Londoners most indebted, says survey

Residents in Britain’s capital are amongst the most indebted in the country, a survey as found.

Lender MyCallcredit has that London appeared multiple times in its top 20 of the most indebted areas in the UK.

East Londoners topped the list, and were followed closely people in Uxbridge and South East London.

Other entries in the top 20 from the capital included North London, North West London and Croydon.

Large cities such as Birmingham and Liverpool were also rated as some of the country’s hotspots for indebted consumers.

“From a lender’s point of view this information helps them identify those customers who are more prone to financial difficulty based on their location,” said Alison Nicholson, MyCallcredit director.

“They can then add this to the information they already know and that being shared among lenders to make responsible lending decisions.”

The firm also published a list of the top 20 cities for debt free citizens, with Dorchester, Salisbury and South West towns such as Bath and Bristol making strong appearances.

Indebtedness was rated by a number of measures, including falling behind on homeowner loan and credit payments, outstanding credit balances and the relation between overall debt and income.

© Adfero Ltd

Leave a Reply

Your email address will not be published. Required fields are marked *