Here is an overview of The Money Charity’s latest statistics for June 2018:
Personal debt in the UK
People in the UK owed £1.539 trillion at the end of April 2018. This is up from £1.535 trillion at the end of April 2017– an extra £949.30 per UK adult.
Per adult in the UK that’s an average debt of £30,597 in April – around 113.9% of average earnings. This is slightly down from a revised £30,604 a month earlier.
Outstanding consumer credit lending was £210.6 billion at the end of April 2018.
Citizens Advice Bureaux across England and Wales dealt with 505, 512 issues in April 2017.
Debt was the second largest advice category (behind benefits and tax credits) with126,429 issues. This is up 21% on the same month last year. Debt issues represented 25.5% of all problems dealt with over the period.
Spending and Loans
Data from LINK shows that, on average, 90 cash machine transactions (including balance enquiries and rejected transactions) were made every second in April 2018.
In total, cash machine transactions were worth an average of £3,793 in April 2018.
The average APR for a £5,000 personal loan is 8.14%, according to the Bank of England. For a £10,000 loan it’s 3.81%, while the average rate for an overdraft is 18.26%.
It cost an average of £23.61 a day for a couple family to raise a child to the age of 18.
It cost an average of £28.48 a day for a lone parent family.
Mortgages rent and housing
The average mortgage interest rate was 2.49% at the end of April. This stood at 2.05% for new loans. Based on this, households with mortgages would pay an average of £3,081 in mortgage interest over the year. New loans would attract an average of £2,860 in interest.
Halifax estimate that house prices rose by %.5% compared to last months estimate, up by 0.2% over the quarter and 1.9% annually. Nationwide estimate house prices fell by 0.2% in May, up 2.4% on 12 months ago.
According to UK Finance, the typical first-time buyer deposit in November was 16.6% (around £27,955) – 104% of an average salary.
