Debt to Income Ratio in United Kingdom

Debt to income ratio in the Context of Mortgages

A ratio used by lending institutions to determine whether a person is qualified for a mortgage. Debt-to-income is the total amount of debt, including credit cards and other loans, divided by total gross monthly income.

Similar Terms

Gross income

Gross income

Your total income before tax and expenditures.

Income multipliers or multiples

Income multipliers or multiples

The size of the mortgage that lenders offer, will often be worked out by multiplying your income each year by a set percentage.

Joint income

Joint income

The total gross income of the mortgage applicants.