How do you calculate a monthly mortgage repayment?

lil_miss_2

Hi,

I'm trying to produce an excel spreadsheet to see what monthly repayments I would have to make over different mortgages amounts against diff rates.

Could someone please let me know what the formula would be cos I've know got a headache from trying to figure it out!

Also if you could explain how the repayments works I would be very grateful.

I'm considering a 25 year term, and paying back interest plus loan amount monthly.

Thank you

homer_j_3

I think someone has created a spreadsheet on the forum but it escapes me who it was.

The skipton have a good calc for running 3 scenarios at a time

http://www.skipton.co.uk/mortgages/calculators/monthly_payment_calculator.asp

lil_miss_2

Hi

Thank you for pointing me in the right direction.

What did people do before the internet!

KTF

I have made a spreadsheet that does this. If you send me a PM with your details I will email it through to you.