Loan Amortization in Excel - updated, important! 27 February 2006 at 12:57PM edited 30 July 2010 at 9:04AM in Mortgage-free wannabe 15 replies 12.4K views

youreds

There is a link to my Mortgage/Savings spreadsheet in another thread.
I just spotted an error in one of my formulae in that any savings out weren't updating the total correctly. I've now corrected the formula & replaced the spreadsheet. The link is still the same, so if you downloaded it prior to 27/2, then please download it again. I'm suprised noone spotted it, perhaps none of you are planning to draw a bit out of your savings!

LINK NOW DEAD _ SORRY.

xlt_hunter

youreds,

where abouts in the spreadsheet was the error? As I have used yours as a template and modded it for my situation.

Thanks

youreds

xlt_hunter wrote:

youreds,

where abouts in the spreadsheet was the error? As I have used yours as a template and modded it for my situation.

Thanks

The formula was wrong in that savings out weren't being deducted from the running total savings. Everything else was fine.

Youreds!

exil

This sort of calculation tends to ignore inflation - which makes the savings from early payments rather less in real terms.

xlt_hunter

exil wrote:

This sort of calculation tends to ignore inflation - which makes the savings from early payments rather less in real terms.

Exil

I am fine tuning my bolt on to a sheet based on this and the loan calc. How would inflation effect the calc? is inflation % to be added to the overall overpayment paid in or somewhere else? I do understand that let say that £1 now may be worth £1.20 in the later years?

I still all lost on this.

Regards

giraffe25

Fantastic calc thanks YOUREDS

Does anyone know or help if there is a Excel calc that you can use for an off set endowement Mortgage.

I'm doing a bit of stoozing and have some savings, so would like to see how much is saved month by month

Thanks folks

giraffe25

Don't shout!! (ignore above post)

Before you all say i';ve just noticed

thanks

OIMO

I do not seem to be able to download the spreadsheet at the moment. Is anyone else having problems?

OIMO

davilown

OIMO wrote:

I do not seem to be able to download the spreadsheet at the moment. Is anyone else having problems?

OIMO

Excel has one on - put a seardh on help for amotization and it should pull it up for you

exil

xlt_hunter wrote:

Exil

I am fine tuning my bolt on to a sheet based on this and the loan calc. How would inflation effect the calc? is inflation % to be added to the overall overpayment paid in or somewhere else? I do understand that let say that £1 now may be worth £1.20 in the later years?

I still all lost on this.

Regards

Use the real interest rate - that is, interest rate minus inflation
eg 7% minus 3% = 4%.

Doesn't affect the "cash" value of repayments but tells you how much they are worth in today's money.

Joe_Bloggs

Has anyone got this spreadsheet to work with the Open Office package ?
This appears to be very similar to Office but is distributed freely by Sun.
http://www.openoffice.org/
I am useless at excel but those familiar with excel seem to get the hang of it.
It's 90Mb to download the entire suite.
J_B.