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December Money Statistics PDF Print E-mail
Wednesday, 13 December 2017
Striking numbers  

0.5%: The Bank of England Base Rate in November 2017
-0.6%: The fall in house prices in the three months to November
£1.87bn: The amount spent every day on debt and credit cards in September
2.5%: The rise in house prices in the year to November, according to Nationwide
£32,220: The average student debt for those most recently entering repayment
21: Properties repossessed every day in Q3
1%: The rise in inflation for food and non-alcoholic beverages over the month
4,322: The number of debt problems dealt with by Citizens Advice Bureau in October
£14.7m: The average amount borrowed per day by the government in October

Everyday in the UK

The number of mortgages with arrears of over 2.5% of the remaining balance fell by 6 a day in October
277 people a day are declared insolvent or bankrupt. This is equivalent to one person every 5 minutes 12 seconds
Borrowers would repay £136 million a day in interest over a year, based on October trends
Net lending to individuals in the UK increased by £154.8 million a day

Personal debt in the UK

People in the UK owed £1.562 trillion at the end of October 2017. This is up from £1.504 trillion at the end of October 2016 – an extra £1,106.13 per UK adult.
Per adult in the UK that’s an average debt of £30,176 in October – around 113.7% of average earnings. This is slightly up from a revised £30,096 a month earlier.
Outstanding consumer credit lending was £205.3 billion at the end of October 2017.
Citizens Advice Bureaux across England and Wales dealt with 522,494 issues in October 2017.
Debt was the second largest advice category (behind benefits and tax credits) with 133,997 issues. This is up 12% on the same month last year. Debt issues represented 26.5% of all problems dealt with over the period.

Mortgages, rent and housing

The average mortgage interest rate was 2.5% at the end of October. Based on this, households with mortgages would pay an average of £3,056 in mortgage interest over the year.
Halifax estimate that house prices fell by 0.6% compared to the three month leading to November 2017, but up 4.5% on 12 months ago.
According to the Council of Mortgage Lenders (CML), the typical first-time buyer deposit in September was 17.3% (around £31,236) – 118% of an average salary.

Savings and Pensions

8.833 million employees had joined a pension scheme under auto-enrolment by the end of October.

The average interest rate for an instant access savings account – not including bonus interest payments – was 0.09% in October. For a cash ISA, this was 0.27%.

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 8.11%, according to the Bank of England. For a £10,000 loan it’s 3.73%, while the average rate for an overdraft is 19.72%
An average of £22,377 was spent every second using debit and credit cards in September

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 1.42 million (4.3%), down by 59,000 from the previous three months and by 182,00 from a year earlier. This totals 499 less unemployed individuals a day.
102,000 people (1,109 a day) reported they had become redundant over the three months, a slight dip of 5,000 on the previous quarter

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