Company Car/Cash for car/Buy/Lease? What best for mortgage?

[Golaboots]

Hi

I'm looking to move to a lager house and will probably require a larger mortgage.
What would be the best tactic with financing a car to maximise what lenders would be willing to lend.

1, Company car. Fixed cost.
2, Cash for car. Buy a used car outright, smaller deposit but higher effective sallary.
3, Cash for car. Either lease or buy on finance. Higher effective wage but regular outgoings to offset it.

I've no idea with this kind of thing. Its approximately £450/month allowance, and would need to be circa £10k to purchase a car that fits the policy.

Thanks in advance.

[Eric Mc]

What has buying a car got to do with taking out a mortgage?

[Golaboots]

If I buy a car outright I would have a smaller deposit whilst conversely buying on finance or a lease means a larger deposit but smaller effective income.

There must be a preferred stance from lenders.

[Eric Mc]

What about a preferred stance for you?

Why not go for a second hand car at the moment and keep your resources for the house purchase.

[northandy]

The general rule wouod be that finance for a car would be knocked off your salary for multiple purposes. So a £300 a month loan woud knock £3,600 off your salary before the multiple, i assume they would count your allowance as salary.

[Golaboots]

It would be a second hand car if I buy outright, but this would decrease my deposit.

I don't know if the extra £4.5k ish per annum of salary would offset a circa £10k smaller deposit.

[Sarnie]

You need to give us all the figures.

Impossible otherwise.

[northandy]

Like sarnie said the key will be does the smaller deposit put you in a different LTV band and therefore different interest rate. When i last looked there was quite a difference between rates offered on a 75% ltv mortgage and a 65% ltv mortgage.

[Sarnie]

We need to know;

Propsepective property value
Current deposit
Current salaries