LONDON (Reuters) - Rising interest rates are affecting certain regions -- including areas of Berkshire, London, Wales, Hertfordshire and Yorkshire -- more severely than others, research shows.
"People with savings will gain and those with mortgages or large amounts of unsecured debt will lose out," said Neil Blake, chief economist at Experian Business Strategies.
"However, our research shows that the winners and losers are heavily concentrated in some locations and in certain socio-economic groups."
The Bank of England has hiked the base rate to a six-year high of 5.75 percent, and analysts expect another rise before the end of the year.
People in Slough in Berkshire, Blaenau Gwent in Wales, Stevenage in Hertfordshire, Hull in Yorkshire and Corby in Northamptonshire are among those worst hit worst by the rising cost of borrowing, according to Experian's analysis.
Also among the top ten most affected areas are Waltham Forest, Brent and Newham in London, as well as Harlow, Barking and Dagenham in Essex.
The research takes into account a range of factors affecting individual wealth, such as gross income, taxation, interest payments, disposable income and consumer spending.
Blake said rising interest rates were "very bad news" for places like Hull, which is already suffering from floods after the wettest June since records began.
"Hull is joined by a number of areas of the UK that contain higher proportions of people with large mortgages, lower gross incomes, significant levels of unsecured borrowing and fewer savings," he added.
In contrast, local authority areas most resilient to the rise in rates include East Dorset, North Norfolk, Wealden and Rother in East Sussex, and Chiltern in Buckinghamshire, according to the research.
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