Train fares

Sofee3

Hi, I am planning ahead here, just wondering what way is better according to mortgage lenders/ or what way doesn't take as much off your monthly outgoings:

1. Taking a season ticket loan and train fare coming out your salary after tax (at a cheaper monthly price)

2. Paying for it monthly at more a month out your salary

Thanks

[Deleted User]

For most it doesn't make a difference.  They will factor in travel costs to affordability calculations using ONS data and usually ask for basic location info on the affordability calculation to change these figures (the average outgoings will be higher in london than in the middle of scotland for instance).   If they see a season ticket on your salary most will ignore it, if they see train fares on your payslips most will ignore it.    Too slow and expensive to have a lender assess each application to the nth degree.  They make a heck of a lot of assumptions to speed it up

The only lenders that will go to small detail are the lenders who dont do volume business. So adverse lenders tend to scrutinise actual expenditure rather than ONS data.  Same as small regional building societies.
If you are on the high street or with a prime lender then they wont care about your travel costs.  

Sofee3

Amazing thanks for your reply 

Thrugelmir

Choose the option that's best for your pocket.