The Money Statistics June 2018

Striking numbers
£0.99m: The decrease in net lending to individuals in the UK.
20: The amount in properties repossessed every day.
£77.44: The fall on last month in UK debt increases for each adult.
21%: The increase in debt issues reported by Citizens Advice on last year.
£29m: The fall in Public Sector Net Debt per day in 2018.
4.1p: The increase in unleaded and diesel petrol per litre on last month.
18.26%: The increase in the average interest rate on a credit card bearing interest.
34: The number of mortgage repossessions every day in Q1 2018.
0.2%: The decrease on house prices on last month according to Nationwide.

Everyday in the UK
Net lending to individuals in the UK decreased by £0.99m a day in April 2018.
Government debt fell by £29m a day during 2018.
LINK Cash machines were used an average of 90 a second across the UK.
304 people a day are declared insolvent or bankrupt. This is equivalent to one person every 4 minutes and 44 seconds.

Personal debt in the UK
People in the UK owed £1.539 trillion at the end of April 2018. This is up from £1.535 trillion at the end of April 2017– an extra £949.30 per UK adult.
Per adult in the UK that’s an average debt of £30,597 in April – around 113.9% of average earnings. This is slightly down from a revised £30,604 a month earlier.
Outstanding consumer credit lending was £210.6 billion at the end of April 2018.
Citizens Advice Bureaux across England and Wales dealt with 505,512 issues in April 2017.
Debt was the second largest advice category (behind benefits and tax credits) with 126,429 issues. This is up 21% on the same month last year. Debt issues represented 25.5% of all problems dealt with over the period.

Mortgages, rent and housing
The average mortgage interest rate was 2.49% at the end of April. This stood at 2.05% for new loans. Based on this, households with mortgages would pay an average of £3,081 in mortgage interest over the year. New loans would attract an average of £2,860 in interest.
Halifax estimate that house prices rose by %.5% compared to last months estimate, up by 0.2% over the quarter and 1.9% annually. Nationwide estimate house prices fell by 0.2% in May, up 2.4% on 12 months ago.
According to UK Finance, the typical first-time buyer deposit in November was 16.6% (around £27,955) – 104% of an average salary.

Savings and Pensions
9.614 million employees had joined a pension scheme under auto-enrolment by the end of April 2018.
The average interest rate for an instant access savings account – not including bonus interest payments – was 0.19% in February. For a cash ISA, this was 0.68%.

Spending and Loans
Data from LINK shows that, on average, 90 cash machine transactions (including balance enquiries and rejected transactions) were made every second in April 2018.
In total, cash machine transactions were worth an average of £3,793 in April 2018.
The average APR for a £5,000 personal loan is 8.14%, according to the Bank of England. For a £10,000 loan it’s 3.81%, while the average rate for an overdraft is 18.26%.
It cost an average of £23.61 a day for a couple family to raise a child to the age of 18.
It cost an average of £28.48 a day for a lone parent family.

The bigger picture
The UK economy grew by 0.1% between January and March 2018, according to latest estimates from the ONS, the lowest growth since Q4 2012.
Public Sector Net Debt fell by £29 million during 2018.
97,000 people (1,054 a day) reported they had become redundant over the three months, a decrease of 5,000 on the previous quarter.

 

The Money Charity is the UK’s financial capability (financial education) charity. Our vision is that everyone has the ability to be on top of their money as a part of everyday life. We empower people across the UK to build the skills, knowledge, attitudes and behaviours to make the most of their money throughout their lives.