UK household debts excluding mortgage rose to £119bn

Debts excluding mortgages are on the rise in the UK, according to the Office for National Statistics.

Debts including credit card debt and personal loans rose 11% to £119bn in the two years to March 2018, according to the ONS study, which is published every two years.

Average household financial debt rose 9% to £9,400.

Debt graphic

Much of the increase is a result of higher student loan and hire purchase debt.

“The figures are skewed slightly by the £32bn of student debts – which the vast majority of graduates will never pay back in full,” said Sarah Coles, personal finance analyst at stockbroker Hargreaves Lansdown.

“However, even excluding that we’re carrying £87bn in loans, credit cards, hire purchase agreements, overdrafts and arrears.”

Source: BBC News

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I am a Property/Energy Consultant TA DenEco Consultancy - www.deneco.co.uk: A friendly, energetic and adaptable individual with keen interest and aptitude for learning and motivating others, with great academic skills and work experience in both Life science and Environmental Management, seeking an opportunity to use his proven flair for teamwork and creativity in Property Purchase, Energy Efficiency, Environmental management for sustainable development and growth in any related sector or industry. I help individuals, businesses, SMEs and corporate clients save or make money in regards to Property investment, energy efficiency, environmental management solutions. The foundation of my experience is environmental protection. I have a passion for helping people, businesses and corporate organization achieve their dream through Property Investment and become more efficient and effective in their energy, and environmental management. I get satisfaction from knowing that the work am doing is helping make/save money and the environment.  Contact us @ www.deneco.co.uk Outside of work you can find me spending time with family, studying and researching for new opportunities and continuous development. Specialties: Property Investment, EPC provider, Energy Efficiency, Environmental  management.

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