Homes & Gardens

How the Debt-to-income Ratio for a Mortgage Works

You might be wondering, "Can you get a mortgage with debt?" Banks use something called the Debt-to-Income Ratio to decide if you can borrow for a house. This blog will show you how to calculate debt to income ratios and what numbers lenders want to see.

Stick around, because getting your dream home may depend on it!

Key Takeaways

  • Banks use the Debt-to-Income (DTI) Ratio to decide if you can get a mortgage. It compares your debts to your income.
  • There are two types of DTI: Front-End focuses on housing costs, Back-End includes all debts. Lenders
    • ...
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Liv Butler

Liv Butler

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Exeter council invests in a brighter future

Fourteen families have moved into new ecologically friendly, high tech homes built by Exeter City Council as part of a project to make the most of underused spaces in the city and create affordable housing for local people.

Silverberry Close and Barberry Close provide a total of 14 new three-bedroom properties, including two fully wheelchair accessible homes.

These rented houses are now providing comfortable living space for families who were waiting for a suitable place to live on Exeter’s Housing Register.

The buildings are designed to be as ecological, low energy...

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New interior design service in Sidmouth

A new interior design service for homeowners has opened in Sidmouth town centre.

Sarah Yates, an interior designer with 25 years’ experience, has recently relocated her interior design business to Sidmouth and set up a showroom in Potburys on the High Street.

Sarah Yates Interiors provides services ranging from complete interior design projects and home styling solutions to bespoke window dressings and furniture re-upholstering.

Sarah comments: “It’s great to be back in Sidmouth - the town where I grew up and where my family are still based. Having established the...

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Waterside homes selling faster than urban

Authored by jacobseal
Posted: Thu, 07/16/2015 - 11:04am

It’s all in the view. Luscombe Maye Estate Agency reveals that South West waterside properties are continuing to dominate the region’s property market, selling on average up to one month faster than those in urban or inland locations, according to its sales data from the past year.

Experts at Luscombe Maye state that both quantity and quality of a sea view play a vital part in the lure of South West waterside properties, potentially adding between £50,000 and £200,000 to a property’s value.

Direct beach access, picture windows, private balconies and patios are just some of...

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Be BBQ safe this summer!

Authored by Marc Astley
Posted: Thu, 07/16/2015 - 7:44am

Devon & Somerset Fire & Rescue Service wants your BBQ and cricket celebrations to be a safe and enjoyable experience, but cooking over hot coals can be hazardous. Marc House, Community Safety Prevention Manager said: “It’s natural to want to go outdoors and enjoy the warmer weather with family and friends, especially with the Cricket on - many of us can’t wait to get the BBQ lit. We all know how tempting it can be to give stubborn coals a helping hand, but, please be patient and make sure you use the right tools for the job. “By far the biggest danger is the use of flammable...

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Landlords offered licensing discount

Authored by jacobseal
Posted: Wed, 07/15/2015 - 12:06pm

Landlords of Houses of Multiple Occupation (HMOs) are being offered £125 discounts for a licensing their properties if they sign up to an accreditation scheme.

The incentive comes as Exeter City Council and the University of Exeter actively attempt to drive up the standards of properties in the city for tenants.

Both the University of Exeter and the Students’ Guild are committed to promoting the AfS/Unipol Accreditation Scheme within the private sector housing market in Exeter.

The University of Exeter is working with AfS/Unipol to ensure that landlords are made...

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Cranbrook homes to trial smart home heating

The Department of Energy & Climate Change (DECC) has awarded a £598,860 grant to PassivSystems to develop a new heating platform with WSP | Parsons Brinckerhoff that will lead to a reduction in energy demand, heat network operating costs and, ultimately, cut consumer heating bills.

The PassivSystems-designed smart home heating platform will be field tested in association with E.ON.

The new technology will introduce a direct digital link between homes and the energy centres that supply them with heat. This will be done through an in-home hub that collects data on heat...

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Cranbrook in top 60 developments

Cranbrook, East Devon’s new community has been named one of the Top 60 Developments for 2015 by Inside Housing magazine.

Cranbrook has been shortlisted in the ‘Affordable Housing Development of the Year’ category, and will now compete with five other developments to try to win over the judges and become category winner.

The Top 60 Developments celebrate success and innovation in delivering new homes. The list highlights achievement in ten key areas, from design to sustainability. In each area, the best development will be chosen and awarded a winner’s trophy.

The...

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New guide for landlords and letting agents aims to improve standards for tenants

Local landlords and letting agents are being offered a free good practice guide in an attempt to drive up standards in Exeter.

The initiative is being launched by Exeter City Council in partnership with the newly formed Exeter Private Rental Forum.

The guide is aimed at helping landlords and agents understand their rights and responsibilities. It is hoped this will result in an improved service for tenants.

“We know there are landlords in the city who share our aim of driving up the quality and standard of private rented housing," said Cllr Heather Morris, Lead...

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Trials for improved recycling service

An improved recycling collection service is to be trialled in two East Devon areas this autumn following approval from the district council’s Cabinet.

Around 1,800 households in the Feniton and Exmouth (The Colony) areas will be able to recycle more during the trial as the council is adding cardboard and mixed plastics to the extensive number of items it already collects from the kerbside each week.

Every household in the trial areas will receive an additional 70 litre reusable sack which they can use for their recyclables along with their usual green recycling box. The...

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Landlords struggle with new laws

Two in five (41%) landlords in the South West admit that they struggle to keep up with changes in law relating to letting property a week before a new deadline that could leave them with heavy fines for missing.

There are already over 50 Acts of Parliament and more than 70 sets of regulations that govern the private-rented sector (PRS).

The new deadline – 23rd June – imposed as part of the Deregulation Act, affects landlords and agents in England and Wales who still hold a deposit on a tenancy that began before 6 April 2007 – when Tenancy Deposit Protection (TDP) laws were...

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