Finsbury people some of the most debt ridden in the country

PUBLISHED: 06:15 13 October 2014

People in Finsbury are among the most debt-ridden in the country

People in Finsbury are among the most debt-ridden in the country

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People living in Finsbury are the third most debt-ridden in the country, new research reveals.

Figures released jointly by the British Bankers’ Association (BBA) and the Council of Mortgage Lenders (CML) how those living in the EC1 2 postcode have an average of debt per head is £1,523.

Only parts of Peterbrough and Newcastle had higher levels of personal loan acoording to the survey of more than 9,000 post codes.

The BBA’s chief economist Richard Woolhouse said it is hard to draw any firm conclusions about the figures but lenders are publishing them as part of efforts to increase transparency.

He said: “When we look up and down the country, we can see a good spread of lending. That’s important for individuals, businesses and the wider economy.”

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