andieje
asked on
early loan resettlement formula
Hello
Please could you point me in the direction of a formula for calculating early loan resettlemen in the uk. I can see there are regulations from 2004 but I can't find a formula. I have read of an actuarial method if that helps
Thanks
Please could you point me in the direction of a formula for calculating early loan resettlemen in the uk. I can see there are regulations from 2004 but I can't find a formula. I have read of an actuarial method if that helps
Thanks
ASKER
Hi. I need the formula not the calculator. I should have said it is for fixed rate loan so the mortgage spreadsheet doesn't apply. Thanks
ASKER CERTIFIED SOLUTION
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Here is an "Any Loan" calculator http://www.financecalcs.co.uk/Calcs/Settlement.php
If you need the raw formulas try here http://www.excelworks.co.uk/default.aspx?page=30100
Download the Excel Spreadsheets - the formulas should be easy to figure out