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Typical worth of loans is gloomier into the North of England and greater in London

Typical worth of loans is gloomier into the North of England and greater in London

Figure 4 suggests that better London not just has more loans as a whole, nevertheless the worth of each loan is an average of greater (ВЈ284) compared to other geographic regions of the UK (British average = ВЈ250). This might be apt to be as a result of greater expenses of surviving in the main city. In comparison, the North western is among the British geographic areas using the number that is largest of loans originated, nonetheless it has got the second cheapest average loan quantity (ВЈ234).

Borrower insights

Borrowers are predominantly young

In accordance with our Financial Lives Survey 2017, borrowers with HCSTC loans (payday and short-term instalment loans) differ in age.