A quarter of the UK’s outstanding mortgage debt comes from homes in London, according to new data from the Council of Mortgage Lenders.
The CML recently released an updated chart of mortgage lending data for England, Wales and Scotland, analysis of which reveals that a total of £897 billion is still owed on homes in the UK. 25 per cent of this is made up by London homes, with 44 per cent in London and the South East.
A study from Nottingham Trenty University, though, suggests that homes in the north are more at risk thanks to the more common occurence of variable-rate mortgages, which would be impacted by any Bank of England interest rate rises.
Source: The Movechannel