The UK’s least credit-worthy regions

[scooterscot]

There is clearly some confusion if Kyle Of Lochalsh is in Central Scotland.

whs

[scooterscot]

I would love to see a German equivalent but there won't be one. As few banks actually lend money to Germans.

A lot of Germany cities are bankrupt. Particularly up and down West Germany, the Rhine region.

[Benny]

Lancashire has got a lot bigger since I were a lad!

[minestrone]

There is clearly some confusion if Kyle Of Lochalsh is in Central Scotland.

[eek]

Must be a lot of indebted folks about to have so many regions swathed as a high credit risk.

The UK

It's really a chart of relative wealth and average wages rather than anything else... low average wages = high risk as the cost of living leaves little spare income.

Its many things and not news.

I would love to see a German equivalent but there won't be one. As few banks actually lend money to Germans.

[scooterscot]

Must be a lot of indebted folks about to have so many regions swathed as a high credit risk.

The UK

The UK’s least credit-worthy regions

confused.com uk credit rating
People in the North East have the lowest average credit scores in Britain, while those from the North of Scotland are considered the safest bet by lenders.

A new study has ranked the regions of the UK by the average credit scores of their residents, revealing the parts of the country where customers are most and least likely to qualify for a credit card, loan or mortgage.

After the North East, people from Lancashire, Wales, the West and Yorkshire had the lowest average credit ratings, according to research by Confused.com, the comparison website.

Meanwhile, London, the East, South East and South West of England had the highest proportion of credit-worthy residents after the North of Scotland (see map above).

Some 60 per cent of people have no idea what their credit rating is and nearly half of those surveyed were unaware that using payday loans could make it harder to qualify for a mortgage.

Borrowers with a low credit score are more likely to be refused credit or have to pay a higher interest rate. Credit card and loan companies charge different interest rates depending on credit score and many of the mortgage lenders offering the cheapest deals require applicants to have a near-perfect record.

Christmas shoppers have been warned to be careful not to ruin their credit scores by borrowing too much.

If you regularly spend right up to your credit card’s limit, fail to pay off the full amount at the end of each month or use it to withdraw cash, this could lower your score.

Experian, the credit reference agency, found that nearly a third of people finance Christmas on their credit cards, while one in five go over budget.

James Jones, head of consumer affairs at Experian, said: “How you manage credit cards can be analysed closely by lenders and doing something as simple as regularly withdrawing cash out of the ATM using your credit card or only meeting your minimum card repayments could put future lenders off.”