Here is an overview of The Money Charity’s latest statistics for June 2017:
Personal debt in the UK
People in the UK owed £1.532 trillion at the end of April 2017. This is up from £1.485 trillion at the end of April 2016 – an extra £886.84 per UK adult
Per adult in the UK that’s an average debt of £30,340 in April – around 113.6% of average earnings. This is slightly up from a revised £30,179 a month earlier
Total credit card debt in March 2017 was £68.08bn. Per household this is £2,521 – for a credit card bearing the average interest, it would take 25 years and 11 months to repay if you made only the minimum repayment each month
Total net lending to individuals by UK banks and building societies rose by £4.3 billion in April 2017 – or £143m a day
Citizens Advice Bureaux across England and Wales dealt with 547,711issues in March 2017
Spending and Loans
The average interest rate on credit card lending bearing interest was18.21% in April. This is 17.96% above the Bank of England Base Rate (0.25%)
The average APR for a £5,000 personal loan is 7.85%, according to the Bank of England. For a £10,000 loan it’s 3.81%, while the average rate for an overdraft is 19.70%
In May 2017 the average price of unleaded petrol fell by 2.4 ppl (pence per litre) to 116.3ppl -This meant it cost £58.15 to fill a 50 litre unleaded tank
The average price of diesel fell to 117.4ppl
Mortgages, rent and housing
Outstanding mortgage lending stood at £1.334 trillion at the end of April
That means that the estimated average outstanding mortgage for the 11.1m households with mortgage debt was £120,230 in March
Halifax said that average house prices fell by £859 in May 2017. This is a monthly rise of 0.4%; prices fell by 0.2% over the quarter but rose by3.3% over the year
According to the Council of Mortgage Lenders (CML), the typical first-time buyer deposit in February was 15.2% (around £28,933) – 108% of an average salary
