Figures published by the Council of Mortgage Lenders (CML) has revealed that more than one quarter of the country’s mortgage lending is now centred in this area. Home movers living in the London area are more active than home movers in other parts of the UK.
Houseladder.co.uk reports that a total of £227 billion of home loans out of the UK’s £891 billion mortgage market now relates to postcodes in London. The area with the most debt in the UK is SW11 6 in Wandsworth with a total of £649 million.
CML Director General Paul Smee commented: "As you would expect, strong levels of mortgage lending are broadly correlated with those areas where there is a strong residential population."