Londoners 'have the biggest debt'

Consumers are continuing to borrow, says the report

Londoners are borrowing at above average levels despite the recent credit crunch, said a new report.

It found residents in six London boroughs had the biggest debts, followed by Liverpool and Birmingham.

East London topped the UK league table, but the research by credit reference agency Callcredit suggested a "borrowing boom" across the country.

"Despite the credit crunch, consumers seem to be borrowing more and more," said Owen Roberts, of Callcredit.

"This goes to further illustrate that the increasing cost of living in London isn't being matched by corresponding salary increases, which leaves people relying more on credit than on savings."