Money Statistics: September 2021

28th September 2021

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

Personal debt in the UK

  • People in the UK owed £1,741.7 billion at the end of July 2021.
  • The average total debt per household, including mortgages, was £62,670 and per adult was £32,931, around 109.3% of average earnings.
  • Net mortgage lending fell by £1.37 billion in the month, while net consumer credit lending increased by £0.12 billion.
  • Citizens Advice Bureaux across England and Wales answered 345,235 enquiries in August 2021, 11.3% up from August 2020.

Spending and Loans

  • On average, 52.2 cash machine transactions (including balance enquiries and rejected transactions) were made every second in August 2021, a decrease of 1.1% on August 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 Q1 2021, households in the UK spent £120.4 million a day on water, electricity and gas, or £4.33 per household per day.
  • UK Finance figures show that 53.3% of credit card balances were bearing interest in June 2021.

Mortgages, Rent and Housing

  • Outstanding mortgage lending stood at £1,544.2 billion at the end of July 2021.
  • The average mortgage interest rate was 2.05% at the end of July 2021. Based on this, households with mortgages would pay an average of £2,870 in mortgage interest over the year.
  • HM Land Registry reports that the average house price for first-time buyers in Great Britain was £214,237 in July 2021, an annual increase of 7.7% and a monthly fall of 3.7%.
  • According to the Office for National Statistics, private rental prices in the UK rose by 1.3% in the 12 months to August 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 Ofcom, 1.5 million households did not have access to the Internet in March 2021. This included 18% 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 £478 per year.

The full report can be found here.