My Excel mortgage spreadsheet

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Comments

  • 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
    Locoblade Posts: 795 Forumite
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    Yep there's a dropdown option to reduce or keep payments the same on overpayment, just set it to Keep Same.
    My Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=1157173
  • Giggs_11
    Giggs_11 Posts: 45 Forumite
    This is such a fantastic spreadsheet!! How long did this take to create may I ask haha?
  • Locoblade
    Locoblade Posts: 795 Forumite
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    Ermm far too long! :D

    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.
    My Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=1157173
  • always29
    always29 Posts: 477 Forumite
    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.
  • 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
    My Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=1157173
  • snakee
    snakee Posts: 11 Forumite
    amazing spreadsheet !! great work:beer:
  • mrsp1987
    mrsp1987 Posts: 815 Forumite
    First Anniversary First Post Wedding Day Wonder Cashback Cashier
    Looking forward to finishing work and getting my nerd on with this spreadsheet! Thanks very much
  • mrsp1987
    mrsp1987 Posts: 815 Forumite
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    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?
  • 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!
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