By Tom Philips at January 7, 2025

60+ of the Best UK Personal Finance Statistics for 2025

With economic and geopolitical uncertainty rife, it’s easy to get confused and overwhelmed when it comes to your financial outlook.

That’s why it’s more important than ever to seek out the facts and statistics, so that you can make informed decisions that work in your favour.

Our team at Equity Release Warehouse have found 60+ of the best UK personal finance statistics for 2025, including statistics on savings, equity release and budgeting, investments and debt, as well as statistics on UK inflation and employment.

Now for the statistics:

1. Savings and Budgeting Statistics

UK savings and budgeting statistics reveal widespread financial strain, with many lacking savings and struggling with costs:

Approximately 11 million UK adults of working age have less than £1,000 in savings. Source: NatWest, 2024 [1].
In fact, 53% of UK adults do not have a savings goal at all. Source: NatWest, 2024 [1].
Approximately 6 in 10 adults are spending less on non-essentials because of the cost of living increases. Source: Office for National Statistics, 2024 [2].
29% of UK adults said they would not be able to afford an unexpected expense of £850 or more. Source: Office for National Statistics, 2024 [2].
A quarter of UK adults have savings of less than £100. Source: BBC [3].
Approximately one third (31%) of savers never compare the rate on their savings accounts. Source: BSA, 2024 [4].
Those aged 65 or over, who hold the most savings in their current accounts are missing out on the most interest each year. Source: BSA, 2024 [4].
18-24 years are losing almost £400 (£382) of free money in interest each year. Source: BSA, 2024 [4].
More and more people are keeping their savings in their current accounts. In fact, 47% of 18-24 year olds do this, compared to one in five (21%) 55-64 year olds Source: BSA, 2024 [4].
When it comes to children and savings habits, 79% of children save at least some of their pocket money, and 12% save it all. Source: Statista [5].
43% of those in households earning less than £25,000 a year (full time minimum wage) described their finances as tight, struggling or in trouble. Source: Mintel, 2024 [6].
37% of those earning minimum wage are feeling worse off than the previous year. Source: Mintel, 2024 [6].
In October 2024, 56% of Brits still thought the cost of living crisis wasn’t getting any better. Source: Mintel, 2024 [6].
Over 50% of all brits are concerned about paying their energy bills this winter Source: Mintel, 2024 [6].

2. Investments and Wealth-Building Statistics

UK investment trends show growth in mortgage applications, business spending, pensions, and crypto adoption in 2025:

In Q2 of 2024, the UK experienced a surge in mortgage applications. Source: UK Finance, 2024 [7].
UK business investment increased by 1.9% in Q3 of 2024 (July to September. Source: ONS, 2024 [8].
UK GFCF is 3.9% above where it was in 2023. Source: ONS, 2024 [8].
Government investment increased by 4.2% in Q3 of 2024. Source: ONS, 2024 [8].
The number of first time buyers increased by 19% in 2024. The number of movers (those moving home) also rose by 15%. Source: UK Finance, 2024 [7].
Hargreaves Lansdown reported a 40% jump in net new business, with their average age of investors dropping from 54 to 47 years old. Source: Financial Times. [9].
Armchair retail trading is on the rise, with more and more people downloading trading apps than ever before. Source: House of Commons Library [10].
Despite growth in mortgage lending in 2024, the number of mortgages taken out still sits well below the ‘normal level’ and is currently still 16% lower than levels seen in 2022. Source: UK Finance, 2024 [7].
80% of all employees across the UK have opted into a workplace pension. Source: GOV.UK, 2024 [11].
10% of all mortgage borrowers have an interest-only mortgage. Source: UK Finance, 2024 [7].
A large percentage (41%, in fact) of those with an interest-only mortgage are aged between 55 and 65 years old. In addition to this, 15% are aged 65 or over. Source: UK Finance, 2024 [7].
In 2024, 12% of UK adults now owned crypto, up from 10% in previous years. Source: Financial Conduct Authority, 2024 [12].
In addition to this, awareness of crypto currency as a form of investment also rose from 91% to 93%. Source: Financial Conduct Authority, 2024 [12].
A significant number of people who invest in crypto do a lot of research before doing so. In fact, only 1 in 10 people say they did not do any research before buying crypto. Source: Financial Conduct Authority, 2024 [12].
The number of crypto users across the UK is anticipated to reach 23.95 million users by 2025. Source: Statista, 2024 [13].
User penetration across the crypto market is anticipated to reach 35.12% in 2025 and is expected to increase to 35.12% by the end of 2025. Source: Statista, 2024 [13].
20% of people who invest in crypto do so because they were influenced by friends and family. Source. Financial Conduct Authority, 2024 [14].

