How does Company car vs Car allowance affect mortgage lending

Golaboors

I've got to choose between a company car or a cash for car scheme.
I'm also looking to move to a larger house in the near future.

Taking a car allowance would mean spending £10k of deposit on a car but having a higher perceived income of around £4.5k per annum.

Taking the company car would leave me with a larger deposit but smaller income.

I've tried various calculators out there but the only one with enough detail to test it was Nationwide's one. On there they lend more to the higher income, which is somewhat negated by the need to borrow an extra £10k.

Thanks

Dave_Ham

Will require more information to test which is better definitively.

What purchase price would you be looking at?
What deposit will you have

What is your income.

If income is tight, the car allowance will give you maximum additional £23k in borrowing.

Not all lenders will accept this at 100% either, worth noting

Your deposit may push you across a loan to value banding and therefore be much more costly, over the period of the fixed term...

My gut says take the car and keep the deposit.

Just to throw a spanner, you could take the cash and lease a car !!

Golaboors

Thanks for the reply.
The leasing option seemed to work worst of all options (buying outright, leasing and company car)

Rough numbers are likely to be £330k ish purchase, £100k deposit/equity (£90 if buying a car), two incomes of £36k and £31k on company car scheme. On cash for car scheme first sallary is elevated to £40k.

What do you reckon?