Gingernuts
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Hello, I'm not sure if this thread belongs in this section but wasn't sure where else to put it.
I currently run my own vehicle for work. Recently my employer has decided to move away from paying the civil service rates, offering a lower flat rate instead. Therefore going back into a company car looks somewhat more attractive than previously, and there are now EV with better ranges etc. If I take the company car, I lose my car allowance so my gross salary would be reduced by 12k, plus I would no longer have mileage expenses being paid to me, and I would pay BIK of approx 110(220notional)per month(I know that the BIK on EVs will change over the coming years)
My question is this: I am in the middle of a divorce and I will possibly have to apply for a mortgage in my own name next year. From the perspective of applying for a mortgage, would the banks look more favourably on a person having a company car rather than their own car? My gross salary would reduce as a result of having no car allowance but my outgoings would reduce as I would no longer have any car costs or PCP liability.
From a divorce perspective, is it better to lose the car allowance and mileage expenses anyway? It makes things a little complicated and the other side like to suggest that it hugely increases my income and use it as one of the many sticks to beat me with.
I currently run my own vehicle for work. Recently my employer has decided to move away from paying the civil service rates, offering a lower flat rate instead. Therefore going back into a company car looks somewhat more attractive than previously, and there are now EV with better ranges etc. If I take the company car, I lose my car allowance so my gross salary would be reduced by 12k, plus I would no longer have mileage expenses being paid to me, and I would pay BIK of approx 110(220notional)per month(I know that the BIK on EVs will change over the coming years)
My question is this: I am in the middle of a divorce and I will possibly have to apply for a mortgage in my own name next year. From the perspective of applying for a mortgage, would the banks look more favourably on a person having a company car rather than their own car? My gross salary would reduce as a result of having no car allowance but my outgoings would reduce as I would no longer have any car costs or PCP liability.
From a divorce perspective, is it better to lose the car allowance and mileage expenses anyway? It makes things a little complicated and the other side like to suggest that it hugely increases my income and use it as one of the many sticks to beat me with.