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My Excel mortgage spreadsheet

edited 7 May 2010 at 9:29PM in Mortgages & Endowments
460 replies 393.6K views
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  • poppy10_2poppy10_2 Forumite
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    It's a truly excellent spreadsheet, thanks Loco :)
    poppy10
  • Wow - loco! That spreadsheet is amazing. :T

    I can barely add up a column of figures in excel!! I am very impressed. Thank you so much for sharing all of your hard work. :beer:
  • Thanks to Loco for this great tool which I have been using for a year or so now.

    I just have one query about the min monthly repayment column (H) in the monthly payments schedule. I am on a tracker and I have altered the interest rates in the G column as they have changed and been applied to my loan. Also, I am on a Woolwich mortgage which recalculates the monthly payment only once a year regardless of changes in interest rates and overpayments. This I have also manually changed in column L - the monthly payment. What's bugging me is that for the first year of the loan, when I made some large overpayments, the recalculation done by Woolwich was a close match for the figure given in min monthly payment. I.e when I got my letter from Woolwich saying "your payment will reduce to 615.37 a month from November", the spreadsheet was predicting 615.77 as min repayment needed in that month - astonishingly close! I was really happy with this, but after making more overpayments this year the disparity between what my lender has calculated as my new payment and what the H column (min monthly payment) is saying is now £70! I am now paying about £400 but the spreadsheet has me down for £333. Loco can you help?

    I've double checked everything and my inputs seem right. Is this a bug, or a result of the fiddlyness of trackers and varied overpayments (about 20k a year on an 85k loan)?????
  • I can't seem to download your file Loco
  • LocobladeLocoblade Forumite
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    OnlyMe_08 wrote: »
    I can't seem to download your file Loco

    Download is working fine for me, a temporary glitch perhaps?
    My Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=1157173
  • LocobladeLocoblade Forumite
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    omikin wrote: »
    Thanks to Loco for this great tool which I have been using for a year or so now.

    I just have one query about the min monthly repayment column (H) in the monthly payments schedule......

    Hi

    Could you either e-mail me your spreadsheet or if you prefer, just the inputs for those columns thus far plus your starting balance / date etc in a separate sheet so I can have a look at what its doing? Email is shown in the spreadsheet first page.

    cheers
    My Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=1157173
  • Locoblade wrote: »
    Download is working fine for me, a temporary glitch perhaps?

    Thanks Loco - file now downloaded
  • jrr3jrr3 Forumite
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    MoneySaving Newbie
    Fantastic spreadsheet, thanks for all your hard work
  • lisa76lisa76 Forumite
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    This is great - well done on such an amazing spreadsheet!
  • crexcrex Forumite
    9 posts
    Thanks very much for all the work you've put into this spreadsheet. As has already been posted, it's a fantastic tool.
    I've been using it to compare 2 lifetime teackers on a £95k remortgage over 27 years. The first has a discount rate of 1.98% for the first year, then 2.99 for the remainder of the term. The second is 2.77% for the whole term. Fee for both is £999. Now, I am clearly misunderstanding something, as I don't follow the considerable discrepancy between the cumulative interest columns in the comparison tab for these 2 mortgages. For the first it is approx. £7.5k, 10.2k and 12.9k for the first 3 years; for the second it is £2.6k, 5.2k and £7.7k for the same period. This pattern continues for the remainder of the term. Can someone explain this please?!
    Thanks
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