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March's Money Statistics from The Money Charity PDF Print E-mail
Wednesday, 02 March 2016

Striking numbers:


£11.2 billion: The government surplus in January
0.37%: The record low average interest rate from an instant access savings account
1.41%: Loans in arrears represented this proportion of the residential loan book
0.66%: The average interest rate from an ISA
£231,843: The average cost of raising a child to 21 years old
3.7%: The unemployment rate in the South West – the lowest in the UK
83 months: The period of time the Bank of England base rate has been at 0.5%
5.935 million: Employees are auto-enrolled to their pension
33%: Of households owned their home outright

Everyday in the UK
222 people a day are declared insolvent or bankrupt. This is equivalent to one person every 6 minutes 13 seconds.
It costs an average of £30.23 per day to raise a child from birth to the age of 21.
Net lending to individuals in the UK increased by £171m a day.
The Government had a surplus of £361m a day during December 2015 (£4,182 per second).
7.8m cash machine transactions were made every day in November with a value of £305m.

Personal debt in the UK
People in the UK owed £1.460 trillion at the end of January 2016. This is up from £1.428 trillion at the end of January 2015 – an extra £631.15 per UK adult.
The average total debt per household – including mortgages – was £54,080 in January. The revised figure for December was £53,910.
Outstanding consumer credit lending was £179.49 billion at the end of January 2016.
This is up from £171.41 billion at the end of January 2015, and is an increase of £159.86 for every adult in the UK.
Total net lending to individuals by UK banks and building societies rose by £5.3 billion in January 2016 – or £171m a day.
UK Banks and Building Societies wrote off £3.175 billion of loans to individuals over the four quarters to Q4 2015.

Mortgages, rent and housing
Outstanding mortgage lending stood at £1.281 trillion at the end of January.
This is up from £1.257 trillion a year earlier.
The average mortgage Interest rate was 2.96% at the end of January. Based on this, households with mortgages would pay an average of £3,422 in mortgage interest over the year.
The Office of National Statistics say that the average house price for first-time buyers was £219,000 in December 2015, which is an annual increase of 6.7%.
According to the Council of Mortgage Lenders (CML), the typical first-time buyer deposit in November was 19.6% (around £37,441) – 145% of an average salary.
 
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