How much debt is there in your postcode?
Reading time: 2 minutes
As the Bank of England warns of the growing threat that household debt now poses to the UK economy, we take a look at the levels of indebtedness across the whole of Scotland.
UK consumer debt has soared by almost 10 per cent across the UK over the past year and unsecured consumer credit broke through the £200 billion barrier in June.
Now, new figures from UK Finance, the trade body for 300 finance, banking and payments providers, have revealed the levels of indebtedness in each of Scotland’s 15 postcodes, with Motherwell topping the list and Dumfries owing the least:
The UK Finance research found that the average consumer debt per person in the UK stands at £603, while the average household debt was £1,441 at the end of 2016.
The most indebted place in the whole of the UK per capita is Northampton at £749, followed by Salisbury at £739, while Lerwick and Bradford at £446 and £450 have some of the lowest debt levels per capita in the UK.
*The data covers 60 per cent of personal loans issued by major banks and credit unions therefore credit issued by other banks and some non-bank lenders, such as pay-day lenders, are not included in the figures.
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