My Excel mortgage spreadsheet
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Just found a bug (if you can call it that). In the mac version (and maybe all) when you put more that 46000 in the monthly overpayments MANUAL column, it all gets screwed up?
Just thought i'd let you know!
:rotfl:If I am putting more than £46,000 in my monthly overpayments I don't think I'll care if the spreadsheet wobbles a bit ."I hear and I forget. I see and I remember. I do and I understand." — Confucius0 -
Yeah, I know it's a strange one LoL - But i should have a lump sum more than that in a few years and want to put it in there0
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I was wondering how you came across it"I hear and I forget. I see and I remember. I do and I understand." — Confucius0
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Well spotted.
Its not £46k as such though, it breaks if you put in an overpayment thats over 50% of the sum remaining so if £45k is Ok but £46k isn't Im assuming you have a mortgage of just over £90k at the point where you anticipate making the overpayment?
The reason it breaks is because in order to tidy up and finish with a zero owed figure at the end of the mortgage, the overpayment column looks at previous monthly payments and if the previous payment was more than the sum now owed, it just pays the sum owed rather than revert back to the normal monthly payment. Its intended for when say you pay £1000 a month but only have £600 left on the mortgage, rather than pay £1000 and then end up at minus £400 (which really screws the spreadsheet!), it just pays £600 to get everything down to zero.
Ive had a quick look and although its easy to fix in itself, it has a knock on effect on other cells which causes more problems than it solves, and this one is harder to rectify, so until I have time to look at it in a bit more depth Id suggest the workaround for now would be to split the overpayment into two seperate payments and put them in a month apart. It wont be 100% accurate but it wont be far off.
cheersMy Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=11571730 -
Thanks mate, yes i'll split them for now0
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Thanks Locoblade for all your hard work. This is fantastic!!!
You must be some clever guy. Thanks for sharing.
Foreversummer0 -
foreversummer wrote: »Thanks Locoblade for all your hard work. This is fantastic!!!
You must be some clever guy. Thanks for sharing.
Foreversummer
LOL many thanks but if you knew me you wouldnt describe me like that I'm sure! It all made sense at the time whilst it was fresh in my head as the spreadsheet started simple and gradually grew, but I must admit now looking at it I sometimes struggle to work out how some of it works or why I did something in a certain manner, so the difficulty of bug fixing is more down to me forgetting stuff than anything elseMy Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=11571730 -
My web space seems to be down so downloads probably aren't working. Hopefully this will be resolved by tonight but I dont know as I cant get hold of the ISP at the moment!My Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=11571730
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Hello Locoblade,
As a relatively new mortgage-free wannabee, I just wanted to highlight your fantastic spreadsheet to others on this forum to give them some further motivation. Especially with some of the new mortgage free challenges starting soon !
Those who haven't tried this spreadsheet yet, will be pleasantly surprised when they look at the effects of their overpayments
Thanks again Locoblade,
SilverI'm very much a believer in
"In what goes around, comes around".
So try and be nice to each other.0
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