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Which London borough is the most financially savvy?

Credit score map of London by ClearScore

People who live in the Royal Borough of Kingston upon Thames are the most financially fit in London according to some London-specific research we conducted last week. We used credit scores as an indicator and discovered that Kingston has an average score of 436 – 50 points (13%) higher than the London average of 386.1

The analysis of millions of credit scores reveals South London as a whole wins the age-old North/South/East/West debate with an average score of 401. North London has a score of 396, the West is just behind with 390 but the average drops to 376 in Central London. Boroughs in the East trail behind the rest of the capital with a “fair” score of 375 on average.

If you want to work out how the financial fitness of your borough compares to the rest, check out the map and table below.

The worst credit area of London is the Borough of Newham which has a score of just 344. In fact it is only Sutton and Kingston upon Thames which have an average credit score of 420 or above,  considered to be a ‘good’ credit rating. The rest of the boroughs are above the national average of 380, considered to be a ‘fair’ credit score.

Interestingly, a higher average income does not automatically lead to a higher average credit score. For example, residents in up-market Kensington and Chelsea are among the Capital’s highest earners at £131,000 per annum, but they rank in the middle of the credit score table.3 The reality is that you don’t need a high income to build a high credit score.

Your credit score is important as an indication of your creditworthiness. Lenders use credit scores as an indication of how risky you are to lend to, as well as to determine the interest rate you pay. For major loans like a mortgage, the difference in interest available to someone with a low credit score and someone with a strong score can add up to thousands of pounds a year. The impact is particularly acute in London, which has the highest average outstanding mortgage amount in the UK at £215,2804.


1 Kingston upon Thames 435.78  £39,900
3 Sutton 420.78  £32,400
4 Harrow 409.28  £33,300
5 Bexley 408.98  £28,600
6 Richmond upon Thames 408.78  £58,800
7 Barnet 404.97  £41,000
8 Hounslow 402.80  £32,200
9 Merton 402.30  £44,400
10 Barking and Dagenham 400.07  £23,700
11 Bromley 399.40  £37,200
12 Redbridge 399.14  £31,800
13 Enfield 396.20  £30,800
14 Wandsworth 395.53  £54,700
15 Waltham Forest 391.58  £26,200
16 Ealing 389.33  £32,600
17 Havering 388.74  £30,600
18 Hillingdon 388.26  £30,100
19 Islington 385.97  £48,400
20 Westminster 385.86  £92,200
21 Kensington and Chelsea 385.44  £131,000
22 Croydon 383.77  £30,700
23 Camden 382.53  £71,200
24 Haringey 380.66  £35,400
25 City of London 378.90  £131,000
26 Greenwich 369.55  £31,500
27 Lambeth 364.27  £37,600
28 Lewisham 363.84  £30,400
29 Hammersmith and Fulham 363.53  £54,300
30 Hackney 363.15  £32,700
31 Brent 361.41  £28,300
32 Tower Hamlets 358.52  £39,000
33 Southwark 353.19  £37,500
34 Newham 344.08  £23,100

1 Data is based on analysis of millions of individual credit scores, across 3163 post codes in London, performed by credit checking service ClearScore.
2. Based on “Score Ranges” provided by Equifax.
3 Income data based on ONS average salary data 2013/14.
4 savills data February 2016. Highest figure in London compares to average of £114,167 across whole country. Lowest is North East which owes only £79,534.


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