Which areas in Stoke-on-Trent are most and least likely to experience a mortgage crisis.

The current interest rate of 5% is the highest in 15 years.

A recent increase in mortgage interest rates to 5% has revealed where in Stoke-on-Trent individuals are most likely to experience a mortgage crisis.

The most recent interest rate announcement—the 13th straight increase—came during a week in which the national average for two-year fixed mortgage rates exceeded 6%.

As a result, thousands of Stoke-on-Trent homeowners will experience agony, but many locals won’t pay it any attention. And the reason for that is that residences are typically owned outright in most places.

Trentham East in Stoke-on-Trent has the largest proportion of residences that are owned outright, at 52%, with 38% being mortgage-owned.

Hanford & Trentham West and Meir Park, where half of the residences are completely owned, come in second and third, respectively. The proportion of locals in such localities who have mortgages on their homes was 31 and 38, respectively.

Longton East, with a comfortable 43 percent, has the greatest proportion of homeowners with mortgages. But even there, with 44% of the total, there were slightly more outright owners.

The next greatest percentage of mortgages was found in Trentham East and Goldenhill & Sandyford (36%). In the latter, there were 13% more mortgaged homeowners than outright owners.

More than 181,000 homes in Staffordshire are owned outright by the residents. As opposed to about 149,000 people who have a mortgage on it. The situation differs, nevertheless, across the county. In 29 Staffordshire communities, at least half of the residents are house owners.

More people in the UK own their homes outright than those who have mortgages on them. According to data from the 2021 census, 8.1 million households own the home they reside in outright. That equates to 33% of all households.

7.4 million households own their homes outright, partially, or with a mortgage or loan. That equates to somewhat fewer than 30% of households. Less than 20% of renters live in private rented property, and 17% live in social housing, which represents a much lower percentage of the market.

the percentage of households that own their homes outright and the percentage that own them with a mortgage in each Stoke-on-Trent neighbourhood

52% / 38% for Trentham East
50% / 31% for Hanford & Trentham West
50% / 38% for Meir Park
Milton & Baddeley: 48% / 33%
46% to 33% for Weston Coyney
44% / 43% for Longton East
44% / 31% for Birches Head
40% / 25% for Townsend & Eaton Park
39% / 31% for Great Chell & Packmoor
39% to 31% for Hollybush and Blurton North
37% / 23% for Dresden
33% / 26% for Norton
33%/ 25% for Longton West and Sandford Hill
31%/24% for Bradeley and Chell Heath
Little Chell and Stanfield: 27%/31%
Tuscany: 30% / 27%
29/28 for Basford & Hartshill
29% / 32% Meir South & Lightwood
28% / 32% for Smallthorne & Sneyd Green
Sandyford and Goldenhill: 27% / 36%
Trent Vale and Oakhill: 26% / 27%
25% / 23% for Fenton
25% / 23% for Cobridge and Central Forest
24% / 22% for Tunstall
Meir North scored 24/23.
23% / 22% for Northwood
22% / 23% Boothen & Penkhull
20% / 21% for Abbey Hulton
19%/29% for Newstead and Blurton South
Burslem Park and Longport: 19% / 19%
17% / 18% for Hanley & Etruria
17% / 21% at Shelton & Joiner’s Square
15% / 14%: Bentilee & Ubberley