My Excel mortgage spreadsheet

Locoblade

Thanks!! Oh and it's not you, its me, sorry! I dont quite know whats happened as it was fine when I saved the new version last week, but reopening it (which I obviously didnt do!) hides all the tabs for some reason. Now sorted so download again and let me know it's OK.

cheers

edinburgher

Very nicely made spreadsheet

Should 'Starting month of loan' be the first month where I made a payment, or the month when we moved into the property?

Also, the amended mortgage term in years appears as xx.x - for example, 21.3. Is this 21.3 years, or 21 years and 3 months?

Locoblade

Hi

The start month should be when you start borrowing money, don't forget though that the spreadsheet was only originally intended to predict mortgage repayments and toal cost when comparing products you might end up buying, not track actual mortgages once you're repaying. Obviously it still can be used for tracking a mortgage but there are slight limitations such as it only calculates on a monthly basis so effectively assumes you borrow money at the start of the month and pay back at the end of each month. If you actually borrow in the middle of the month but don't start paying until 6 weeks later the end of the following month, your first monthly payment mit be different so you'll need to manually edit the first payments to get it matching as close as possible.

As for the repayment years, it's a decimal as that's all Excel can really calculate so should be read as 21.3 years, although its always going to be within a month or two anyway so doesn't make much difference however you read it.

Cheers

biscuitbob

Hi locoblade, this is my first post on these forums and just wanted to say thanks for such an amazing spreadsheet! I'm an accountant and I'm pretty good with spreadsheets (if I do say so myself!) but this is epic, it must have taken a lot of work so thanks very much for the effort!

sylm_2000

Thank you Chris - absolute and true money saving tool!!

Mentox

I love this sheet and it works great :T

In 2015 I have to remortgage and I would like to pay off an extra amount. And in 2018 I will do likely the same.

How can I implement this in the sheet?

The way I have done it now is adding the amount to the "Monthly Overpayment" (adding an extra +number at the end of the cell).

However this messes up some other calculations so I am wondering what the best way is to do this.

Locoblade

Mentox wrote: »

The way I have done it now is adding the amount to the "Monthly Overpayment" (adding an extra +number at the end of the cell).

However this messes up some other calculations so I am wondering what the best way is to do this.

I don't really understand what you're doing when you say that you're "adding an extra +number at the end of the cell". If theres already a regular overpayment in the relevant month's column in 2015 and again in 2018, can you not just add the two figures together into one larger number?

Popz

Hi

I don't suppose this is compatible with Google Docs?

Locoblade

Dont know, give it a try
Probably best trying the compatibility version, it's more likely to work with apps other than Excel.

mobilekid

Hi, it would be great to add support for mortgages for shared-ownership property purchases. It would be useful to see all the outgoings on a single documents.
Thanks.