All calculators are downloadable Excel spreadsheets that allow you to save and amend your own personal data.With this spreadsheet, enter your personal data in the purple coloured cells.

Squirrel Launchpad home loan calculator

I have made a calculator for the Launchpad home loan product. You just need to enter a few details in the purple cells with green font and you will see a bunch of details including:

  • Your annual loan payments

  • Your level of housing equity

  • Your net worth gains

  • How much you are better (or worse off) with the decision to go with the product.

Not only can you see the results for the Squirrel loan, but you can also compare the results to the alternative of saving up for a 20% deposit on your own. You can even see the year at which you go from being better off to worse off, or vice versa, so you know when may be a good time to switch to a mainstream bank. Just note that if you intend to leave Squirrel within five years, you are likely to be subject to be liable for break fees on the Squirrel equity loan. The calculator doesn’t include break fees so do make sure to consider that as a separate factor when weighing up your decision.

It’s a comprehensive comparison calculator between buying with Squirrel and waiting to buy on your own.

Have a play around with different assumptions around house price increases, mortgage rates, and deposit rates and see the impact of changes made and how comfortable you are with the results. Any year where you are better off with the Squirrel Launchpad loan will show up as a brown highlighted row on the sheet.

For the rental spend (if you don’t buy now), it is assumed to increase annually with inflation. If you don’t buy a house, it is assumed that your mortgage term for when you do buy is the same length as what remains on the Squirrel loan for a like for like comparison.

For personalised advice on deciding whether or not co ownership should be part of your financial plan, then get in touch for a no obligations chat to see how we may be able to add value for you.

For more information on the Squirrel Launchpad home loan product have a read of my article here, or from the Squirrel website here.

For more calculators, click here

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