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 of £30,012 in August – around 114% of average earnings. This is slightly up from a revised £20,910 a month earlier
  • Outstanding consumer credit lending was £203.030 billion at the end of August 2017
  • Citizens Advice Bureaux across England and Wales dealt with 465,607 issues in August 2017
  • Debt was the second largest advice category (behind benefits and tax credits) with 119,221 issues. This is 1% down on the same month last year. Debt issues represented 26% of all problems dealt with over the period

Spending and Loans

  • Data from LINK shows that, on average, 98 cash machine transactions (including balance enquiries and rejected transactions) were made every second in September 2017
  • The average APR for a £5,000 personal loan is 8.04%, according to the Bank of England. For a £10,000 loan it’s 7.91%, while the average rate for an overdraft is 19.72%
  • British Bankers Association figures show that 55.6% of credit card balances were bearing interest in July 2017

Mortgages rent and housing

  • The average mortgage interest rate was 2.53% at the end of August. Based on this, households with mortgages would pay an average of£3,078 in mortgage interest over the year
  • Halifax said that average house prices rose by £1,838 in September 2017. This is a monthly rise of 0.8%; prices rose by 1.4%over the quarter and rose by 4% over the year
  •  According to the Council of Mortgage Lenders (CML), the typical first-time buyer deposit in June was 17.5% (around £29,025) – 110% of an average salary

The report full report can be found here.