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How to work out how much I owe?
Kaemi
Posts: 148 Forumite
Hi, I'm currently drawing up a spreadsheet to help me track any overpayments we make on the mortgage and how this impacts upon the date we clear it. I'm a little stuck at the first hurdle, can anyone help me with a formula to tell me my current mortgage balance? We took it out 28th May 2010, and have paid off £845.45 on the 26th of every month since then. It is at 5.9% fixed on a 25 year term. We borrowed £132,000. I'm hoping once I work out this formula I can input it to automatically tell me each month what it drops to if I don't make overpayments, and what it drops to if I do.
Thanks for reading a new MFW ramblings.
Thanks for reading a new MFW ramblings.
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Comments
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Have you thought of downloading a spreadsheet thats already been made?
http://forums.moneysavingexpert.com/showpost.php?p=14182811&postcount=1
That one I've been using (only last few weeks as I want to know how much things will cost and how much I could overpay) and its pretty useful...0 -
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