My Excel mortgage spreadsheet

markie76_2

Hi Joe,

Easy. I use an app called snagit which specialises in taking screen shots.

It has a function which scrolls the window and takes a screen shot while its scrolling. (to capture something that doesn't all fit on the screen)

1. Take screenshot & save as jpeg.
2. Upload to www.tinypic.com with 'resize' option set to the desized size & save.
3. TInypic then gives you a choice of links; direct, website, message board
4. Copy message board link and paste into your post and voila!

Or if it fits on the screen I press 'PRTSCRN', paste into MS Paint (start, run, mspaint), save it as a jpeg, then steps 2-4.

Mark.

Gorgeous_George

In Excel, another option is to hold shift down and selecting Edit - Copy Picture.

Next, I paste it into Word and then copy it to Photoshop and upload to Photobucket or other file sharing website.

GG

Locoblade

Glad you got it sorted, as you've worked out, if you have a high interest rate then it drops, by selecting "keep same" the payments stay the same as what you were paying on the higher rate, which obviously overpays so pays it off quicker.

Learning_slowly

Locoblade wrote: »

Glad you got it sorted, as you've worked out, if you have a high interest rate then it drops, by selecting "keep same" the payments stay the same as what you were paying on the higher rate, which obviously overpays so pays it off quicker.

Locoblade this is a terrific tool - many thanks :j

One question. Let's say you have a £100K mortgage with an intro offer of 4% then it goes up to 5% after 2 years. One puts this info in the key figures section. Now correct me if I'm wrong but normally mortgage providers after the discounted period, in this eg 2 years, they will by default reduce the payments. Therefore, we select 'Reduce Monthly' in the key figures page. However, if this happens and one then starts to overpay with a view to paying the mortgage off more quickly can the spreadsheet deal with this? So a section of it would be reduce monthly then the remainder would be keep the same.

Forgive me if this has been asked before - I haven't read every single post.

Many thanks again!

Learning slowly

Locoblade

Hi

after the discounted period, in this eg 2 years, they will by default reduce the payments

I think you meant increase the payments here didnt you, because higher interest rate in year 3 means higher payments?

So, with your example of a lower introductory rate followed by a higher rate for the remainder, you don't need to select "Reduce Monthly" because after 2 years the minimum monthly will go up, so the spreadsheet will take this into account and increase the montly payment in month 25 regardless of whether you've selected Keep Same or Reduce. You can then add your overpayments etc and it will continue to keep the monthly payment the same as if you hadnt overpaid, so shortening the term.

cheers

skaps

Using the spreadsheet if i continue to pay the amount im paying my mortgage term will be reduced from 30 years to 17 years. This includes the OP i am making of £60.11 from February 2010. If i did not overpay but continued to pay the amount im paying every month it would be 18 years. Wow little payments do make a difference.

Thanks so much for the spreadsheet. All your hard work is greatly appreciated.

pramsay13

As others have said this looks like a great document. I've tried a few times to use mortgage calculators to see what effect overpayments have, but their calculators are so basic.
They should have something like this instead.:T

notisis

Thanks Locoblade for a great spreadsheet. Exactly what I was looking for.

Locoblade

Just uploaded v1.10. Its not a bug fix, I've just relaxed the formatting restrictions so you can change column widths and hide columns if required.

See links on first page to download

cheers

kaych

thank you so much for the spreadsheet, it looks so comprehensive. going to have my first mortgage soon. the spreadsheet will be so useful to keep track. thanks!!