My Excel mortgage spreadsheet

Mathsguy

Teehee... sorry... just doing some free testing for you!

I see what you're trying to do... it should look up the total cost of mortgage 2 according to mortgage 1 intro period, but the formula is offsetting by mortgage 2 intro period...


You're welcome

Locoblade

Cheers, you're right it looks like I forgot to get mortgage 2's value when the mortgage 1 intro period expires.

Now resolved though, here's v1.7

http://www.locostfireblade.co.uk/Downloads/Mortgage%20Schedule%20Calculator%20v1.7.xls

fudgecat

Locoblade,
Thank you for all your hard work on behalf of myself and other moneysavers. You have done a great job.

MORPH3US

Excellent work, thank you OP.

Ingsy

Excellent spreadsheet, thanks very much!

Prav

Locoblade, this is a very brilliant spreadsheet. Now I can plan for any eventuality.

Thanks very much, and keep up the good work!

Joe_Bloggs

Very impressive on Microsoft Office 2007 and also on Open Office 3.0
Many thanks for your time and hard work.
J_B.

benjdr

I've encountered a situation I cannot replicate in the spreadsheet.

Lets say I start a mortgage for 100k on Janurary 15th, 2009.
For easy of numbers, the monthly payment will be £500, and are made on the first of each month.
However, the first months payment will always be higher, because of the interest accrued from Jan 15th to Feb. i.e. Feb Feb 1st's payment will be 800, or whatever, including the £300 interest from Jan 15th to Feb.

How do I replicate this in the spreadsheet?

Kalimero70

Great spreadsheet :j .

However, I've noticed that if you set the interest rate after intro period to a lower value than the initial interest rate, mortgage repayment time goes down. Also monthly repayment period starts decreasing, so overall repayment period is less than specified.

In your example I have selected 5.5% interest rate after 2 years - this gives mortgage repayment period of 23.1 years.

Can you please check this?

benjdr

Kalimero70 wrote: »

Great spreadsheet :j .

However, I've noticed that if you set the interest rate after intro period to a lower value than the initial interest rate, mortgage repayment time goes down. Also monthly repayment period starts decreasing, so overall repayment period is less than specified.

In your example I have selected 5.5% interest rate after 2 years - this gives mortgage repayment period of 23.1 years.

Can you please check this?

Set input 18 to "Reduce Monthly"?