Excel Skills UK Mortgage Calculator

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Excel Skills UK Mortgage Calculator Powered By Docstoc
					Excel Skills UK | Mortgage Calculator Template
Instructions
                                                                                                           www.excel-skills.co.uk

Mortgage calculators are sometimes also referred to as home loan calculators or mortgage calculators. The aim of this free Excel
template is to enable users to calculate monthly mortgage repayments, determine the affordability of a home loan, calculate the
interest savings that result from increased mortgage instalments and measure the sensitivity of mortgage repayments to changes in
interest rates. After using this template, you will also gain a better understanding of home loan amortization and specifically the
timing of capital repayments on a mortgage.

The following sheets are included in this template:

MortgageCalculator Sheet

All the calculations in this template are based on the values that are entered in the input cells from cell B4 to B9 on the
MortgageCalculator sheet (except for the net disposable income calculation). Input guidance is displayed below the selected input
cell. We have also added data validation to all input cells to ensure that only valid user input is accepted.

Calculation Results:

The monthly mortgage repayment amount is calculated from the mortgage principle amount (cell B4), mortgage period (cell B6)
and the annual interest rate (cell B5).
The total interest paid over the entire mortgage period is the total amount of interest that will have to be paid over the entire
mortgage period.
The total mortgage repayment over the mortgage period is the sum of all the monthly mortgage repayment amounts. This amount
consists of all interest charges and capital repayments.
The monthly net disposable Income is calculated on the NetDisposable sheet - refer to this sheet for more information on the
calculation.
The maximum mortgage qualification amount is calculated based on the net disposable income, annual interest rate and mortgage
period. It represents an estimate of the maximum mortgage amount that applicants can qualify for based on their combined monthly
net disposable income. There are a number of other factors that financial institutions will consider when determining the maximum
mortgage qualification amount - our calculation should therefore only be seen as an estimate which cannot be guaranteed.
The minimum required net disposable income is the minimum net disposable income that is required in order to qualify for the
mortgage principle amount that is entered in cell B4.
The interest rate safety percentage indicates the percentage by which interest rates have to increase before the monthly net
disposable income would not be sufficient to cover the required monthly mortgage repayments.
The increased instalment calculations in row 21 to 26 are based on the additional monthly mortgage repayment that is entered in
cell B7. The assumption is made that the entire additional mortgage repayments are deducted from the outstanding capital
balance, thereby resulting in a shorter mortgage repayment period. Note that the present value of the interest saving is calculated
by discounting the monthly interest savings by the average annual inflation rate over the entire mortgage period. It therefore
represents the value of future interest savings in today's monetary terms.
The interest rate sensitivity calculation measures the effect that changes in the mortgage interest rate have on monthly mortgage
repayments. The interest rate sensitivity percentage that is entered in cell B8 is used for this purpose.
The capital repayment chart is a visual display of the timing of capital repayments over the entire mortgage period.
The increased instalment interest saving chart is a visual display of the interest savings that result from effecting increased monthly
mortgage repayments.

NetDisposable Sheet

This sheet includes a detailed calculation of the monthly net disposable income. All values should be entered as positive values.
Refer to the guidance that has been included from row 38 downwards for more information on the input that is required in each
input cell.

AnnualAmort Sheet

This sheet includes an annual amortization table that is based on the mortgage input values that are entered in cell B4 to B6 on the
MortgageCalculator sheet. We recommend that you pay special attention to the outstanding capital percentage in column G as it
indicates how the capital will be repaid over the entire mortgage period. You'll notice that during the first few years of the mortgage
repayment period, the monthly mortgage repayments consist almost entirely of interest.

MonthAmort Sheet

This sheet includes a monthly amortization table that is based on the mortgage input values that are entered in cell B4 to B6 on the
MortgageCalculator sheet.

Help

If you experience any difficulty while using this template, please e-mail us at support@excel-skills.co.uk for assistance.




                                                                             Page 1 of 11
Mortgage Calculator                                 www.excel-skills.co.uk                                       Capital Repayment
                                                                             120,000                                                               Capital Repayment
Input Variables
Mortgage Amount                                  100,000.00                  100,000
Annual Interest Rate                                   3.5%
Mortgage Period in Years                                 25                   80,000
Additional Monthly Mortgage Repayment                200.00
Annual Interest Rate Sensitivity                       5.5%                   60,000
Average Annual Inflation Rate                          3.0%
                                                                              40,000

Calculation Results
                                                                              20,000
Monthly Mortgage Repayment                           500.62
Total Interest over Mortgage Period               50,187.07                        0
Total Mortgage Repayment over Mortgage Period    150,187.07                    Years 1       4   7          10        13     16       19      22       25            28

Net Disposable Income                                   750
Maximum Mortgage Qualification Amount            149,813.16                                          Increased Instalment - Interest Saving           Amortization
Minimum Required Net Disposable Income                  501                                                                                           Increased Instalment
                                                                              60,000
Interest Rate Safety                                  4.17%
                                                                              50,000
Increased Instalment Repayment Amount                700.62
Total Adjusted Interest over Mortgage Period      29,510.37                   40,000
Adjusted Mortgage Repayment Period (in months)       184.85
Adjusted Mortgage Repayment Period (in years)         15.40                   30,000
Interest Saving                                   20,676.71
Present Value of Interest Saving                  13,744.32                   20,000

