Loan Amortization in Excel - updated, important!

edited 30 July 2010 at 9:04AM in Mortgage-free wannabe
15 replies 12.4K views
youredsyoureds Forumite
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edited 30 July 2010 at 9:04AM in Mortgage-free wannabe
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.
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Replies

  • youreds,

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

    Thanks
  • youredsyoureds Forumite
    302 Posts
    Part of the Furniture 100 Posts Combo Breaker Mortgage-free Glee!
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    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!
  • exilexil Forumite
    1.2K Posts
    This sort of calculation tends to ignore inflation - which makes the savings from early payments rather less in real terms.
  • 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
  • giraffe25giraffe25 Forumite
    32 Posts
    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
  • Don't shout!! (ignore above post)

    Before you all say i';ve just noticed

    thanks
  • OIMOOIMO Forumite
    6 Posts
    I do not seem to be able to download the spreadsheet at the moment. Is anyone else having problems?

    OIMO
  • davilowndavilown Forumite
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    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
    30th June 2021 completely debt free…. Downsized, reduced working hours and living the dream.
  • exilexil Forumite
    1.2K Posts
    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_BloggsJoe_Bloggs Forumite
    4.5K Posts
    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.
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