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Metro
11-05-2025
- Business
- Metro
Map reveals the UK loan hotspots where people borrow the most money
Searches for the term 'I need a loan' surged by 35% in the past three months, reflecting a growing reliance on borrowing to navigate financial challenges. This is evidenced by the latest Pepper Money lending study, which found that more than half of Brits saw a drop in disposable income last year; and higher bills are hitting the nation's pockets hardest. As a result, a third of UK households have borrowed to pay for food or utilities, while 16% say their debt has increased 'a lot' over the previous 12 months. According to the lender's data, the average loan taken out in 2024 sat at £41,088, with the most common reason given being debt consolidation (accounting for around half of the total) followed by home improvement (making up 9.7%). Loans for property purchases or investment and those to fund travel or weddings are also becoming more common, as is medical-related borrowing to pay for private care. However, it seems that residents in some cities were far more inclined to borrow than others. Brummies were responsible for almost one in eight loans across the UK last year, with the average amount coming to £40,393. Here, weddings were the most common reason for borrowing – a stark contrast to Sheffield (which accounted for the second-highest proportion with 10.5%) where it was medical bills. Next up, Cardiff came in third with 9.5% of the country's loans, and the top five was rounded off by Newcastle and Nottingham, which racked up 8.5% and 8.2% respectively. More Trending Perhaps surprisingly, London didn't make the top 10. But although the capital made up just 3.9% of 2024 loans, the ones that were taken out were the largest among the cities studied, averaging at a whopping £61,681. Commenting on the findings, Ryan McGrath, sales director at Pepper Money, says: 'We're seeing more households in cities like Birmingham, Sheffield, and Cardiff using loans not just to consolidate debt, but also to invest in their homes and even fund major life events. 'Rising costs mean people are looking for smarter ways to borrow, and secured loans are becoming a more popular option for homeowners who want to access larger sums at lower rates. View More » 'The key is ensuring that any loan, whether for home improvements, debt consolidation, or personal milestones, is the right fit for their financial situation by seeking financial advice.' Birmingham Total loan %: 12.5% Average loan amount: £40,393 Sheffield Total loan %: 10.5% Average loan amount: £35,077 CardiffTotal loan %: 9.5% Average loan amount: £36,636 Newcastle upon Tyne Total loan %: 8.5% Average loan amount: £37,669 Nottingham Total loan %: 8.2% Average loan amount: £35,794 GlasgowTotal loan %: 7.9% Average loan amount: £37,100 LeicesterTotal loan %: 7.8% Average loan amount: £42,057 ManchesterTotal loan %: 6.8% Average loan amount:£39,317 BristolTotal loan %: 5.8% Average loan amount: £48,102 EdinburghTotal loan %: 5% Average loan amount: £41,011 Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ MORE: Brits could save £868,000,000 a year with these kitchen cupboard cleaning swaps MORE: Cars catch fire at London shopping centre with smoke pouring into the sky MORE: Doctor found dead in bath after learning her boyfriend had one-night stand
Yahoo
28-02-2025
- Business
- Yahoo
Pepper Money Full Year 2024 Earnings: EPS Beats Expectations
Revenue: AU$386.9m (down 7.4% from FY 2023). Net income: AU$98.8m (down 11% from FY 2023). Profit margin: 26% (down from 27% in FY 2023). The decrease in margin was driven by lower revenue. EPS: AU$0.22 (down from AU$0.25 in FY 2023). All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%. Looking ahead, revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 5.6% decline forecast for the Diversified Financial industry in Australia. Performance of the Australian Diversified Financial industry. The company's shares are down 3.8% from a week ago. What about risks? Every company has them, and we've spotted 2 warning signs for Pepper Money (of which 1 is a bit unpleasant!) you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
