Detailed mortgage overpayment calculator

Janie1975

Hi all,
I'm on a mission to reduce and ultimately pay off my mortgage and have been regularly overpaying the 10% for the last few years. I want to really go for it these next few years to try and get it paid off by the end of the 5 year fixed rate I have which will end July 2027 (just got in in time to get a decent rate thankfully!)
I may be asking the impossible and if I was an Excel genius I could probably create something myself, but I'm not! 
What I'd love is some type of spreadsheet that would show month by month, year by year, how much I would reduce my mortgage dependent on the payments I would make each month. Some months I can pay more off than others and then the odd lump sum here and there so would be great to have some sort of spreadsheet to manipulate the numbers more in depth. 
Can anyone help or suggest anything please?
Thanks in advance.  

jlfrs01

Always worth having a look on the MSE website, just in case...

https://www.moneysavingexpert.com/mortgages/mortgage-overpayment-calculator/

Janie1975

, jlfrs01 said:

Always worth having a look on the MSE website, just in case...

https://www.moneysavingexpert.com/mortgages/mortgage-overpayment-calculator/

 Thanks, I've used this one a lot and it's great but I need one I get right down into the detail with, so if I pay a bulk off in first half of the year how it benefits etc. Really wanted something month by month where you can enter the overpayment and see how it looks. A big ask I know!

Petriix

It's likely that (at the moment at least) paying money into savings accounts will earn more interest than that saved by overpaying your mortgage. It's great to aim for paying it off, but if you're fixed at below the best available savings interest then you're better off building up savings ready to pay the mortgage off when the fix ends. 

Janie1975

Petriix said:

It's likely that (at the moment at least) paying money into savings accounts will earn more interest than that saved by overpaying your mortgage. It's great to aim for paying it off, but if you're fixed at below the best available savings interest then you're better off building up savings ready to pay the mortgage off when the fix ends. 

Thanks Petriix, I'm doing that as well, as have a couple of savings accounts at 6% which will help to pay off next years 10% amount, but I still want to get it down. I've just paid the final payment for this year so that's my full 10% done now (hurrah!) and the MSE calculator said I'd still save more by overpaying mortgage than a savings account so hedging my bets with both! 

LadyWithAPlan

This  is brilliant  and you can keep as a long term record. Tracks both one off and regular OP's - I dont have a mortgage etc but I still play with my figures  re size of deposit etc

s/sheet here 
https://www.locostfireblade.co.uk/spreadsheet/Index.html
and full discussion on it on the thread 
https://forums.moneysavingexpert.com/discussion/1157173/my-excel-mortgage-spreadsheet/p1

Janie1975

LadyWithAPlan said:

This  is brilliant  and you can keep as a long term record. Tracks both one off and regular OP's - I dont have a mortgage etc but I still play with my figures  re size of deposit etc

s/sheet here 
https://www.locostfireblade.co.uk/spreadsheet/Index.html
and full discussion on it on the thread 
https://forums.moneysavingexpert.com/discussion/1157173/my-excel-mortgage-spreadsheet/p1

Thanks so much! That’s really helpful 🙌🏼

LadyWithAPlan

Janie1975 said:

LadyWithAPlan said:

This  is brilliant  and you can keep as a long term record. Tracks both one off and regular OP's - I dont have a mortgage etc but I still play with my figures  re size of deposit etc

s/sheet here 
https://www.locostfireblade.co.uk/spreadsheet/Index.html
and full discussion on it on the thread 
https://forums.moneysavingexpert.com/discussion/1157173/my-excel-mortgage-spreadsheet/p1

Thanks so much! That’s really helpful 🙌🏼

Yes it’s brilliant isn’t it - I have several copies of it in case one corrupts and I don’t have a mortgage yet so tx to locoblade ! 

Enjoy getting those numbers down and winning the game  I think also seeing daily /monthly interest drop is v motivating - 

I have plugged my future  numbers  in eg 300k mortgage v 350k etc and this s/sheet is clearly yelling don’t  buy too  big a house ! Look at what overpayments on a smaller mortgage will do