                                                                              10,000
Monthly Mortgage Repayment @ 3.5%                   500.62
Monthly Mortgage Repayment @ 5.5%                   614.09
                                                                                     0
Monthly Difference                                  113.46
                                                                             Years       1   4   7         10        13      16      19       22      25             28




                                                                             Page 2 of 11
     Net Disposable Income Calculation                                                                                                                                    www.excel-skills.co.uk
     Remuneration                                                                             Operational Expenses                           Financing Expenses
     Gross Salary                                                                750      1   Rent Paid                             -   18   Mortgage Repayments                       -    42
     Subsidies Received                                                          -        2   Water, Electricity & Gas              -   19   Personal Loan Instalments                 -    43
     Commission Received                                                         -        3   Council Tax                           -   20   Financing - Motor Vehicles                -    44
     Total Allowances                                                            -        4   Repairs & Maintenance                 -   21   Financing - Computers                     -    45
     Other                                                                       -        5   Levies Paid                           -   22   Financing - Furniture                     -    46
     Total Gross Remuneration                                                    750          Telephone / Mobile Phone / Internet   -   23   Credit Card Repayments                    -    47
     Deductions                                                                               Insurance - Short Term                -   24   Bank Charges                              -    48
     Pension                                                                     -        6   Insurance - Life                      -   25   Other                                     -    49
     Medical Aid                                                                 -        7   Medical Costs                         -   26   Total Financing Expenses                  -
     Retirement Annuity                                                          -        8   Investments - Retirement Annuities    -   27
     Income Tax (PAYE)                                                           -        9   Investments - Other                   -   28
     National Insurance (NI)                                                     -       10   Donations                             -   29
     Other Tax Deductions                                                        -       11   Education                             -   30
     Other Deductions                                                            -       12   Fuel & Vehicle Maintenance            -   31
     Total Deductions                                                            -            Television Rental                     -   32
     Net Remuneration                                                            750     13   Memberships                           -   33
                                                                                              Subscriptions                         -   34
     Other Income                                                                             Domestic Wages                        -   35
     Dividend Income                                                              -      14   Gardening                             -   36
     Rental Income                                                                -      15   Groceries                             -   37
     Maintenance                                                                  -      16   Clothing                              -   38
     Monthly Pension                                                              -      17   Entertainment                         -   39
     Total Other Income                                                           -           Maintenance Payments                  -   40
                                                                                              Other                                 -   41
                                                                                              Total Operational Expenses            -



     Net Disposable Income Calculation
     Net Remuneration                                                            750
     Add: Other Income                                                           -
     Less: Operational Expenses                                                  -
     Less: Financing Expenses                                                    -
     Net Disposable Income                                                      750


     Input Field Guidance
 1   Enter the combined monthly gross household salaries
 2   Enter total of all subsidies received as part of remuneration, e.g.. housing subsidy
 3   Enter the average monthly commission received
 4   Enter the total monthly allowances received as part of remuneration, e.g.. travel allowance, mobile phone allowance, etc.
 5   Enter the total of any other remuneration received
 6   Enter the total monthly pension fund deductions
 7   Enter the total monthly medical aid deductions
 8   Enter the total monthly retirement annuity contributions
 9   Enter the total monthly income tax deducted
10   Enter the total NI deducted




                                                                                                         Page 3 of 11
     Net Disposable Income Calculation                                                                                                                                               www.excel-skills.co.uk
11   Enter the total of any other income tax deductions
12   Enter the total of all other deductions, e.g.. funeral plan
13   This amount represents the monthly combined net remuneration
14   Enter the average monthly dividend income
15   Enter the monthly average rental income received from existing buy to let properties
16   Enter monthly maintenance amount received from a previous spouse
17   Enter the total monthly pension received
18   Enter the total monthly rent paid. If a primary residence is being acquired and a property is currently being rented, the rent amount should be excluded from the calculation
19   Enter the monthly average for water, electricity and gas payments
20   Enter the monthly council tax paid on properties owned
21   Enter the average monthly repairs and maintenance on existing properties
22   Enter the monthly levy payable to a body corporate for properties that form part of a complex
23   Enter the average monthly telephone, mobile phone and internet expense
24   Enter the current monthly insurance premium
25   Enter the current monthly life insurance premium
26   Enter the average monthly medical costs that are not covered by a medical aid
27   Enter the total monthly premiums associated with retirement annuities
28   Enter the average monthly payments relating to other investments
29   Enter the average monthly donations amount
30   Enter the average monthly education cost, e.g.. school fees
31   Enter the average monthly vehicle fuel and maintenance costs
32   Enter the monthly subscription fee applicable to television / cable rentals
33   Enter the monthly average membership cost, e.g.. gym membership
34   Enter the total monthly subscription fees applicable to newspapers, magazines, etc.
35   Enter the total monthly domestic wages, e.g.. housekeeper wages, gardener wages, etc.
36   Enter the average monthly cost associated with gardening services / landscaping
37   Enter the average monthly grocery spend
38   Enter the average monthly clothing spend
39   Enter the average monthly cost associated with entertainment, take-outs and restaurants
40   Enter a monthly total for maintenance payments relating to estranged spouses and dependents
41   Enter total monthly cost of any other expense items that do not form part of any of the other categories
42   Enter a monthly total for existing mortgage repayments
43   Enter a monthly total for personal loan repayments
44   Enter a monthly total for motor finance repayments
45   Enter a monthly total for computer finance repayments
46   Enter a monthly total for furniture finance repayments
47   Enter a monthly total for credit card repayments
48   Enter the average monthly combined bank charges
49   Enter a total for any other financing payments that do not form part of the other financing cost categories

     Note: If you're experiencing any difficulty in completing this spreadsheet, we recommend using our Personal Finance template to analyze your monthly household expenses.




