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|November's Money Statistics from The Money Charity|
|Wednesday, 04 November 2015|
The Money Statistics November 2015.
£163m: The amount lending to individuals rose every day in September
£224.47: The increase in consumer credit per person in the year to September
£54.60 was spent every second on credit and debit cards
0.5%: The rate of growth in the UK economy in Q3 2015
4.7%: The average proportion of their post-tax income, including benefits, UK households save. The lowest since Q3 2008
61.52%: The proportion of payments due for loans in arrears were received in Q2
0.1%: The rate of inflation in September
£115,136: The average mortgage debt in September
£9.77: The amount of interest gained on the sum someone on the average salary would save at the normal savings rate in an ISA
Everyday in the UK
Borrowers would repay £145 million a day in interest over a year, based on August trends.
8.7m cash machine transactions were made every day in August with a value of £357 million.
35.8 million plastic card purchase transactions were made every day in July 2015, with a total value of £1.65 billion.
The number of mortgages with arrears of over 2.5% of the remaining balance fell by 62 a day.
Net lending to individuals in the UK increased by £232 a day.
The Government borrowed £390 million a day during August 2015 (£4,518 per second).
Personal debt in the UK
People in the UK owed £1.452 trillion at the end of September 2015. This is up from £1.418 trillion at the end of September 2014 – an extra £635 per UK adult.
The average total debt per adult – including mortgages – was £28,542 in September - around 112.7% of average earnings. This is up from a revised £28,535 in August.
Outstanding consumer credit lending was £174.26 billion at the end of September 2015.
This is up from £162.8 billion at the end of September 2014, and is an increase of £224.47 for every adult in the UK.
Mortgages, rent and housing
Outstanding mortgage lending stood at £1.275 trillion at the end of September.
That means that the estimated average outstanding mortgage for the 11.1m households with mortgage debt was £115,137 in September.
For new loans, the average Mortgage Interest rate was 2.57%. Using the latest figures from the Council of Mortgage Lenders, this means new mortgages would attract an average of £3,915 in interest over the year.
According to the Council of Mortgage Lenders (CML), the typical first-time buyer deposit in August was 16% (around £28,971) - 114% of an average salary.
Savings and pensions
In Q2 2015, households saved an average of 4.7% of their post-tax income.
If someone on the average salary saved 4.7% of their income in an average instant access savings account for a year, they would receive £3.74 in interest after tax.
If they saved it in an average cash ISA, they would receive £9.77. Around 9.61m (36%) households have no savings, while a further 3.47m (13%) have under £1,500. 71% have less than £10,000 in savings.
It would take 24 years for someone on the average salary, saving the average amount per household every year in an average instant access savings account, to afford the average first-time buyer deposit. If they saved into a cash ISA at the same rate it would take 23 years.
Spending and loans
In Q2 2015, households in the UK spent £89.11m a day on water, electricity and gas – or £3.34 per household per day.
In October 2015 it cost £54.60 to fill a 50 litre unleaded tank.
The average interest rate on credit card lending was 17.99% in August. This is 17.49% above the Bank of England Base Rate (0.5%).
During August 2015 an average of 411 purchases were made in the UK every second using debit and credit cards, based on figures from the UK Cards Association.
An average of £19,079 was spent every second using debit and credit cards.
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