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Will childcare vouchers affect my mortgage amount

(4 Posts)
ihavetogoshoppingnow Fri 12-Jan-18 10:33:08

I’m due to go back to work next month and was planning to do the salary sacrifice for childcare vouchers out of my wages. However my mortgage is up for renewal in April and I’m wondering if having the money come out of my pay rather than being a bill will affect the amount we can get? Do they view it still as a bill even though its coming of my wages or would it reduce my ‘salary’? Would I be better to wait to get the childcare vouchers till after my mortgage goes through? Hope that makes sense TIA

No1blueengine Fri 12-Jan-18 10:49:30

The amount of childcare you pay will affect your affordability figure but how you pay it, whether with childcare vouchers or otherwise should have any affect.

They will be looking at your gross and net salary and your outgoings. Childcare is an outgoing. How you pay it is irrelevant to the equation.

Thatsnotmycat Fri 12-Jan-18 22:00:06

The childcare voucher scheme is about to change so it may be worth registering and sacrificing a small amount in order to benefit from the existing scheme? Saying that the new scheme might work out better depending on how much you earn.. I would look in to the scheme and see which one would benefit you most and work from there.

MortgageTips Sat 13-Jan-18 17:22:14

Not all lenders treat child care costs as a deduction for Affordability.

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