My Excel mortgage spreadsheet 14 September 2008 at 7:10PM edited 7 May 2010 at 8:29PM in Mortgages & Endowments 463 replies 398K views

ThriftyBeanie

I haven't logged on for ages ..... general malaise after having sorted out my own mortgage. I have from time to time scanned posts to see if anything grabbed my attention, but not much has piqued my interest.

Until this.

What a cracking workbook!! Nice piece of work.

I think I will use this to set my 5 and 10 year plans, my own spreadsheets are now superseded!

As someone else said, thank you for sharing it.

Optimisticpair

Thanks Locoblade - It's brilliant bit of work, I am not very high-tec but think I have worked out what to put in where.

Ian_Griffiths_Halifax

Locoblade, that's a great spreadsheet! Well done. :T I'd say it was better than most on the internet.

Can I suggest though, it would be handy if there was a facility to input a date in the future to start overpaying. Say the person using the spreadsheet knows that they have a loan ending in 2 years time and they can start overpaying at that point. Possibly a 'Stop overpaying at X date' box as well, so that they could just overpay for a certain length of time.

As an example, I often advise clients to overpay on their mortgage when a Car Loan ends, then stop overpaying when they need to change their car and get another loan. That way their outgoings stay the same and they don't get used to the luxury of extra money to spend each month and then go through the pain of having to find money when the car conks out.

Also, a facility to input a Lump Sum at a date in the future. They may have an Endowment maturing at a certain date or a Pension Lump Sum.

Other than that it's very good, though I would have to take your word for its' accuracy ............... My appologies if any of these functions are there already, as I've only had chance to have a quick look over it.

Locoblade

Hi Ian

Those features aren't configurable from the key info page Im afraid, but you can easily add them in by going to the monthly sheet and manually adding them in. For example if you wanted to do £300 a month repayments from the start of year 2 for 12 months, you'd go to the monthly page, scroll down adding £300 manually into the "overpayment" cell corresponding to month 24, then copy that down 12 cells to make the overpayment for the year.

Likewise if you want to put in a single lump overpayment you can put the lump sum figure in the "overpayment" box for the month you want to put the lump sum in.

I could put it in a selection box on the front page but that would possibly limit you to one period of overpayments etc, whereas if you add them manually you can put as many ad-hoc periods in as you wish.

Thanks all for the compliments BTW :beer:

kjharve

Nice looking spreadsheet mate. Is it worth adding an APR to help comparisons?

If you think that would be worthwhile I can knock something up for you to build in.

oki_2

This is a fantastic tool!! Thankyou

jayoh

Wow I'm impressed, this is really useful. I needed to make a decision about whether to stay on my current deal or remortgage and incur many costs. This has helped me work out that it's better to stay on what I'm on for a while as the savings I would make for reducing my mortgage would be less than the cost of actually getting the mortgage in the first place

I am in awe!

2for1

Hi Locoblade, I'm new to the forum but really impressed by your spreadsheet and will be so useful to many. I have a part repayment/part interest mortgage, is there a way I could use the spreadsheet for that type of mortgage? Many thanks!

bubblesmoney

could someone nominate locoblades post for the 'post of the month award' if there is such a thing. i dont know how to nominate posts. the link to this mortgage calculator probably should go out in the weekly email from mse

Jnr_81

Excellent tool, thanks very much! I'm new to the forums but already I'm getting great hints, tips and tools to put me on my money saving way.

One slight problem though, when I go to manually type in an overpayment figure, it tells me the cells are locked/protected, can anyone help. I've tried on the most recent version of excel, and a previous version and both give the same message.