3. Debt and Borrowing Statistics

Rising debt and borrowing concerns affect UK households, with more turning to credit, loans, and equity release:

14% of adults who are suffering from the cost of living are using credit (or loans) more than usual. Source: House of Commons Library, 2024 [15].
Those aged between 25 and 44 years of age are most likely to hold consumer credit. Source: House of Commons Library, 2024 [15].
In fact, 80% of 25-34 year olds have some form of debt. Source: House of Commons Library, 2024 [15].
20% of households who fall into the bottom 40% of all income admitted to taking out a loan or or using a credit card to pay for essentials such as rent, energy or council tax in the last two years. Source: House of Commons Library, 2024 [16].
Approximately 1.6 million households finished their fixed mortgage rate in 2024 and will subsequently face higher interest rates in 2025. Source: UK Finance, 2024 [17].
47,443 people approached Citizens Advice in April 2024 in search for help with debt advice, after a record 48,482 in January 2024. Source: Citizens Advice, 2024 [18].
Additionally, StepChange reported that as of March 2024, they had 16,000 debt advice clients. Source: StepChange, 2024 [19].
StepChange also reported that 39% of their clients were receiving Universal Credit as of March 2024. This is a rise of 4% from March 2023. Source: StepChange, 2024 [19].
In March 2023, approximately 13% of the poorest 5th of families were rejected for credit. This compared to just 5% of the richest 5th of society. Source: Resolution Foundation, The impact of the cost of living crisis on household debt, 2024 [20].
The average 2-year fixed mortgage rate was 4.53% in November 2024, which is down by 0.75% from the same time last year. House of Commons Library, 2024 [21].
The average Standard Variable Rate (SVR) was 7.59% in November 2024, down by 0.41% from the same time last year. House of Commons Library, 2024 [21].
When it comes to student loans, 567,000 people are expected to take out loans in 2028 – 2029, up by 8% from 2022 to 2023. Source: GOV.UK. Student loan forecasts for England, 2024 [22].
The Government is expected to give out £24,580m in student loans between 2028 – 2029. This is up from £4,410m between 2023 and 2024. Source: GOV.UK. Student loan forecasts for England, 2024 [22].
50% of all students who started University in 2023 and 2024 are expected to repay their student loan within 31 years. Source: GOV.UK. Student loan forecasts for England, 2024 [22].
Over half (58%) of students questioned in an ONS survey stated that their loan did not cover living costs, with a further 25% agreeing that their loan only just covers their living costs. Source: ONS, 2023 [23].
In fact, 30% of students surveyed by the ONS said that they had to take on additional debt because their student loan simply did not cover their living costs. Source: ONS, 2023 [23].
According to the Equity Release Council, 14,216 people took out an equity release loan between January and March 2024, which is up 4% from Q4 in 2023. Source: Equity Release Council, 2024 [24].
When it comes to equity release across the UK, drawdown lifetime mortgages recently recorded their highest share of new customer activity. In fact, 56% of new customers opted for a drawdown plan in Q1 of 2024. Source: Equity Release Council, 2024 [24].
22% of all homeowners aged 45 or over would consider taking out an equity release loan in order to help them afford to retire. This interest increases to 34% when it comes to those aged 45 to 54 years of age. Source: Mintel, 2024 [25].
Home improvements were by far the main reason why people opted for an equity release loan, with 51% of customers taking out a lifetime mortgage in order to help to pay for home improvements around the house. Source: Legal and General, 2024 [26].

4. Economic Statistics

The UK economy faces evolving challenges, with inflation, employment, and energy prices fluctuating amidst ongoing adjustments:

The current Bank of England’s Base Rate sits at 4.75%, with the next revision and announcement in February 2025. Source: Bank of England, 2024 [31].
Current inflation sits at 2.6%, with a target of 2%. Source: Bank of England, 2024 [31].
CPI (consumer price index) inflation sat at 2.6% in November 2024, which was an increase from 2.3% in October 2024. Source: House of Commons Library, 2024 [27].
The employment rate sat at 74.98% in 2024, and as of October 2024, 33.8 million people were in employment. This was up 409,000 from the previous year. Source: House of Commons Library, 2024 [27].
Unemployment rates across the UK (for those aged 16 years or over) sat at an estimated 4.3% between July and September 2024, an increase from the previous year. Source: ONS, 2024 [28].
More and more people are out of work, with unemployment levels increasing by approximately 110,000 between 2023 and 2024. Source: House of Commons Library, 2024 [29].
Approximately 9.34 million people aged between 16 and 64 years old were economically inactive. Source: House of Commons Library, 2024 [29].
Electricity prices rose by 7.7% in October 2024, and gas prices also rose by 11.7% in October 2024. Source: ONS, 2024 [30].
The current budget deficit sat at an estimated 1.9% GDP in March 2024, a decrease of 1.3% from March 2023. Source: ONS, 2024 [30].

We hope you enjoyed reading these stats. For further guidance or advice and insights, including getting advice about equity release, please read on!

Speak to Equity Release Warehouse

If you are aged 55 or over and are currently stressed about your finances or simply looking for more income during your retirement, then you should consider taking out an equity release loan.

The best thing about equity release is that you do not have to repay a penny until after you pass away or move into a care home. Once you do so, your loved ones and next of kin(s) will then sell the house and use the proceeds from the sale to pay off the equity release loan in full.

Usually, they have approximately 6 – 12 months to do so. However, you will be charged interest on your equity release loan, which will compound year on year and will also need to be repaid once you sell your home.

If you are interested in taking out an equity release loan, then speak to a member of our team today by calling us on 0330 058 1579 or by visiting our website at www.equityreleasewarehouse.com.