The recent data reveals that more than one trillion pounds has been lent by UK banks to citizens. This shows a very high increase in the indebtedness of the country. Sources from The Telegraph indicate that this is a raw data as the lending for SME is different in different parts of the country and the number can vary. The high street banks are blamed for helping only the affluent areas.
Detail data
About 885 billion pounds are lent for mortgage and only 100 billion pounds were allocated to SMEs and about 30 billion pounds was distributed, as personal loans. This data was broken down into 9000 postcodes to give the exact level of indebtedness. This figure explains that the bank, failing to support the first time buyers and SMEs. The lending for SMEs is below the national average, in certain areas. This data was released by CML and BBA.
Reason behind the support for affluent areas
It is natural that an area which has very high benefit claimants level would have very low lending requirements. This fact is twisted and shown as something else, according to many sources. The result is that the indebtedness in the United Kingdom has risen to new highs.