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bubblesmoney wrote: »
nice work chris.
is it possible to choose a daily interest calculation option for the calculator? also is it possible to compare different mortgage providers packages by having an option for factoring in their fees for the mortgage?
Locoblade wrote: »
Looks like it will only work with Excel 2002 and newer.....http://support.microsoft.com/kb/826923
I'll see if I can work out one thats compatible with 2000 or earlier(:eek: ), I suspect some of the equations etc used will screw up in really early versions of Excel anyway, so it might not be possible.
Locoblade wrote: »
Just to note, the first proper bug has been found (thankyou lagi).
If you have a mortgage that has a a split rate, with say 5 years at 5% followed by the remainder at 6%, when you put something like £200 a month in the monthly overpayment box, it won't change the basic payment to the new rate after 5 years, so from year 5 to the end of the loan, it effectively underpays the mortgage slightly and uses some of the overpayment to make up the shortfall, in effect reducing the amount you're actually overpaying.
I'll have a look at rectifying this tonight, so if anyone is planning on spending time putting in their own mortgage figures from years past, you may want to wait for v1.1
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