Here is an overview of The Money Charity’s latest statistics for April 2021

Personal debt in the UK

  • People in the UK owed £1,698.4 billion at the end of February 2021.
  • The average total debt per household, including mortgages, was £60,935 and per adult was £32,053, around 108.2% of average earnings.
  • Net mortgage lending rose by £1.86 billion in the month, while net consumer credit lending fell by £1.71 billion.
  • Citizens Advice Bureaux across England and Wales answered 420,565 enquiries in March 2021, 6.0% up from March 2020.

Spending and Loans

  • On average, 42.8 cash machine transactions (including balance enquiries and rejected transactions) were made every second in March 2021, a fall of 26.1% on March 2020.
  • The number of ATMs (in-branch and remote) fell from 60,662 at the end of 2019 to 54,574 at the end of 2020 (a fall of 10.0%.)
  • In Q4 2020, households in the UK spent £117.1 million a day on water, electricity and gas, or £4.20 per household per day.
  • UK Finance figures show that 56.3% of credit card balances were bearing interest in January 2021.

Mortgages, Rent and Housing

  • Outstanding mortgage lending stood at £1,501 billion at the end of February 2021.
  • The average mortgage interest rate was 2.09% at the end of February 2021. Based on this, households with mortgages would pay an average of £2,855 in mortgage interest over the year.
  • HM Land Registry reports that the average house price for first-time buyers in Great Britain was £210,560 in February 2021, an annual increase of 8.6% and a monthly increase of 0.4%.
  • According to the Office for National Statistics, private rental prices in the UK rose by 1.3% in the 12 months to March 2021.

Financial Inclusion

  • According to the FCA, in the UK in 2020 there were 1.2 million adults who did not have a bank account. This was 2.3% of the UK adult population.
  • According to the 2019 Access to Cash Review, 2.2 million people use only cash in their daily transactions.
  • According to ONS, 1.11 millionhouseholds did not have access to the Internet in Jan-Feb 2020. This included 20% of one adult households aged 65+.
  • Recent research by Turn2us and Fair By Design found that low-income households pay a ‘poverty premium’ in buying their goods and services of £478per year.

The full report can be found here.