Locations in the capital dominate a league table of locations where the largest numbers of so-called ‘high risk’ mortgages are taken out.
According to Bank of England guidance, mortgages are considered high risk if they are lent at 4.5 times or more of the applicant’s salary.
Now a peer-to-peer lending platform, Lendy, has drawn ip a league table having analysed mortgage lending ratios in all 2,578 UK postcodes during 2017.
The UK average was 39 risky mortgages per area last year but Croydon saw the highest number of all - 463.
Other London areas including Walthamstow, Wandsworth, Streatham, Tooting and Wimbledon are in the top 10 high risk mortgage locations.
In total, Lendy says the number of risky mortgages in the UK jumped by 15 per cent last year, with 101,380 approved by banks.
The top 10 are:
1. Croydon, 463
2. Walthamstow, 421
3. Wandsworth, 363
4. Streatham, 322
5. Tooting, 319
6. Brighton, 313
7. Hove, 296
8. Battersea, 296
9. Farnborough, 294
10. Wimbledon, 276.
The director of an estate agency has been ordered to pay...
London estate agency Foxtons is set to continue its expansion with...
Mortgage rates could be set to finally fall below 5%, brokers claim. The...
One of the UK’s largest mortgage lenders has reduced its upper...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
In today's rapidly evolving property market, the focus on reducing transaction...
.png)
An exciting new collaboration between TVPN, EstateApps and Paul Long is...
By Mike Bilboe, Face For Business Buying or selling a home can...
LSL Estate Agency Franchising is home to one of the UK’s...
.png)
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment