Salary sacrifice calculator

kinger101

Grumpy_chap said:

Will @MortagageWannabe be impacted in future house purchase if that is still an aspiration for them and they used SS?  You would like to think that most lenders are competent enough to understand and take fair account of SS in determining lending limits but it does also affect affordability as that finance SS into pension is not available to meet current costs.  The OP may no longer want to get a mortgage, or may already have that resolved, but it is a consideration.  Most SS schemes can only be opted in / out once a year.

Some employers allow you to change SS as often as you like, though I think this is something of a grey area.  They should always allow on the basis of a lifestyle event.

Good point re. the mortgage lender.  Always worth checking how lenders will treat SS before making an application.  I think some are happy provided the SS agreement can be terminated.  

MallyGirl

I can change my SS as often as I like - it is all online. I had no issues remortgaging with Santander at the end of last year despite Sal sac of well over half of my salary.

MortagageWannabe

In case anyone comes across this thread, I opted for the salary sacrifice option due to its simplicity. Relief at source may have “yielded ”a larger sum towards my pension pot however it would have required more effort to reclaim the extra 20% relief from HMRC.