Warning as household debts rise to top £1.5 trillion – BBC News

After a period of flat growth, debt has begun to rise again in recent years.

The Money Charity, which compiled the statistics, says UK adults owe an average of nearly £30,000 each – mostly in mortgages, but also in loans and credit cards – 83% of the country’s annual economic output.

Some 87% of this debt is in the form of mortgages, secured by property.

But UK adults also now owe an average of £3,737 in loans and credit cards.

via Warning as household debts rise to top £1.5 trillion – BBC News

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