Southampton people have some of the highest levels of personal loan debt

First published in Hampshire Business

PEOPLE living in the postcode areas of Southampton, Peterborough and Newcastle upon Tyne have the highest levels of personal loan debt per person in Britain, according to figures from lenders.

Data which covers just under twothirds of the country’s personal loan market and around threequarters of mortgage lending was published jointly by the British Bankers’ Association (BBA) and the Council of Mortgage Lenders (CML).

The figures, which cover around 9,000 postcode sectors, show that the total outstanding mortgage debt in south west London alone is at similar levels to that for the whole of Wales.

At the end of 2013, people living in the Southampton postcode area of SO32 3, which covers places such as Bishop’s Waltham, Corhampton, Droxford, Durley, Wickham and Eastleigh, have £1,880 worth of personal loan debt per head, which is the highest level in Britain according to the data.

The Peterborough postcode of PE7 0, which covers the areas of Coates, Hampton, Folksworth, Yaxley and Whittlesey has the second highest level of debt per person, at £1,869.

The report cautioned that the levels shown are not an indication of the “financial health” of borrowers.

For example, areas of Britain which are mainly industrial are unlikely to see high levels of personal loans. Nor do the figures indicate current demand for loans as they are made up of borrowing agreements which have been made in the past as well as debt which has been taken out more recently.

The figures also show that of Britain’s £902 billion-worth of outstanding mortgage debt that was held at the end of last year, almost £232 billion of it was held in London.

The mortgage and personal loan data has been provided by Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society, Santander, RBS, and Clydesdale and Yorkshire Banks.

Comments (4)

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12:08pm Mon 14 Jul 14

George4th says...

Imagine interest rates going up by 2% or 3% or 4% or 5% on that debt!

Add the country's debt on which we are currently paying £53 Billion a year in interest (and rising!).

Now you know why we have austerity for at least the next 4/5 years! And that's without any further disasters befalling us.
Imagine interest rates going up by 2% or 3% or 4% or 5% on that debt! Add the country's debt on which we are currently paying £53 Billion a year in interest (and rising!). Now you know why we have austerity for at least the next 4/5 years! And that's without any further disasters befalling us. George4th
  • Score: 2

1:29pm Mon 14 Jul 14

southy says...

Austerity is created by the greed of the rich and powerful few, there is no need for while you have tax avoiders in the top 1% who pay well under or no tax at all, this country is losing £billions in tax revenue each year, Enough tax to pay off this so called National Debt with in 6 years, but what do the Governments do they go after the poorest first, when they should be going to where the most can be acheved
Austerity is created by the greed of the rich and powerful few, there is no need for while you have tax avoiders in the top 1% who pay well under or no tax at all, this country is losing £billions in tax revenue each year, Enough tax to pay off this so called National Debt with in 6 years, but what do the Governments do they go after the poorest first, when they should be going to where the most can be acheved southy
  • Score: -1

7:23pm Mon 14 Jul 14

Linesman says...

George4th wrote:
Imagine interest rates going up by 2% or 3% or 4% or 5% on that debt!

Add the country's debt on which we are currently paying £53 Billion a year in interest (and rising!).

Now you know why we have austerity for at least the next 4/5 years! And that's without any further disasters befalling us.
The money is going into the Bankers' pockets.

I wonder which party they support financially.

I wonder which party has put them in dire straits where they have to borrow to survive.

Only a cynic would think that the two were cahoots!
[quote][p][bold]George4th[/bold] wrote: Imagine interest rates going up by 2% or 3% or 4% or 5% on that debt! Add the country's debt on which we are currently paying £53 Billion a year in interest (and rising!). Now you know why we have austerity for at least the next 4/5 years! And that's without any further disasters befalling us.[/p][/quote]The money is going into the Bankers' pockets. I wonder which party they support financially. I wonder which party has put them in dire straits where they have to borrow to survive. Only a cynic would think that the two were cahoots! Linesman
  • Score: 0

7:32pm Mon 14 Jul 14

forest hump says...

Meaningless data.
Meaningless data. forest hump
  • Score: 0

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