London’s boroughs have been mapped and ranked according to how fit their residents are – financially fit that is.
Data from analysis of millions of individual credit scores across 3,163 post codes in London has been used to produce the results.
The borough found to have the best average credit score is Kingston, while the worst borough is Newham.
Only Sutton and Kingston have an average score of 420 or above, which is considered to be a ‘good’ rating, meaning you could get better rates on financial products like credit.
Overall, south Londoners are faring better than residents in the north of the capital – 401 to 396, followed by the west, central and then the east trailing behind.
South-west London boroughs make up four of the top 10, with Richmond and Merton ranking highly behind Kingston and Sutton
This is better than the south-east side, with just Bexley at number four and Bromley just inside the top 10.
The average credit score in London is 386, which is above the national average of 380 that is considered to be a ‘fair’ rating.
A higher income does not automatically lead to a higher credit score. For example, residents in Kensington and Chelsea are among the capital's highest average earners at £131,000 a year but they rank in the middle of the credit score table.
Your credit score is used by companies as an indication of how risky you are to lend to and to determine the interest rate you pay.
The difference in interest available to someone with a low credit score and someone with a strong score can be worth thousands of pounds a year – it has an especially acute impact in London, which has the highest average outstanding mortgage amount in the UK at £215,280.
The area in which you live in can also have an impact on your individual score.
The credit score research has come from ClearScore.com, which is encouraging people to check their free credit score and correct any errors to increase their chances of accessing the best deals and prices for financial services.
As well as the league above, use the interactive map below to see how your borough compares with the rest of London.
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