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The Money Statistics August 2017 PDF Print E-mail
Tuesday, 08 August 2017
Striking numbers  
£200.882 billion: The level of unsecured debt in the UK, the highest since 2008
£7,413: The amount the average household owes in unsecured debt
£68.5 billion: The amount people owe on their credit cards
£1.344 trillion: The level of secured debt in the UK, the highest it has ever been
£1.754 trillion: Public sector net debt (excluding banks)
£1.545 trillion: Total private debt in the UK, which has never been higher
9.45 million: The number of people in the UK who have no savings
3.76%: The average interest on a £10k loan
2.57%: The average mortgage interest

Everyday in the UK
248 people a day are declared insolvent or bankrupt. This is equivalent to one person every 6 minutes 13 seconds
1,054 people a day reported they had become redundant between March and May
Net lending to individuals in the UK increased by £173 million a day
Borrowers would repay £137 million a day in interest over a year, based on June 2017 trends

Personal debt in the UK
The average total debt per household – including mortgages – was £57,005 in June. The revised figure for May was £56,791
Based on June 2017 trends, the UK's total interest repayments on personal debt over a 12 month period would have been £50.149 billion
According to the Office for Budget Responsibility’s March 2017 forecast, household debt is predicted to reach £2.322 trillion in Q1 2022.
Average consumer credit borrowing stood at £3,880 per UK adult. This is up from a revised £3,860 in May

Mortgages, rent and housing
The average mortgage interest rate was 2.57% at the end of June. Based on this, households with mortgages would pay an average of £3,112 in mortgage interest over the year
According to the Council of Mortgage Lenders, gross mortgage lending in June totaled an estimated £22.1 billion
This is 9% up on June 2016, and up an 3% rise from May
Halifax said that average house prices fell by £2,125 in June 2017. This is a monthly fall of 1%; prices fell by 0.1% over the quarter but rose by 2.6% over the year

Savings and Pensions
The Pensions Regulator estimates that at least 8.165 million employees had joined a pension scheme under auto-enrollment by the end of June 2017
The Annual Survey of Hours and Earnings reports that 59.2% of employees were receiving an employer contribution to their pension
At the end of November 2016, there were 13 million claimants of State Pension, a fall of 41,000 on a year earlier. 43% of claimants were male and 57% female

Spending and Loans
During May 2017 an average of 535 purchases were made in the UK every second using debit and credit cards, based on figures from the UK Cards Association In Q1 2017, households in the UK spent £92m a day on water, electricity and gas – or £3.40 per household per day
In June 2017 the average price of unleaded petrol fell by 0.1 ppl (pence per litre) to 116.4ppl
This meant it cost £58.20 to fill a 50 litre unleaded tank.

The bigger picture
In the three months to May 2017 pay including bonuses was up by 1.8% from a year ago, and pay excluding bonuses also rose by 2%. Average weekly pay was £502, or £472 excluding bonuses – an annual salary of £26,228, or £24,664 without bonuses
Public Sector Net Borrowing (excluding public sector banks) was £6.9bn in June 2017, meaning that the Government spent an average of £230m per day more than it spent during the month (equivalent to £2,662 per second)
Based on the latest figures, 3.388m people in work would pay no income tax
 
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