Money Statistics: June 2021

1st July 2021

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

Personal debt in the UK

  • People in the UK owed £1,714.4 billion at the end of April 2021.
  • The average total debt per household, including mortgages, was £61,509 and per adult was £32,355, around 108.7% of average earnings.
  • Net mortgage lending rose by £3.29 billion in the month, while net consumer credit lending fell by £2.13 billion.
  • Citizens Advice Bureaux across England and Wales answered 334,571 enquiries in May 2021, 23.8% up from May 2020.

Spending and Loans

  • On average, 48.9 cash machine transactions (including balance enquiries and rejected transactions) were made every second in May 2021, an increase of 18.7% on May 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 February 2021.

Mortgages, Rent and Housing

  • Outstanding mortgage lending stood at £1,519.8 billion at the end of April 2021.
  • The average mortgage interest rate was 2.07% at the end of April 2021. Based on this, households with mortgages would pay an average of £2,857 in mortgage interest over the year.
  • HM Land Registry reports that the average house price for first-time buyers in Great Britain was £210,856 in April 2021, an annual increase of 9.0% and a monthly fall of 1.7%.
  • According to the Office for National Statistics, private rental prices in the UK rose by 1.2% in the 12 months to May 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.