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London dominates 'high risk mortgage lending' league table

Locations in the capital dominate a league table of locations where the largest numbers of so-called ‘high risk’ mortgages are taken out.

According to Bank of England guidance, mortgages are considered high risk if they are lent at 4.5 times or more of the applicant’s salary.

Now a peer-to-peer lending platform, Lendy, has drawn ip a league table having analysed mortgage lending ratios in all 2,578 UK postcodes during 2017.


The UK average was 39 risky mortgages per area last year but Croydon saw the highest number of all - 463. 

Other London areas including Walthamstow, Wandsworth, Streatham, Tooting and Wimbledon are in the top 10 high risk mortgage locations. 

In total, Lendy says the number of risky mortgages in the UK jumped by 15 per cent last year, with 101,380 approved by banks.

The top 10 are:

1. Croydon, 463 

2. Walthamstow, 421

3. Wandsworth, 363

4. Streatham, 322

5. Tooting, 319

6. Brighton, 313

7. Hove, 296

8. Battersea, 296

9. Farnborough, 294

10. Wimbledon, 276.


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