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.
- 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.