Here is an overview of The Money Charity’s latest statistics for December 2019:

Personal debt in the UK

  • People in the UK owed £1,665 billion at the end of October 2019.
  • The average total debt per household, including mortgages, was £59,840 and per adult was £31,569, around 111.7% of average earnings.
  • Net mortgage lending rose by £4.314 billion in the month, while net consumer credit lending increased by £0.518 billion.
  • Citizens Advice Bureaux across England and Wales answered 397,795 enquiries in November 2019 with 80,597 of those related to debt.

Spending and Loans

  • On average, 80.2 cash machine transactions (including balance enquiries and rejected transactions) were made every second in November 2019, a fall of 12.1% on November 2018.
  • The number of ATMs (in-branch and remote) fell from 68,610 at the end of 2017 to 63,160 at the end of 2018 (a fall of 7.9%) and to 61,961 in June 2019.
  • In Q2 2019, households in the UK spent £115.96 million a day on water, electricity and gas, or £4.18 per household per day.
  • UK Finance figures show that 53.0% of credit card balances were bearing interest in September 2019.

Mortgages and Rent

  • Outstanding mortgage lending stood at £1.440 trillion at the end of October 2019.
  • The average mortgage interest rate was 2.39% at the end of October. Based on this, households with mortgages would pay an average of £3,140 in mortgage interest over the year.
  • HM Land Registry reports that the average house price for first-time buyers in Great Britain was £195,225 in October 2019, an annual increase of 0.3% but a monthly decline of 1.1%.
  • According to the Office for National Statistics, private rental prices in the UK rose by 1.4% in the 12 months to November 2019.

Financial Inclusion

  • According to the FCA, in the UK in 2017 there were 1.3 million people who did not have a bank account. This was 3% of the UK adult population.
  • According to the 2019 Access to Cash Review, 2.2 million people use only cash in their daily transactions.
  • 1.94 million households did not have access to the Internet in 2019, according to ONS.
  • Low-income people pay a ‘poverty premium’ in buying their goods and services of £256-£490 per year, according to the Social Market Foundation.The full report can be found here.

The full report can be found here.