Here is an overview of The Money Charity’s latest statistics for October 2017: Personal debt in the UK People in the UK owed £1.554 trillion at the end of August 2017. This is up from £1.5 trillion at the end of July 2016 – an extra £1029.82 per UK adult. Per adult in the UK that’s an average debt…

Latest figures published by the Money Charity indicate that outstanding debt on mortgages has hit all-time high in the UK. Continued growth in house prices, along with a small decline in the number of outstanding home loans has led to the highest level of mortgage debt per household ever recorded. In its October Money Statistics report,…

The Financial Conduct Authority’s (FCA) has warned of a pronounced build-up of debt among young people. In an interview with the BBC, FCA Chief Andrew Bailey has highlighted the ‘growing debt burden’ on young people. The warning, which follows a tour of visits by Andrew Bailey to debt charities including National Debtline, coincides with new…

Latest research from the Joseph Rowntree Foundation (JRF) has highlighted how a benefits freeze will affect families- the majority of which are in work. The freeze is the single biggest policy driver behind the expected rise in poverty by the end of the Parliament. JRF is calling for the Government to target its resources better…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in August grew by 4% compared with the same month last year. Credit card and personal loan new business together grew by 4% compared with August 2016, while retail store and online credit new business increased by 7%. Second…

The Prime Minister’s has announced plans for a cap on energy bills at the Conservative Party Conference. Citizens Advice has welcomed the Prime Minister’s announcement of legislation to tackle high energy bills, saying it could provide a solution to runaway energy costs. The national charity has also called for the government to look at protecting low-income…

The concept of the ‘Bank of Mum and Dad’ is growing in importance but more than half of potential first-time buyers expecting to receive financial help from family to complete their purchase would feel guilty about doing so, new research reveals. The latest First-Time Buyers Report by Yorkshire Building Society shows 66% of UK adults aged 18-40…

R3 has published its latest UK personal finances statistics which indicated that two-fifths (41%) of British adults are at least fairly worried about their current level of debt, while a similar proportion (40%) say they sometimes or often struggle to make it to payday, says insolvency and restructuring trade body R3. The figures, from the…

Mounting debt is causing six in ten (59%) ‘Middle Britain’ families to fall short of the recommended level of savings to be financially resilient – leaving them at risk of being hit hard if they were to lose their income, according to new research by leading insurer, LV=. In the final instalment of its ‘Income…

Here is an overview of The Money Charity’s latest statistics for September 2017: Personal debt in the UK People in the UK owed £1.548 trillion at the end of July 2017. This is up from £1.489 trillion at the end of July 2016 – an extra £1033.06 per UK adult. Per adult in the UK…

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