Preston in 10th spot in table of personal loan debt

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Preston people have the tenth highest level of personal loan debt per head in Britain, according to latest figures.

The average debt in the PR7 postcode area is £1,355.

People living in parts of Bath, Islington in north London and Alnwick in Northumberland have the highest levels of personal loan debt per head in Britain, according to figures published by major lenders.

The figures, which have been released jointly by the British Bankers’ Association and the Council of Mortgage Lenders, aim to give a more detailed picture of how borrowing by people and businesses varies across more than 9,000 postcode sectors.

They also reveal that one quarter of Britain’s £897bn mortgage debt is owed by people in London, at around £229bn, amid strong house price growth in the capital.

While only around three per cent of it is held in the North East, at £26bn.

London’s mortgage debts, combined with those in the South East, come to around £392bn – equating to over two-fifths of Britain’s total outstanding mortgage debt.

The figures, which are for the end of September 2013, do not include all banks and building societies.

Those lenders which have participated cover about three-quarters of the mortgage market, three-fifths of bank lending to small and medium-sized businesses and three-fifths of personal loans.

Manchester was slightly ahead of Preston in the list with £1,365 per head.