Published On: Mon, Apr 8th, 2024

The UK city where people are least likely to lend money to loved ones according to survey | Personal Finance | Finance

Newcastle has been named as the UK city where people are least likely to lend money to loved ones after 14 percent of respondents to research said they would not lend cash to family and friends.

A further 16 percent of Newcastle residents responded that they would “maybe” consider loaning out the funds, new research from payment app VibePay has found.

The research, a survey of 2,000 UK residents 16+ completed by Censuswide, found that across the UK an average of nearly one in ten people would never lend a friend or loved one cash, with eight percent ruling it out, and 13 percent responding with “maybe”.

This means that nearly eight in ten people responded that they have or would lend the money out.

The second least generous UK city is Birmingham with 11.76 percent of respondents saying they would not lend out the money.

The research also found that the UK’s most generous city is Southampton, with 84 percent admitting they would let loved ones borrow money. 

The second most generous city was found to be Norwich with a “yes” rate of 82.89 percent.

The research also found that 29 percent of people had fallen out with a friend or loved one at some point over money. 

The study found it’s those in Cardiff that are most likely to fall out with friends/loved ones over money that they fail to pay back in time, with just under 40 percent admitting they’d found themselves in feuds over finances with friends, 10 percent higher than the national figure of 29 percent.

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