Full Status Mortgage
Gross debt service ratio is the measure by which lender defines the ability of the borrower to pay for their mortgage debt.
This is the total mortgage debt service expressed as a percentage of the borrower's income.
This ratio is calculated by dividing the total of Principal, Interest, Taxes
and a Heating component into the Borrowers total income. Most lenders will
allow up to 32% of gross income to be used.
Click for more mortgage glossary terms relating to remortgaging.