post First Anniversary Combo Breaker
    Locoblade wrote: »
    Looks like it will only work with Excel 2002 and newer.....

    http://support.microsoft.com/kb/826923



    I'll see if I can work out one thats compatible with 2000 or earlier(:eek: ), I suspect some of the equations etc used will screw up in really early versions of Excel anyway, so it might not be possible.

    Serves people rite for using 6+ years old version of software!
    --
    Peter Stones
  • pstones578
    pstones578 Posts: 480 Forumite
    First Post First Anniversary Combo Breaker
    Locoblade wrote: »
    All

    Just to note, the first proper bug has been found (thankyou lagi).

    If you have a mortgage that has a a split rate, with say 5 years at 5% followed by the remainder at 6%, when you put something like £200 a month in the monthly overpayment box, it won't change the basic payment to the new rate after 5 years, so from year 5 to the end of the loan, it effectively underpays the mortgage slightly and uses some of the overpayment to make up the shortfall, in effect reducing the amount you're actually overpaying.

    I'll have a look at rectifying this tonight, so if anyone is planning on spending time putting in their own mortgage figures from years past, you may want to wait for v1.1 :)

    Is it right that if I have a 25 year mortgage I cannot enter 25 years into the initial rate field?
    --
    Peter Stones
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.2K Work, Benefits & Business
  • 607.9K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards