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- Areas of Southampton, Peterborough and Newcastle upon Tyne have some of the highest levels of personal debt
- Total mortgage debt in South West London is similar to that of Wales
- IV48 8 in Inverness has the lowest level of outstanding mortgage debt per head
Residents in parts of Southampton, Peterborough and Newcastle upon Tyne have the highest levels of personal debt of any UK region, a new survey reveals. 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 of personal loan debt per head – the highest level in Britain. Residents in the Peterborough postcode of PE7 0 (which covers the areas of Coates, Hampton, Folksworth, Yaxley and Whittlesey) fared little better, with average personal loan debt hitting £1,869 per person. In third place is the postcode of NE13 9 in Newcastle, which includes Wideopen and Dinnington, where the loan level stands at £1,550 per head of the population.
The debt figures were compiled by the British Bankers’ Association and the Council of Mortgage Lenders, and cover around 9,000 postcode sectors. They revealed that total outstanding mortgage debt in South West London alone is at similar levels to that for the whole of Wales. However the high borrowing figures in areas such as Southampton and Peterborough do not necessarily mean that residents are in poor financial health.....Read more here