Overpayment spreadsheet ps??

aliasojo

Only problem with things like these......if you're anything like me, you tend to keep increasing your overpayment amount 'just to see'...and then when you have to go back to being realistic and you put in the actual overpayment amount you can afford.....you get depressed again. :rotfl:

Good sheet though.......I like how I can add the dregs from Herman pig too. Every little helps.

zebedy

thanks for this link, it's just the type of thing I have been looking for.

zebedy

I don't mean to be thick but can someone help please.

I downloaded the spreadsheet provided in an link above from mischief maker and have entered my details for starting balance, starting interest rate, remaining term, starting month on both the regularl payment and regular overpayment pages but I don't understand what to put in the recalculate section.

I usually overpay by £300 per month (where do I add this) and I sometimes make extra overpayments for other amounts (where do I add this)?
I should probably mention that all my overpayments are capital repayments so my usual monthly payment is not affected by my overpayments.

So, I'm not really sure how to get this spreadsheet to work for me but would really like some help.
many thanks

zekepes

Great link! Thanks! I had made one myself but this is definately better/prettier!

zebedy

Thanks for the instructions cake21.
i've done this and see that if I continue to overpay by £300 per month I will reduce my term by 9 years - fantastic!
I don't actually have a standing order set up but I do seem to manage to overpay by £300 per month (since I had the overpayment lightbulb moment earlier this year) and sometimes by a bit more.

it's really exciting to see it all in a spreadsheet (how sad am I!!)

galadriel

Thanks for this link, I have just spent a happy half hour playing with my figures. Like cake21 I kept putting in higher and higher overpayments but then realised I can only afford £50, still that takes 5 years off my mortgage if I can keep it up.

galadriel

sorry just re-read the thread and see now it was aliasojo who, like me was putting higher and higher figures in

we can but dream:D

Optimisticpair

zebedy wrote: »

I don't mean to be thick but can someone help please.

I don't understand what to put in the recalculate section.

IF there is a minimum amount that the lender accepts before they recalculate what you owe enter that amount. If they recalculate interest daily enter 0.

[FONT=&quot][/FONT]I usually overpay by £300 per month (where do I add this) and I sometimes make extra overpayments for other amounts (where do I add this)?

It looks like if you always overpay by 300 you need to use [FONT=&quot]the Regular Payment worksheet columns on the top of the right side in green.[/FONT]

I should probably mention that all my overpayments are capital repayments so my usual monthly payment is not affected by my overpayments.

How about if you enter 0% then?

boinging_2

This is a great java based tool for working out overpayments and lump payments...

http://www.jeacle.ie/mortgage/uk/