                                                                                                          Page 4 of 11
Annual Amortization Table                                                       www.excel-skills.co.uk

             Opening           Loan         Interest                        Closing        % Capital
  Years      Balance        Repayment      Charged         Capital Repaid   Balance       Outstanding
    1          100,000.00       6,007.48        3,459.38         2,548.10     97,451.90          97.5%
    2           97,451.90       6,007.48        3,368.75         2,638.73     94,813.17          94.8%
    3           94,813.17       6,007.48        3,274.90         2,732.58     92,080.59          92.1%
    4           92,080.59       6,007.48        3,177.71         2,829.77     89,250.82          89.3%
    5           89,250.82       6,007.48        3,077.07         2,930.42     86,320.40          86.3%
    6           86,320.40       6,007.48        2,972.84         3,034.64     83,285.76          83.3%
    7           83,285.76       6,007.48        2,864.91         3,142.58     80,143.19          80.1%
    8           80,143.19       6,007.48        2,753.14         3,254.35     76,888.84          76.9%
    9           76,888.84       6,007.48        2,637.39         3,370.09     73,518.74          73.5%
    10          73,518.74       6,007.48        2,517.52         3,489.96     70,028.79          70.0%
    11          70,028.79       6,007.48        2,393.40         3,614.09     66,414.70          66.4%
    12          66,414.70       6,007.48        2,264.86         3,742.63     62,672.07          62.7%
    13          62,672.07       6,007.48        2,131.74         3,875.74     58,796.33          58.8%
    14          58,796.33       6,007.48        1,993.89         4,013.59     54,782.74          54.8%
    15          54,782.74       6,007.48        1,851.14         4,156.34     50,626.40          50.6%
    16          50,626.40       6,007.48        1,703.31         4,304.17     46,322.23          46.3%
    17          46,322.23       6,007.48        1,550.23         4,457.26     41,864.98          41.9%
    18          41,864.98       6,007.48        1,391.70         4,615.79     37,249.19          37.2%
    19          37,249.19       6,007.48        1,227.53         4,779.96     32,469.24          32.5%
    20          32,469.24       6,007.48        1,057.52         4,949.96     27,519.27          27.5%
    21          27,519.27       6,007.48         881.46          5,126.02     22,393.25          22.4%
    22          22,393.25       6,007.48         699.15          5,308.34     17,084.92          17.1%
    23          17,084.92       6,007.48         510.35          5,497.14     11,587.78          11.6%
    24          11,587.78       6,007.48         314.83          5,692.65      5,895.12           5.9%
    25           5,895.12       6,007.48         112.36          5,895.12             -           0.0%
    26                 -             -                 -              -               -           0.0%
    27                 -             -                 -              -               -           0.0%
    28                 -             -                 -              -               -           0.0%
    29                 -             -                 -              -               -           0.0%
    30                 -             -                 -              -               -           0.0%




                                           Page 5 of 11
Monthly Amortization Table                                                     www.excel-skills.co.uk

