Mortgage Brain goes all-electric with salary sacrifice scheme

Mortgage Brain has introduced an electric vehicle (EV) salary sacrifice scheme for its employees, partnering with Fleet Alliance to support its shift towards more sustainable mobility.

The Worcestershire-based mortgage technology provider, which employs around 100 staff across offices in Bromsgrove, London, Croydon and Ipswich, has replaced its previous mileage allowance system with the new EV-focused benefit.

The scheme gives employees access to a wide range of electric vehicles, both new and used, with models from brands including BYD, Tesla, Porsche, Hyundai and BMW already selected by staff.

Chief financial officer Alastair Brown said the initiative has been well received since launch. “We are running at about 10% take-up but expect that to go to 20% quite quickly. And we have been nothing but impressed since engaging Fleet Alliance to provide a salary sacrifice EV benefit to our employees for the first time,” he said.

“From helping me understand the tax implications, configuring the set up and creating all launch communications and a launch event, they have supported us in being able to offer a very valuable benefit that everyone can access.”

Brown added that he has personally taken advantage of the scheme. “With the help of Fleet Alliance, we now have a new Hyundai Ioniq 5 that all of the family love. So much more space, a fun drive and we even managed to put our personal registration on it, too,” he said.

“To cope with home charging, we have now installed the Pod Point charger through the scheme so are benefitting from big savings on all of our driving.”

He also noted that the company’s chief executive has opted for a Porsche Taycan through the scheme, highlighting the broader appeal of the offering.

Employees have been supported through the transition with presentations from Fleet Alliance account managers, explaining the low Benefit-in-Kind tax rates associated with zero-emission vehicles. The scheme also includes early termination insurance within the monthly lease cost, providing additional reassurance.

Vehicles are managed via Fleet Alliance’s cloud-based e-Fleet platform, which allows users to research, compare and order vehicles, while also tracking mileage, servicing and overall costs. The system enables employees to view the financial impact of their choices in real time, helping them make informed decisions.

Brown said the flexibility of the scheme has been key to its success. “We have also been able to flex the scheme to allow used EVs which is great for commission-based employees who, because of National Living Wage restrictions, might not have been able to participate otherwise,” he said.

“Our scheme is a great way to offer an electric car at no extra cost to businesses of all sizes, from the largest corporation to the smallest SME. It’s the perfect way of introducing a corporate car scheme for the first time,” he said.

“From an environmental perspective, it encourages staff to make the transition to electric cars and helps reduce the corporate carbon footprint while assisting the business in meeting its ESG agenda.”

The move reflects a growing trend among UK businesses to adopt salary sacrifice schemes as a way of supporting employees while advancing sustainability goals, with EV uptake increasingly driven by both cost efficiencies and environmental considerations.