More than a quarter of Britain’s £891bn mortgage debt is secured on properties in London, according to figures which break down lending to postcode level for the first time.
The figures, which go down as far as postcode sector level, which is designated by the first digit of the second half of the code, show that a total of £227bn worth of home loans are outstanding in the capital.
The postcode with the most mortgage debt is SW11 6, in Wandsworth, south London, where households owed a collective £649m at the end of June, while in second place comes E14 9, which covers parts of Tower Hamlets, including Canary Wharf and the Isle of Dogs.
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