 Repayment     Opening          Loan        Interest                       Closing        % Capital
  Number       Balance       Repayment     Charged        Capital Repaid   Balance       Outstanding
     1          100,000.00        500.62         291.67           208.96     99,791.04         99.79%
     2           99,791.04        500.62         291.06           209.57     99,581.48         99.58%
     3           99,581.48        500.62         290.45           210.18     99,371.30         99.37%
     4           99,371.30        500.62         289.83           210.79     99,160.51         99.16%
     5           99,160.51        500.62         289.22           211.41     98,949.10         98.95%
     6           98,949.10        500.62         288.60           212.02     98,737.08         98.74%
     7           98,737.08        500.62         287.98           212.64     98,524.44         98.52%
     8           98,524.44        500.62         287.36           213.26     98,311.18         98.31%
     9           98,311.18        500.62         286.74           213.88     98,097.30         98.10%
     10          98,097.30        500.62         286.12           214.51     97,882.79         97.88%
     11          97,882.79        500.62         285.49           215.13     97,667.66         97.67%
     12          97,667.66        500.62         284.86           215.76     97,451.90         97.45%
     13          97,451.90        500.62         284.23           216.39     97,235.51         97.24%
     14          97,235.51        500.62         283.60           217.02     97,018.49         97.02%
     15          97,018.49        500.62         282.97           217.65     96,800.84         96.80%
     16          96,800.84        500.62         282.34           218.29     96,582.55         96.58%
     17          96,582.55        500.62         281.70           218.92     96,363.63         96.36%
     18          96,363.63        500.62         281.06           219.56     96,144.06         96.14%
     19          96,144.06        500.62         280.42           220.20     95,923.86         95.92%
     20          95,923.86        500.62         279.78           220.85     95,703.01         95.70%
     21          95,703.01        500.62         279.13           221.49     95,481.52         95.48%
     22          95,481.52        500.62         278.49           222.14     95,259.39         95.26%
     23          95,259.39        500.62         277.84           222.78     95,036.60         95.04%
     24          95,036.60        500.62         277.19           223.43     94,813.17         94.81%
     25          94,813.17        500.62         276.54           224.09     94,589.09         94.59%
     26          94,589.09        500.62         275.88           224.74     94,364.35         94.36%
     27          94,364.35        500.62         275.23           225.39     94,138.95         94.14%
     28          94,138.95        500.62         274.57           226.05     93,912.90         93.91%
     29          93,912.90        500.62         273.91           226.71     93,686.19         93.69%
     30          93,686.19        500.62         273.25           227.37     93,458.82         93.46%
     31          93,458.82        500.62         272.59           228.04     93,230.78         93.23%
     32          93,230.78        500.62         271.92           228.70     93,002.08         93.00%
     33          93,002.08        500.62         271.26           229.37     92,772.71         92.77%
     34          92,772.71        500.62         270.59           230.04     92,542.68         92.54%
     35          92,542.68        500.62         269.92           230.71     92,311.97         92.31%
     36          92,311.97        500.62         269.24           231.38     92,080.59         92.08%
     37          92,080.59        500.62         268.57           232.06     91,848.53         91.85%
     38          91,848.53        500.62         267.89           232.73     91,615.80         91.62%
     39          91,615.80        500.62         267.21           233.41     91,382.39         91.38%
     40          91,382.39        500.62         266.53           234.09     91,148.30         91.15%
     41          91,148.30        500.62         265.85           234.77     90,913.53         90.91%
     42          90,913.53        500.62         265.16           235.46     90,678.07         90.68%
     43          90,678.07        500.62         264.48           236.15     90,441.92         90.44%
     44          90,441.92        500.62         263.79           236.83     90,205.09         90.21%
     45          90,205.09        500.62         263.10           237.53     89,967.56         89.97%
     46          89,967.56        500.62         262.41           238.22     89,729.34         89.73%
     47          89,729.34        500.62         261.71           238.91     89,490.43         89.49%
     48          89,490.43        500.62         261.01           239.61     89,250.82         89.25%
     49          89,250.82        500.62         260.31           240.31     89,010.51         89.01%
     50          89,010.51        500.62         259.61           241.01     88,769.50         88.77%
     51          88,769.50        500.62         258.91           241.71     88,527.79         88.53%
     52          88,527.79        500.62         258.21           242.42     88,285.37         88.29%
     53          88,285.37        500.62         257.50           243.12     88,042.25         88.04%
     54          88,042.25        500.62         256.79           243.83     87,798.41         87.80%
     55          87,798.41        500.62         256.08           244.54     87,553.87         87.55%
     56          87,553.87        500.62         255.37           245.26     87,308.61         87.31%
     57          87,308.61        500.62         254.65           245.97     87,062.64         87.06%
     58          87,062.64        500.62         253.93           246.69     86,815.95         86.82%
     59          86,815.95        500.62         253.21           247.41     86,568.54         86.57%
     60          86,568.54        500.62         252.49           248.13     86,320.40         86.32%
     61          86,320.40        500.62         251.77           248.86     86,071.55         86.07%
     62          86,071.55        500.62         251.04           249.58     85,821.97         85.82%




                                                  Page 6 of 11
Monthly Amortization Table                                                     www.excel-skills.co.uk

