Londoners top the debt league
Thursday, 16 February 2006 12:00
Londoners have more debt than residents of other place in the UK, new figures reveal.
But while residents of the capital are most in the red, people living in the south-west have the lowest debt burden in Britain, according to a study by credit monitoring service MyCallcredit.
More specifically, people living in east London and Uxbridge are the most indebted in the UK, while residents of Dorchester and Salisbury have the least debt.
"The government and lenders are becoming increasingly concerned about families' levels of debt. Our research shows people living in east , south-east and north London as well as Liverpool, Motherwell and Uxbridge are the most likely to be stretched financially," said MyCallcredit director Alison Nicholson.
"From a lenders 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 that being shared among lenders to make responsible lending decisions.
The indebtedness index was created by analysing consumers based on a number of debt indicators, including outstanding credit balances, debt relative to income, and falling behind in debts.
Top 20 Most indebted towns in the UK
East London
Uxbridge
South East London
Liverpool
Motherwell
North London
Kilmarnock
Sunderland
Birmingham
Ilford
Middlesbrough
Harrow
Romford
North West London
Wigan
Wolverhampton
Kirkaldy
Glasgow
Croydon
Oldham
Top 20 Least indebted towns in the UK
Dorchester
Salisbury
Bournemouth
Taunton
Bath
East Central London
Oxford
Exeter
Southampton
Redhill
Torquay
Guildford
Shrewsbury
Harrogate
York
Tunbridge Wells
Guernsey
Lancaster
Bristol
St Albans
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