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The Money Statistics November 2017 PDF Print E-mail
Wednesday, 08 November 2017
Striking numbers  
0.5%: The Bank of England Base Rate in November 2017
£57,490: The average total debt per household (including mortgages)
0.4%: The UK economy growth in Q3 2017
2.5%: The rise in house prices in the year to October, according to Nationwide
35%: The percentage of households with no savings whatsoever
£38bn: The yearly increase in outstanding mortgage lending
1.31%: The yearly decrease on APR on a £5,000 personal loan
£290.10: Increase per adult in consumer credit lending since last year
£8.2m: The average amount borrowed per day by the government in September

Everyday in the UK
Citizen's Advice Bureaux in England and Wales dealt with 3,828 new debt problems every day during September 2017
The Government debt grew by £8.2m a day during September 2017 (£95 per second).
Borrowers would repay £137 million a day in interest over a year, based on September 2017 trends
Net lending to individuals in the UK increased by £158 million a day

Personal debt in the UK
People in the UK owed £1.557 trillion at the end of September 2017. This is up from £1.505 trillion at the end of September 2016 – an extra £1,030.47 per UK adult.
Per adult in the UK that’s an average debt of £30,096 in September – around 113.8% of average earnings. This is slightly up from a revised £30,012 a month earlier.
Outstanding consumer credit lending was £204.232 billion at the end of September 2017.
Citizens Advice Bureaux across England and Wales dealt with 460,048 issues in September 2017.
Debt was the second largest advice category (behind benefits and tax credits) with 118,658 issues. This is down 6% on the same month last year. Debt issues represented 26% of all problems dealt with over the period.

Mortgages, rent and housing
The average mortgage interest rate was 2.52% at the end of September. Based on this, households with mortgages would pay an average of £3,073 in mortgage interest over the year.
Halifax estimate that house prices rose by 0.3% during October 2017, up 4.5% on 12 months ago.
According to the Council of Mortgage Lenders (CML), the typical first-time buyer deposit in August was 17.5% (around £29,241) – 111% of an average salary.

Savings and Pensions
9.45 million (35%) of households have no savings, while a further 2.97 million (11%) have under £1,500. 68% have less than £10,000 in savings.
The average interest rate for an instant access savings account – not including bonus interest payments – was 0.11% in September. For a cash ISA, this was 0.29%.

Spending and Loans
Data from LINK shows that, on average, 98 cash machine transactions (including balance enquiries and rejected transactions) were made every second in September 2017
The average APR for a £5,000 personal loan is 8.2%, according to the Bank of England. For a £10,000 loan it’s 3.74%, while the average rate for an overdraft is 19.72%
British Bankers Association figures show that 55.% of credit card balances were bearing interest in Q2 2017

The bigger picture
The UK economy grew by 0.4% in the third quarter of 2017, according to latest estimates from the ONS
The number of people classed as unemployed between May to July was 1.44 million (4.3%), down by 52,000 from the previous three months and by 215,00 from a year earlier. This totals 589 less unemployed individuals a day.
107,000 people (1,163 a day) reported they had become redundant over the three months, little changed from the previous quarter
 

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