 Repayment     Opening          Loan        Interest                       Closing        % Capital
  Number       Balance       Repayment     Charged        Capital Repaid   Balance       Outstanding
    63           85,821.97        500.62         250.31           250.31     85,571.66         85.57%
    64           85,571.66        500.62         249.58           251.04     85,320.62         85.32%
    65           85,320.62        500.62         248.85           251.77     85,068.85         85.07%
    66           85,068.85        500.62         248.12           252.51     84,816.34         84.82%
    67           84,816.34        500.62         247.38           253.24     84,563.10         84.56%
    68           84,563.10        500.62         246.64           253.98     84,309.12         84.31%
    69           84,309.12        500.62         245.90           254.72     84,054.39         84.05%
    70           84,054.39        500.62         245.16           255.46     83,798.93         83.80%
    71           83,798.93        500.62         244.41           256.21     83,542.72         83.54%
    72           83,542.72        500.62         243.67           256.96     83,285.76         83.29%
    73           83,285.76        500.62         242.92           257.71     83,028.05         83.03%
    74           83,028.05        500.62         242.17           258.46     82,769.60         82.77%
    75           82,769.60        500.62         241.41           259.21     82,510.38         82.51%
    76           82,510.38        500.62         240.66           259.97     82,250.42         82.25%
    77           82,250.42        500.62         239.90           260.73     81,989.69         81.99%
    78           81,989.69        500.62         239.14           261.49     81,728.20         81.73%
    79           81,728.20        500.62         238.37           262.25     81,465.95         81.47%
    80           81,465.95        500.62         237.61           263.01     81,202.94         81.20%
    81           81,202.94        500.62         236.84           263.78     80,939.16         80.94%
    82           80,939.16        500.62         236.07           264.55     80,674.61         80.67%
    83           80,674.61        500.62         235.30           265.32     80,409.28         80.41%
    84           80,409.28        500.62         234.53           266.10     80,143.19         80.14%
    85           80,143.19        500.62         233.75           266.87     79,876.31         79.88%
    86           79,876.31        500.62         232.97           267.65     79,608.66         79.61%
    87           79,608.66        500.62         232.19           268.43     79,340.23         79.34%
    88           79,340.23        500.62         231.41           269.21     79,071.02         79.07%
    89           79,071.02        500.62         230.62           270.00     78,801.02         78.80%
    90           78,801.02        500.62         229.84           270.79     78,530.23         78.53%
    91           78,530.23        500.62         229.05           271.58     78,258.65         78.26%
    92           78,258.65        500.62         228.25           272.37     77,986.28         77.99%
    93           77,986.28        500.62         227.46           273.16     77,713.12         77.71%
    94           77,713.12        500.62         226.66           273.96     77,439.16         77.44%
    95           77,439.16        500.62         225.86           274.76     77,164.40         77.16%
    96           77,164.40        500.62         225.06           275.56     76,888.84         76.89%
    97           76,888.84        500.62         224.26           276.36     76,612.47         76.61%
    98           76,612.47        500.62         223.45           277.17     76,335.30         76.34%
    99           76,335.30        500.62         222.64           277.98     76,057.33         76.06%
    100          76,057.33        500.62         221.83           278.79     75,778.54         75.78%
    101          75,778.54        500.62         221.02           279.60     75,498.93         75.50%
    102          75,498.93        500.62         220.21           280.42     75,218.51         75.22%
    103          75,218.51        500.62         219.39           281.24     74,937.28         74.94%
    104          74,937.28        500.62         218.57           282.06     74,655.22         74.66%
    105          74,655.22        500.62         217.74           282.88     74,372.34         74.37%
    106          74,372.34        500.62         216.92           283.70     74,088.64         74.09%
    107          74,088.64        500.62         216.09           284.53     73,804.11         73.80%
    108          73,804.11        500.62         215.26           285.36     73,518.74         73.52%
    109          73,518.74        500.62         214.43           286.19     73,232.55         73.23%
    110          73,232.55        500.62         213.59           287.03     72,945.52         72.95%
    111          72,945.52        500.62         212.76           287.87     72,657.66         72.66%
    112          72,657.66        500.62         211.92           288.71     72,368.95         72.37%
    113          72,368.95        500.62         211.08           289.55     72,079.40         72.08%
    114          72,079.40        500.62         210.23           290.39     71,789.01         71.79%
    115          71,789.01        500.62         209.38           291.24     71,497.77         71.50%
    116          71,497.77        500.62         208.54           292.09     71,205.68         71.21%
    117          71,205.68        500.62         207.68           292.94     70,912.74         70.91%
    118          70,912.74        500.62         206.83           293.79     70,618.95         70.62%
    119          70,618.95        500.62         205.97           294.65     70,324.30         70.32%
    120          70,324.30        500.62         205.11           295.51     70,028.79         70.03%
    121          70,028.79        500.62         204.25           296.37     69,732.41         69.73%
    122          69,732.41        500.62         203.39           297.24     69,435.18         69.44%
    123          69,435.18        500.62         202.52           298.10     69,137.07         69.14%
    124          69,137.07        500.62         201.65           298.97     68,838.10         68.84%




                                                  Page 7 of 11
Monthly Amortization Table                                                     www.excel-skills.co.uk

