London area with most mortgage debt revealed
June 20, 2025 by Alan
News
The part of the UK that has the highest per household mortgage debt is South West London, according to new data that has just been released.
The source of that data is UK Finance and it was analysed by Bridging Finance London. The aim was to find out which local council area has the highest level of mortgage debt, and a simple method was used. This involved dividing the outstanding mortgage totals for each area by the number of actual households. What the results show is that South West London has more mortgage debt per person than any other area.
Its per household debt currently stands at £109,134.39, which puts it comfortably ahead of the area in second place. The total outstanding mortgage debt for the area is roughly £41.7 billion, with this being split between around 382,000 homeowners.
Among the likely reasons that have been cited for the scale of the mortgage debt are average property prices for the area and high interest rates. The areas in second and third place are also in the South East, which is the region with the highest prices. Kingston upon Thames was second, while East Central London was third.
Matthew Archer from Bridging Finance London told Mortgage Introducer that:
“Areas with higher house prices typically have higher levels of mortgage debt, because the amount you take out for your mortgage loan is directly tied to the cost of the house that you’re buying.”
This is something an advisor with the CeMAP qualification might be able to help with.
Written by
Alan
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