Market Statistics-Nov 2019


Here is an overview of The Money Charity’s latest statistics for November 2019:


  • People in the UK owed £1,661 billion at the end of September 2019. This is up from £1,612 billion at the end of September 2018, an extra £930 per UK adult over the year.
  • The average total debt per household, including mortgages, was £59,823.
  • Per adult in the UK that’s an average debt of £31,485, around 111.4% of average earnings. This is up from a revised £31,407 a month earlier.


Spending and Loans

  • In the year to September 2019, consumer credit increased by 3.1% according to the Bank of England, while outstanding levels of credit card borrowing fell by 0.1%, a reversal pf the direction of change since 2018. This may be due to the FCA’s new rules on persistent credit card debt.
  • In Q2 2019, households in the UK spent £115.96 million a day on water, electricity and gas, or £4.18 per household per day. On a seasonally adjusted basis, this was 5.0% more than the revised figure for Q1 2019.
  • The average interest rate on credit card lending bearing interest was 20.03% in October 2019. This is 19.28% above the Bank of England Base Rate of 0.75%.


Financial Inclusion

  • According to the FCA, in the UK in 2017 there were 1.3 million people who did not have a bank account.
  • According to ONS, there were 11,065 bank and building society branches in the UK in 2018. This was a reduction of 2,280 branches (17%) since 2012.
  • According to the 2019 Access to Cash Review, 2.2 million people use only cash in their daily transactions.