 Repayment     Opening          Loan        Interest                       Closing        % Capital
  Number       Balance       Repayment     Charged        Capital Repaid   Balance       Outstanding
    125          68,838.10        500.62         200.78           299.85     68,538.25         68.54%
    126          68,538.25        500.62         199.90           300.72     68,237.53         68.24%
    127          68,237.53        500.62         199.03           301.60     67,935.93         67.94%
    128          67,935.93        500.62         198.15           302.48     67,633.46         67.63%
    129          67,633.46        500.62         197.26           303.36     67,330.10         67.33%
    130          67,330.10        500.62         196.38           304.24     67,025.85         67.03%
    131          67,025.85        500.62         195.49           305.13     66,720.72         66.72%
    132          66,720.72        500.62         194.60           306.02     66,414.70         66.41%
    133          66,414.70        500.62         193.71           306.91     66,107.79         66.11%
    134          66,107.79        500.62         192.81           307.81     65,799.98         65.80%
    135          65,799.98        500.62         191.92           308.71     65,491.27         65.49%
    136          65,491.27        500.62         191.02           309.61     65,181.66         65.18%
    137          65,181.66        500.62         190.11           310.51     64,871.15         64.87%
    138          64,871.15        500.62         189.21           311.42     64,559.74         64.56%
    139          64,559.74        500.62         188.30           312.32     64,247.41         64.25%
    140          64,247.41        500.62         187.39           313.24     63,934.18         63.93%
    141          63,934.18        500.62         186.47           314.15     63,620.03         63.62%
    142          63,620.03        500.62         185.56           315.07     63,304.96         63.30%
    143          63,304.96        500.62         184.64           315.98     62,988.98         62.99%
    144          62,988.98        500.62         183.72           316.91     62,672.07         62.67%
    145          62,672.07        500.62         182.79           317.83     62,354.24         62.35%
    146          62,354.24        500.62         181.87           318.76     62,035.49         62.04%
    147          62,035.49        500.62         180.94           319.69     61,715.80         61.72%
    148          61,715.80        500.62         180.00           320.62     61,395.18         61.40%
    149          61,395.18        500.62         179.07           321.55     61,073.63         61.07%
    150          61,073.63        500.62         178.13           322.49     60,751.13         60.75%
    151          60,751.13        500.62         177.19           323.43     60,427.70         60.43%
    152          60,427.70        500.62         176.25           324.38     60,103.33         60.10%
    153          60,103.33        500.62         175.30           325.32     59,778.00         59.78%
    154          59,778.00        500.62         174.35           326.27     59,451.73         59.45%
    155          59,451.73        500.62         173.40           327.22     59,124.51         59.12%
    156          59,124.51        500.62         172.45           328.18     58,796.33         58.80%
    157          58,796.33        500.62         171.49           329.13     58,467.20         58.47%
    158          58,467.20        500.62         170.53           330.09     58,137.10         58.14%
    159          58,137.10        500.62         169.57           331.06     57,806.05         57.81%
    160          57,806.05        500.62         168.60           332.02     57,474.02         57.47%
    161          57,474.02        500.62         167.63           332.99     57,141.03         57.14%
    162          57,141.03        500.62         166.66           333.96     56,807.07         56.81%
    163          56,807.07        500.62         165.69           334.94     56,472.13         56.47%
    164          56,472.13        500.62         164.71           335.91     56,136.22         56.14%
    165          56,136.22        500.62         163.73           336.89     55,799.33         55.80%
    166          55,799.33        500.62         162.75           337.88     55,461.45         55.46%
    167          55,461.45        500.62         161.76           338.86     55,122.59         55.12%
    168          55,122.59        500.62         160.77           339.85     54,782.74         54.78%
    169          54,782.74        500.62         159.78           340.84     54,441.90         54.44%
    170          54,441.90        500.62         158.79           341.83     54,100.07         54.10%
    171          54,100.07        500.62         157.79           342.83     53,757.24         53.76%
    172          53,757.24        500.62         156.79           343.83     53,413.40         53.41%
    173          53,413.40        500.62         155.79           344.83     53,068.57         53.07%
    174          53,068.57        500.62         154.78           345.84     52,722.73         52.72%
    175          52,722.73        500.62         153.77           346.85     52,375.88         52.38%
    176          52,375.88        500.62         152.76           347.86     52,028.02         52.03%
    177          52,028.02        500.62         151.75           348.88     51,679.14         51.68%
    178          51,679.14        500.62         150.73           349.89     51,329.25         51.33%
    179          51,329.25        500.62         149.71           350.91     50,978.34         50.98%
    180          50,978.34        500.62         148.69           351.94     50,626.40         50.63%
    181          50,626.40        500.62         147.66           352.96     50,273.44         50.27%
    182          50,273.44        500.62         146.63           353.99     49,919.45         49.92%
    183          49,919.45        500.62         145.60           355.03     49,564.42         49.56%
    184          49,564.42        500.62         144.56           356.06     49,208.36         49.21%
    185          49,208.36        500.62         143.52           357.10     48,851.26         48.85%
    186          48,851.26        500.62         142.48           358.14     48,493.12         48.49%




                                                  Page 8 of 11
Monthly Amortization Table                                                     www.excel-skills.co.uk

