Mortgage application - pension and company car

Tylan

If anyone could help me out that would be really fantastic.

I am looking to buy my first house and wanted to know to what extent lenders take pension and company car into account?

I earn 35,000 plus company car and petrol allowance worth approx 8,000 benefit in kind according to HMRC. My company also has brilliant final salary pension scheme but it costs me about 10% salary sacrifice.

Can I count the 8,000 as salary ( as I obviously get taxed on it). Also will I be penalised for pension? Any mortgage providers better for this?

betmunch

You cant count a benefit in kind as income, if you get a car allowance then some lenders may take this into account.

Some lenders will penalise you for the pension contribution, some wont. Depends on the lender.

Take advice from your broker as to which lender will lend what you need.

ACG

Im just adding a comment to echo the above.

If you use a brokerthey will/should steer your application in the right direction, if you do it yourself run it by the lender (and take names/dates/times of the calls) to ensure your entering it how they want it entered.