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Redditch households have some of the area's highest mortgage debt
8:50am Saturday 11th January 2014 in News
HOMES in the B98 and B97 areas of Redditch have a combined total of more than one billion pounds outstanding mortgage loan debt.
In the top 10 biggest mortgage debts in the Birmingham area, according to figures released by the Council of Mortgage Lenders (CML), Redditch comes 7th and 8th.
Properties in the the B98 postcode district , which include the town centre and South Moons Moat, have combined amount of outstanding mortgage loan debt of £528,380,321 while those in B97, including areas such as Southcrest, Smallwood and Oakenshaw, have £499,936,605 outstanding debt.
CML director general Paul Smee said: “As you would expect, strong levels of mortgage lending are broadly correlated with those areas where there is a strong resident population.
“While the dataset covers only three quarters of the mortgage lending market, it certainly shows that there are reassuringly few surprises in the postcode distribution of mortgage lending.”
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