 Repayment     Opening          Loan        Interest                       Closing        % Capital
  Number       Balance       Repayment     Charged        Capital Repaid   Balance       Outstanding
    187          48,493.12        500.62         141.44           359.19     48,133.94         48.13%
    188          48,133.94        500.62         140.39           360.23     47,773.70         47.77%
    189          47,773.70        500.62         139.34           361.28     47,412.42         47.41%
    190          47,412.42        500.62         138.29           362.34     47,050.08         47.05%
    191          47,050.08        500.62         137.23           363.39     46,686.69         46.69%
    192          46,686.69        500.62         136.17           364.45     46,322.23         46.32%
    193          46,322.23        500.62         135.11           365.52     45,956.72         45.96%
    194          45,956.72        500.62         134.04           366.58     45,590.13         45.59%
    195          45,590.13        500.62         132.97           367.65     45,222.48         45.22%
    196          45,222.48        500.62         131.90           368.72     44,853.76         44.85%
    197          44,853.76        500.62         130.82           369.80     44,483.96         44.48%
    198          44,483.96        500.62         129.74           370.88     44,113.08         44.11%
    199          44,113.08        500.62         128.66           371.96     43,741.12         43.74%
    200          43,741.12        500.62         127.58           373.05     43,368.07         43.37%
    201          43,368.07        500.62         126.49           374.13     42,993.94         42.99%
    202          42,993.94        500.62         125.40           375.22     42,618.71         42.62%
    203          42,618.71        500.62         124.30           376.32     42,242.39         42.24%
    204          42,242.39        500.62         123.21           377.42     41,864.98         41.86%
    205          41,864.98        500.62         122.11           378.52     41,486.46         41.49%
    206          41,486.46        500.62         121.00           379.62     41,106.84         41.11%
    207          41,106.84        500.62         119.89           380.73     40,726.11         40.73%
    208          40,726.11        500.62         118.78           381.84     40,344.27         40.34%
    209          40,344.27        500.62         117.67           382.95     39,961.32         39.96%
    210          39,961.32        500.62         116.55           384.07     39,577.25         39.58%
    211          39,577.25        500.62         115.43           385.19     39,192.06         39.19%
    212          39,192.06        500.62         114.31           386.31     38,805.75         38.81%
    213          38,805.75        500.62         113.18           387.44     38,418.31         38.42%
    214          38,418.31        500.62         112.05           388.57     38,029.74         38.03%
    215          38,029.74        500.62         110.92           389.70     37,640.03         37.64%
    216          37,640.03        500.62         109.78           390.84     37,249.19         37.25%
    217          37,249.19        500.62         108.64           391.98     36,857.21         36.86%
    218          36,857.21        500.62         107.50           393.12     36,464.09         36.46%
    219          36,464.09        500.62         106.35           394.27     36,069.82         36.07%
    220          36,069.82        500.62         105.20           395.42     35,674.40         35.67%
    221          35,674.40        500.62         104.05           396.57     35,277.82         35.28%
    222          35,277.82        500.62         102.89           397.73     34,880.09         34.88%
    223          34,880.09        500.62         101.73           398.89     34,481.21         34.48%
    224          34,481.21        500.62         100.57           400.05     34,081.15         34.08%
    225          34,081.15        500.62          99.40           401.22     33,679.93         33.68%
    226          33,679.93        500.62          98.23           402.39     33,277.54         33.28%
    227          33,277.54        500.62          97.06           403.56     32,873.98         32.87%
    228          32,873.98        500.62          95.88           404.74     32,469.24         32.47%
    229          32,469.24        500.62          94.70           405.92     32,063.31         32.06%
    230          32,063.31        500.62          93.52           407.11     31,656.21         31.66%
    231          31,656.21        500.62          92.33           408.29     31,247.92         31.25%
    232          31,247.92        500.62          91.14           409.48     30,838.43         30.84%
    233          30,838.43        500.62          89.95           410.68     30,427.75         30.43%
    234          30,427.75        500.62          88.75           411.88     30,015.88         30.02%
    235          30,015.88        500.62          87.55           413.08     29,602.80         29.60%
    236          29,602.80        500.62          86.34           414.28     29,188.52         29.19%
    237          29,188.52        500.62          85.13           415.49     28,773.03         28.77%
    238          28,773.03        500.62          83.92           416.70     28,356.33         28.36%
    239          28,356.33        500.62          82.71           417.92     27,938.41         27.94%
    240          27,938.41        500.62          81.49           419.14     27,519.27         27.52%
    241          27,519.27        500.62          80.26           420.36     27,098.91         27.10%
    242          27,098.91        500.62          79.04           421.59     26,677.33         26.68%
    243          26,677.33        500.62          77.81           422.81     26,254.51         26.25%
    244          26,254.51        500.62          76.58           424.05     25,830.46         25.83%
    245          25,830.46        500.62          75.34           425.28     25,405.18         25.41%
    246          25,405.18        500.62          74.10           426.53     24,978.66         24.98%
    247          24,978.66        500.62          72.85           427.77     24,550.89         24.55%
    248          24,550.89        500.62          71.61           429.02     24,121.87         24.12%




                                                  Page 9 of 11
Monthly Amortization Table                                                     www.excel-skills.co.uk

