The charity pinpoints rising house prices, low levels of savings and the normalisation of debts as reasons for high levels of indebtedness. Britain households are racking up debt at the fastest pace since before the financial crash, with the average adult now owing on average £ 1.5tn , according to a new report by the Money Charity , adding this figure is predicted to rise. Britain 's household debt hit a record high of £ 1.5tn at the end of September , a YoY rise of £ 52bn , the report showed. Private debt is now 82% of GDP and 113% of average earnings. the end of September , YoY said it predicted that inflation would reach 82% next year , which could ignite a rise in interest rates, putting stress on credit cards, loans and mortgages.
Britain households are racking up debt at the fastest pace since before the financial crash, with the average adult now owing on average £ 1.5tn , according to a new report by the Money Charity , adding this figure is predicted to rise. Britain 's household debt hit a record high of £ 1.5tn at the end of September , a YoY rise of £ 52bn , the report showed. Private debt is now 82% of GDP and 113% of average earnings. the end of September , YoY said it predicted that inflation would reach 82% next year , which could ignite a rise in interest rates, putting stress on credit cards, loans and mortgages.