How to use our Mortgage Budgeting Kit

If you are unsure how to get started with our Mortgage Budgeting Kit, follow our 'how to use' guide below.

Mortgage Budgeting

Step 1. Download the Mortgage Budgeting Kit to your device

Please select below, based on your preferred use, the Mortgage Budgeting file that will open on your device.

Download: Mortgage Budgeting

(Microsoft Office)

Download: Mortgage Budgeting

(Apple Numbers - Mac or iOS)

Note: For the best experience, we recommend using the correct file for your software as other apps may not work as intended. Please remember also to make sure that your software is up to date (Excel 2010 or later. Numbers version 4.2 or later).

Mortgage Budgeting - Download

Step 2. Open the file

On PC or Mac

Once downloaded using your web browser, the Mortgage Budgeting sheet will automatically save in the downloads folder, or you might be asked to save it in a particular folder on your computer.

When it is ready, find the file either in the downloads folder or the location where you saved the budgeting spreadsheet, then open it.

On iOS

When downloading on an Apple device using iOS, an option will appear to import the file into Numbers, if available, and will open the app automatically. If you do not have the Numbers App on your device, it is available to download from the App Store for free or as a purchase (subject to the model of the device).

Note: The latest version of Numbers may not be available depending the iOS software version or the age of your Apple device. Your device will need to be on iOS 10 or above to be able to download Numbers directly from the App Store.

Mortgage Budgeting - Open

Step 3. Filling in income, expenses and mortgage calculator

Upon opening, the Mortgage Budgeting sheet has three sections to fill in - payments in, payments outs and mortgage calculator.

Payments In

Start by entering in the values for your income - there is an entry box for gross salary, and for other income if this applies. With two buyers, please fill in both buyer one and buyer two selections.

Next, select the tax rate and social security rate based on your circumstances. Alternative to a percentage social security rate, you can set the maximum amount of contribution by using the second social security rate option for max amount (set at £250.80 per month as of September 2017 - Source

Once filled in, a total for buyer one and buyer two will be combined in the monthly income amount, marked in green.

Payments Out

Using the different categories, enter in the values for your expenses from bills to savings, personal treats to charity donations.

There are also are three drop menus to choose from more possibilities - including gym memberships and beer drinking budget. There is also an 'others' field that you can use as a round up of all other expenses, or you can re-title this for your own needs.

Once filled in, a total for expenses will be combined in the monthly expense amount, marked in red.

Mortgage Calculator

Under the title details, the balance before mortgage repayment will automatically be in the amounts column based on your monthly income minus your monthly expense.

Then proceed to fill in a property price and an amount for the deposit. This will then work out the mortgage loan amount required and the loan-to-value percentage.

Based on the loan-to-value, you can research yourself or speak to a mortgage leaner about a potential interest rate. After entering in the interest rate, remember to factor in the number of years for the mortgage and add this into the loan duration cell.

When all these details have been entered, the monthly mortgage repayment with appear and at the very bottom of the sheet your available monthly balance after repayment will be displayed

Mortgage Budgeting - Expenses

Step 4. Experiment and review

By changing different parts of your budget, you can experiment to work out how best to achieve your ideal purchase. Change the property price to compare different buying opportunities, plan a way to save more money or compare rates from different leaners to see what works for you.

The Mortgage Budgeting sheet can be printed out or saved to take with you for a consultation, either filled in beforehand or as part of a meeting with a lender to work out the possibilities.

Create multiple budgeting sheets to compare different properties and options with the aim to find about what financial scenario works best for you.

Mortgage Calculator


Note: All the information provided on this guide was accurate as of 18 September 2017.

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