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|January's Money Statistics from The Money Charity|
|Wednesday, 18 January 2017|
7 million: Employees had joined a pension scheme under auto-enrollment by the end of November 2016
£50.574 billion: The amount Britons would pay in interest over a year at November rates
£1,001: The amount the average adult pays in interest annually, at November rates
3.79%: The proportion of average pay spent on interest at an annual rate
81%: Private debt as a percentage of annual GDP to Q3 2016
£26,364: The average annual wage including bonuses in the UK
1.6%: The rate of inflation in December, up 0.4% from November
£3.25 : The sum spent per household every day on water, gas and electricity
84.5%: Public debt as a proportion of GDP
Everyday in the UK
41 million plastic card purchase transactions were made every day in October 2016, with a total value of £1.78 billion.
8.7m cash machine transactions were made every day in November with a value of £356m.
Net lending to individuals in the UK increased by £170 million a day.
Borrowers would repay £139 a day in interest over a year, based on November 2016 trends.
Personal debt in the UK
People in the UK owed £1.512 trillion at the end of November 2016. This is up from £1.460 trillion at the end of November 2015 – an extra £1017.04 per UK adult.
Based on November 2016 trends, the UK's total interest repayments on personal debt over a 12 month period would have been £50.574 billion.
That’s an average of £139 million per day.
This means that households in the UK would have paid an average of £1,873 in annual interest repayments. Per person that’s £1,001 – 3.79% of average earnings.
Outstanding consumer credit lending was £192.19 billion at the end of November 2016.
Mortgages, rent and housing
Outstanding mortgage lending stood at £1.319 trillion at the end of November.
This is up from £1.282 trillion a year earlier.
That means that the estimated average outstanding mortgage for the 11.1m households with mortgage debt was £119,117 in November.
According to the Council of Mortgage Lenders, gross mortgage lending in November totaled an estimated £21 billion.
This is up 3% on November 2015, and up 3% from October.
Savings and Pensions
In Q3 2016, households saved an average of 5.6% of their post-tax income, including benefits, over the full year of 2015 this was 6.6%.
The Pensions Regulator estimates that at least 7,050 million employees had joined a pension scheme under auto-enrollment by the end of November 2016.
At the end of May 2016, there were 12.95 million claimants of State Pension, a rise of 5,000 on six months earlier. 43% of claimants were male and 57% female.
Spending and Loans
Data from LINK shows that, on average, 101 cash machine transactions (including balance enquiries and rejected transactions) were made every second in November 2016;
In total, cash machine transactions were worth an average of £4,123 per second.
LINK’s transaction figures do not include transactions or withdrawals made by customers at their own bank’s or building societies’ ATMs.
The average interest rate on credit card lending bearing interest was 18.36% in November. This is 18.11% above the Bank of England Base Rate (0.25%).
The average APR for a £5,000 personal loan is 9.07%, according to the Bank of England. For a £10,000 loan it’s 3.76%, while the average rate for an overdraft is 19.71%.
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