Mortgage spreadsheet

Technaut

Hi,
Does anyone have any experience with producing spreadsheets that calculate repayments for a Halifax repayment mortgage?
I’m trying and failing miserably to create a sheet which mirrors the activity on my mortgage account so that I always know how much I am due to pay back.
Any suggestions?

danm

do a search on the forums. i put the formula up a while ago.

Look at the 'PMT' formula in excel. this will help you work out the monthly payments.

Tiddler_2

Microsoft do have a basic template themselves

http://office.microsoft.com/en-us/templates/TC010566201033.aspx?pid=CT101172751033

Although it is in Dollars rather than Pounds they calculation is the same.


It won't work it out exactly though as the Halifax calculate interest on a daily basis, and so the day of the month on which you make your payment changes the interest charged.

I did do an example of the calculations on a thread previously, I'll see if I can dig it out.

herbiesjp

I think GorgeousGeorge (who posts on here) has a spreadsheet which he can point you in the direction of.

Tiddler_2

http://forums.moneysavingexpert.com/showthread.html?t=878549

Here's the previous thread