The Mortgage Analyser is a Microsoft Excel spreadsheet tool for analysing the detailed payment breakdown of a mortgage. It helps answer questions like:
- What will my monthly payments be?
- What will happen if interest rates change?
- What's the 'real' cost of re-mortgaging, including early repayment charges if you are still on a fixed rate?
- What might happen at the end of a fixed interest rate period?
- What affect does an interest only period have on repayments?
- How much capital have I accumulated? (assuming no change in property value)
- What are the benefits of making overpayments? (i.e. paying off the mortgage sooner and saving interest)
Mortgage Analyser screenshot
Mortgage Analyser Version 3.1 adds functionality to analyse your options for remortgaging, taking into account factors such as early repayment charges and arrangement fees. It enables you to assess the potential impact of interest rate rises (something a lot of home owners would like to know given the likely low variable rate they moved to during the financial crisis).
New in Version 3.0: A further revised user interface, which separates input, analysis and detailed results; Multiple interest rates can be set during the mortgage term; The 'real' cost of remortgaging can be calculated, including early repayment charges if you are still on a fixed rate; Monthly overpayments can now be specified for each individual month.
Mortgage Analyser Version 2.0 adds functionality to analyse the affect of overpayments, showing how much could be saved and how much shorter a mortgage term becomes. I've also removed the password protection on the worksheets, so that people can see how I've put it all together and ultimately, to learn from it (should you discover techniques new to you).
New in Version 2.0: A revised and simplified user interface; Option to input a monthly overpayment; Option to input an annual increase in monthly overpayment (as your earnings may increase); Input message for each entry field; Removed the unnecessary contents worksheet; Password protection removed
Mortgage Analyser Version 1.0 has been designed specifically without any VBA code behind the scenes, so there's no need to 'enable macros'. For Excel versions prior to 2007, you will need to install the 'Analysis ToolPak' Add-in and enable it.
Mortgage Analyser Version 1.0 has been designed specifically without any VBA code behind the scenes, so there's no need to 'enable macros'. For Excel versions prior to 2007, you will need to install the 'Analysis ToolPak' Add-in and enable it.
