My Excel mortgage spreadsheet

the_penfool

Hi
I have a YBS fixed offset that uses the offset account to reduce the length of the mortgage rather than the montlhy payments - is there any way to show this in the spreadsheet?
Thanks

Locoblade

Yep there's a dropdown option to reduce or keep payments the same on overpayment, just set it to Keep Same.

Giggs_11

This is such a fantastic spreadsheet!! How long did this take to create may I ask haha?

Locoblade

Ermm far too long!

TBH I have no idea, it started off in a relatively simple state for my own requirements in 2008 and when I posted it here and people started using it, bugs were found and new features were suggested so it developed over around 3 years to roughly the state it's still in now.

always29

Locoblade, this is a fabulous (donation worthy!) sheet, thank you so much It didn't tie in perfectly with my HSBC tracker statement but it was out by less than a fiver on £118k so I can cope with that, probably dates or something as we started it mid month.

Locoblade

Many thanks, there'll always be slight difference to real life mortgage figures as mortgage lenders each use different methods of calculating interest (daily interest for example, or sometimes a few weeks in arrears etc). The inbuilt "amortization" calculation in Excel is fairly basic in comparison as it only calculates interest on a monthly basis, but as you've seen it gives a pretty good idea of where the mortgage is going and how it will behave with overpayments etc which was the original intention.

cheers

snakee

amazing spreadsheet !! great work:beer:

mrsp1987

Looking forward to finishing work and getting my nerd on with this spreadsheet! Thanks very much

mrsp1987

Hi there. Not quite sure what I'm doing wrong but I've set up the spreadsheet to start from when I remortgaged last year. In December I made a one-off lump sum payment of £10K. In the spreadsheet I've selected to keep the monthly payments the same after an over-payment. However, it's still showing a reduced minimum monthly payment on the monthly table tab.
Basically, how do I get the spreadsheet to reflect the fact that this OP led to a reduced term not reduced monthly payments for the same term?

Nellybauer

Just wanted to say great spreadsheet.

I was trying to compare re-mortgages from the same provider that offer slightly different interest rates depending if you take a product with a fee or not, if taking the fee, adding it to the loan. They can only tell me the saving over the full term of the mortgage but with this tool I can see the difference over just the initial term, after which I'd be looking at a new deal anyway.

Top work!