My Excel mortgage spreadsheet

jjjenny

Can I just say how useful this spreadsheet is? It has been such a help getting my head around the repayments and overpayments etc... spot on, thank you!

Susie1_2

Thank you so much for this brilliant spreadsheet. I've been using it for a while now, and really appreciate its flexibility. We have an offset mortgage and it's helping us keep on track to pay off our mortgage five years early with a combination of overpayments and offset savings.

thedwin

This is a great tool, well done in developing it. I use overpayments into my mortgage to save money to redraw later. I would like to keep a spreadsheet of these savings so that I can start a savings account for my new baby that will pay a higher rate of interest than term deposit while bringing down my mortgage also. I have searched high and low to find a spreadsheet that can track payments as I make them - there are plenty of savings calculators out there but I'll be !!!!!!ed if I can find a tracking spreadsheet.

Could something like this included or would anyone have any idea where I could find such a thing?

Cheers

Locoblade

Hi

Sorry if Ive got the wrong end of the stick on what you're trying to track, but if it's a total of all your overpayments then the spreadsheet already does that. When you add the overpayment each month to the "Monthly Overpayment" column within the monthly table tab, the spreadsheet keeps a running total of those overpayments in the "Cumulative Overpayment" column, so at the end of your chosen month you'd know how much you could withdraw without eating into the capital thats been paid off by your base mortgage payments.

If it's not that, can you give me an example of what you're trying to achieve and I'll have a think about it.

cheers

thedwin

Thanks for your reply Locoblade, upon further reflection what I am after really is not what you designed the spreadsheet to perform at all.

Below is what I'm searching for anyhow, if you or anyone knows of anything that will help me out.

I use extra payments on my mortgage to save money and I realise that your spreadsheet will keep a tally of this overpaid amount but I was wanting separate accounts for these payments to keep track of separate savings.

For example, my mortgage is currently charging me 6.67%pa. I make extra payments on my mortgage of $300 a month over the minimum, $100 which is to pay my principle down faster, $100 for a holiday fund and $100 for my childs education fund.

I would like to track these separately but also only apply 5% return to the holiday and education funds, therefore still getting a good return on savings and a little bit of extra good for the mortgage.

I have looked at numerous accounting software packages but can't find any that will automatically add interest and compound it. The app really wouldn't need to include the mortgage part, it would just need to track savings accounts at 5% interest - all I can find is calculators not trackers.

Again, thanks for your reply and if you know of any spreadsheets or other software out there that could do this I'd greatly appreciate being pointed in the right direction.

Cheers

Locoblade

Ah I see now, yes that's all rather complicated isnt it. If you use the compare to savings option the underlying info may be calculated in the spreadsheet so I'll have a think and see if it's there, and if so if theres a way of extracting it.

thedwin

Beauty, thanks for that Loco. Sorry about the late reply, I had my first child born last week so have been pretty distracted lately.

Locoblade

I know how you feel as we had our second 3 months ago. Its great, but bloody hard work and TBH I havent had another look since but I will do over the next few days if I get chance.

allisond

Hi

I have downloaded both spreadsheets ok, but both say that they are encrypted and can't be opened. I am using numbers on a Mac, which can read excel spreadsheets. Any ideas?

Many thanks

Locoblade

I believe my compatibility version works OK in the Mac version of Excel but I'm assuming Numbers is some kind of cut down basic spreadsheet app that comes bundled with OSX? If so I suspect that although it may cope with simple xls spreadsheets, it probably cant deal with a lot of the more advanced stuff, and in your case it seems to be seeing the locked cells/sheets as if the entire spreadsheet it encrypted.

Sorry I cant be of more help, maybe someone else with a Mac can confirm it's limitations compared to Mac Excel.