My Excel mortgage spreadsheet

191012141548

Comments

  • Teehee... sorry... just doing some free testing for you!

    I see what you're trying to do... it should look up the total cost of mortgage 2 according to mortgage 1 intro period, but the formula is offsetting by mortgage 2 intro period...


    You're welcome :)
  • Cheers, you're right it looks like I forgot to get mortgage 2's value when the mortgage 1 intro period expires.

    Now resolved though, here's v1.7 :)

    http://www.locostfireblade.co.uk/Downloads/Mortgage%20Schedule%20Calculator%20v1.7.xls
    My Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=1157173
  • fudgecat
    fudgecat Posts: 289 Forumite
    First Anniversary Combo Breaker First Post
    Locoblade,
    Thank you for all your hard work on behalf of myself and other moneysavers. You have done a great job.
    Debt September 2020 BIG FAT ZERO!
    Now mortgage free, sort of retired, reducing and reusing and putting money away for grandchildren...
  • MORPH3US
    MORPH3US Posts: 4,906 Forumite
    Combo Breaker First Post
    Excellent work, thank you OP.
  • Ingsy
    Ingsy Posts: 175 Forumite
    First Anniversary Combo Breaker
    Excellent spreadsheet, thanks very much!
  • Prav
    Prav Posts: 71 Forumite
    First Post
    Locoblade, this is a very brilliant spreadsheet. Now I can plan for any eventuality.

    Thanks very much, and keep up the good work!
  • Joe_Bloggs
    Joe_Bloggs Posts: 4,535 Forumite
    Very impressive on Microsoft Office 2007 and also on Open Office 3.0
    Many thanks for your time and hard work.
    J_B.
  • benjdr
    benjdr Posts: 219 Forumite
    I've encountered a situation I cannot replicate in the spreadsheet.

    Lets say I start a mortgage for 100k on Janurary 15th, 2009.
    For easy of numbers, the monthly payment will be £500, and are made on the first of each month.
    However, the first months payment will always be higher, because of the interest accrued from Jan 15th to Feb. i.e. Feb Feb 1st's payment will be 800, or whatever, including the £300 interest from Jan 15th to Feb.

    How do I replicate this in the spreadsheet?
  • Great spreadsheet :j .

    However, I've noticed that if you set the interest rate after intro period to a lower value than the initial interest rate, mortgage repayment time goes down. Also monthly repayment period starts decreasing, so overall repayment period is less than specified.

    In your example I have selected 5.5% interest rate after 2 years - this gives mortgage repayment period of 23.1 years.

    Can you please check this?
  • benjdr
    benjdr Posts: 219 Forumite
    Kalimero70 wrote: »
    Great spreadsheet :j .

    However, I've noticed that if you set the interest rate after intro period to a lower value than the initial interest rate, mortgage repayment time goes down. Also monthly repayment period starts decreasing, so overall repayment period is less than specified.

    In your example I have selected 5.5% interest rate after 2 years - this gives mortgage repayment period of 23.1 years.

    Can you please check this?

    Set input 18 to "Reduce Monthly"?
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