How are season ticket loans considered for mortgage apps?

Gentoo365

I am comparing the costs of living in London vs Living outside London and commuting.

If I commuted the season ticket would be about £4.5k per year, and I would be able to get an interest free loan from my employer to ensure I can get the cheaper annual rate. I am unsure whether this loan would appear on a credit search, I am guessing it would as although it is arranged via my employer it is not a deduction from pay, but a loan paid by direct debit, requiring normal checks (I have to ring the benefits provider).

Problem is that most mortgage applications ask about travel costs separately, so I don't want this outgoing to be deducted twice. It makes more 'sense' for it to be considered 'transport costs', however I also would not want them to think I had a 4.5k loan I failed to mention.

Thrugelmir

Personally I would leave it out of transport costs. Declare it as a loan committment (with suitable explanation) then there's no possibility of doubling counting.

jamesml

If you have rung the benefits provider already, why don't you ask them for the T&C's - I would have thought this should make it clearer.

I often see companies offering loans which are just repaid with deductions from pay, and as such I wouldn't expect this to come up on a credit check - however if its being provided through a benefits provider then it may be that the company are just securing the loan for you and covering the interest. If you need to sign a credit agreement that should make it pretty clear cut as to which way it goes...

Moby_Tide

I went through an application last week and declared it as a travel cost/commitment but didn't need to declare it as a loan. Admittedly my conversation was with a human at the bank so they could rationalise where a computer based decision/application may not