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.