 Repayment     Opening          Loan        Interest                       Closing        % Capital
  Number       Balance       Repayment     Charged        Capital Repaid   Balance       Outstanding
    249          24,121.87        500.62          70.36           430.27     23,691.60         23.69%
    250          23,691.60        500.62          69.10           431.52     23,260.08         23.26%
    251          23,260.08        500.62          67.84           432.78     22,827.30         22.83%
    252          22,827.30        500.62          66.58           434.04     22,393.25         22.39%
    253          22,393.25        500.62          65.31           435.31     21,957.94         21.96%
    254          21,957.94        500.62          64.04           436.58     21,521.36         21.52%
    255          21,521.36        500.62          62.77           437.85     21,083.51         21.08%
    256          21,083.51        500.62          61.49           439.13     20,644.38         20.64%
    257          20,644.38        500.62          60.21           440.41     20,203.97         20.20%
    258          20,203.97        500.62          58.93           441.70     19,762.27         19.76%
    259          19,762.27        500.62          57.64           442.98     19,319.29         19.32%
    260          19,319.29        500.62          56.35           444.28     18,875.01         18.88%
    261          18,875.01        500.62          55.05           445.57     18,429.44         18.43%
    262          18,429.44        500.62          53.75           446.87     17,982.57         17.98%
    263          17,982.57        500.62          52.45           448.17     17,534.40         17.53%
    264          17,534.40        500.62          51.14           449.48     17,084.92         17.08%
    265          17,084.92        500.62          49.83           450.79     16,634.12         16.63%
    266          16,634.12        500.62          48.52           452.11     16,182.02         16.18%
    267          16,182.02        500.62          47.20           453.43     15,728.59         15.73%
    268          15,728.59        500.62          45.88           454.75     15,273.84         15.27%
    269          15,273.84        500.62          44.55           456.07     14,817.77         14.82%
    270          14,817.77        500.62          43.22           457.41     14,360.36         14.36%
    271          14,360.36        500.62          41.88           458.74     13,901.62         13.90%
    272          13,901.62        500.62          40.55           460.08     13,441.55         13.44%
    273          13,441.55        500.62          39.20           461.42     12,980.13         12.98%
    274          12,980.13        500.62          37.86           462.76     12,517.36         12.52%
    275          12,517.36        500.62          36.51           464.11     12,053.25         12.05%
    276          12,053.25        500.62          35.16           465.47     11,587.78         11.59%
    277          11,587.78        500.62          33.80           466.83     11,120.95         11.12%
    278          11,120.95        500.62          32.44           468.19     10,652.77         10.65%
    279          10,652.77        500.62          31.07           469.55     10,183.21         10.18%
    280          10,183.21        500.62          29.70           470.92      9,712.29          9.71%
    281           9,712.29        500.62          28.33           472.30      9,239.99          9.24%
    282           9,239.99        500.62          26.95           473.67      8,766.32          8.77%
    283           8,766.32        500.62          25.57           475.06      8,291.26          8.29%
    284           8,291.26        500.62          24.18           476.44      7,814.82          7.81%
    285           7,814.82        500.62          22.79           477.83      7,336.99          7.34%
    286           7,336.99        500.62          21.40           479.22      6,857.77          6.86%
    287           6,857.77        500.62          20.00           480.62      6,377.15          6.38%
    288           6,377.15        500.62          18.60           482.02      5,895.12          5.90%
    289           5,895.12        500.62          17.19           483.43      5,411.69          5.41%
    290           5,411.69        500.62          15.78           484.84      4,926.86          4.93%
    291           4,926.86        500.62          14.37           486.25      4,440.60          4.44%
    292           4,440.60        500.62          12.95           487.67      3,952.93          3.95%
    293           3,952.93        500.62          11.53           489.09      3,463.84          3.46%
    294           3,463.84        500.62          10.10           490.52      2,973.32          2.97%
    295           2,973.32        500.62           8.67           491.95      2,481.36          2.48%
    296           2,481.36        500.62           7.24           493.39      1,987.98          1.99%
    297           1,987.98        500.62           5.80           494.83      1,493.15          1.49%
    298           1,493.15        500.62           4.36           496.27        996.88          1.00%
    299             996.88        500.62           2.91           497.72        499.17          0.50%
    300             499.17        500.62           1.46           499.17           -            0.00%
    301                -             -              -                -             -            0.00%
    302                -             -              -                -             -            0.00%
    303                -             -              -                -             -            0.00%
    304                -             -              -                -             -            0.00%
    305                -             -              -                -             -            0.00%
    306                -             -              -                -             -            0.00%
    307                -             -              -                -             -            0.00%
    308                -             -              -                -             -            0.00%
    309                -             -              -                -             -            0.00%
    310                -             -              -                -             -            0.00%




                                                  Page 10 of 11
Monthly Amortization Table                                                   www.excel-skills.co.uk

 Repayment     Opening          Loan      Interest                       Closing        % Capital
  Number       Balance       Repayment   Charged        Capital Repaid   Balance       Outstanding
    311                  -           -            -                -               -          0.00%
    312                  -           -            -                -               -          0.00%
    313                  -           -            -                -               -          0.00%
    314                  -           -            -                -               -          0.00%
    315                  -           -            -                -               -          0.00%
    316                  -           -            -                -               -          0.00%
    317                  -           -            -                -               -          0.00%
    318                  -           -            -                -               -          0.00%
    319                  -           -            -                -               -          0.00%
    320                  -           -            -                -               -          0.00%
    321                  -           -            -                -               -          0.00%
    322                  -           -            -                -               -          0.00%
    323                  -           -            -                -               -          0.00%
    324                  -           -            -                -               -          0.00%
    325                  -           -            -                -               -          0.00%
    326                  -           -            -                -               -          0.00%
    327                  -           -            -                -               -          0.00%
    328                  -           -            -                -               -          0.00%
    329                  -           -            -                -               -          0.00%
    330                  -           -            -                -               -          0.00%
    331                  -           -            -                -               -          0.00%
    332                  -           -            -                -               -          0.00%
    333                  -           -            -                -               -          0.00%
    334                  -           -            -                -               -          0.00%
    335                  -           -            -                -               -          0.00%
    336                  -           -            -                -               -          0.00%
    337                  -           -            -                -               -          0.00%
    338                  -           -            -                -               -          0.00%
    339                  -           -            -                -               -          0.00%
    340                  -           -            -                -               -          0.00%
    341                  -           -            -                -               -          0.00%
    342                  -           -            -                -               -          0.00%
    343                  -           -            -                -               -          0.00%
    344                  -           -            -                -               -          0.00%
    345                  -           -            -                -               -          0.00%
    346                  -           -            -                -               -          0.00%
    347                  -           -            -                -               -          0.00%
    348                  -           -            -                -               -          0.00%
    349                  -           -            -                -               -          0.00%
    350                  -           -            -                -               -          0.00%
    351                  -           -            -                -               -          0.00%
    352                  -           -            -                -               -          0.00%
    353                  -           -            -                -               -          0.00%
    354                  -           -            -                -               -          0.00%
    355                  -           -            -                -               -          0.00%
    356                  -           -            -                -               -          0.00%
    357                  -           -            -                -               -          0.00%
    358                  -           -            -                -               -          0.00%
    359                  -           -            -                -               -          0.00%
    360                  -           -            -                -               -          0.00%
                                            50,187.07




                                                Page 11 of 11

				
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