You are here: Home - Credit Cards & Loans -

Capital debt

Written by:

Londoners are the most indebted people in the country, according to a new report. Mike Collins fishes for a few coins

London is the most indebted area of the UK, while those in the South West enjoy the least debt burden of anywhere across the country, according to research from credit monitoring service MyCallcredit.

The research, which looked at key indebtedness indicators at a regional and a town level, revealed that the residents of East London and Uxbridge are the most indebted in the UK. At the other end of the scale, people who live in Dorchester and Salisbury are the least indebted people in the country.

MyCall credit director, Alison Nicholson, says: “The Government and lenders are becoming increasingly concerned about many families’ levels of debt. Our research shows people living in East, South East and North London, as well as Liverpool, Uxbridge and Motherwell, are the most likely to be financially stretched.”

She continues: “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. They can then add this to the information they already know and this can be shared amongst lenders to make responsible decisions.”

Financial adviser Martin Cunningham reckons that the survey is very useful. “We are constantly told about the £1 trillion debt mountain in this country,” he says, “but to have it presented geographically helps to identify the hot spots.

“If I was setting up as an adviser now, for example, I might make a beeline for Dorchester or Salisbury, as these are the least indebted towns in the country according to the research.”

Related Posts


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • RT @procopywriters: Self-employed workers lose an annual average of twenty days chasing unpaid invoices. As the growth of the #freelance la…
  • RT @procopywriters: Self-employed workers lose an annual average of twenty days chasing unpaid invoices. As the growth of the #freelance la…
  • Self-employed workers lose an annual average of twenty days chasing unpaid invoices. As the growth of the…

Read previous post:
In the mood to save

The number of Brits that want to save has increased by 10 per cent in the last year, according to...