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The "Financial Health Report: Affordability and Forbearance Subgroup" provides an in-depth analysis of the financial landscape in the UK following the cost-of-living crisis. It focuses on key trends in mortgage affordability, debt burdens, and financial resilience across different demographics. The report highlights the financial pressures faced by UK consumers, particularly in areas such as mortgages, energy costs, and personal debt, while also addressing gender disparities in debt repayment and savings. It aims to guide financial institutions in making smarter, data-driven decisions to support consumer financial health.
Key Take Aways
Mortgage affordability crisis: 1.4 million people are facing a 50% increase in their mortgage payments, exacerbating affordability concerns.
Energy and personal debt pressures: Energy costs have risen by 28%, and personal debt has increased by 4%, further straining household budgets.
Decline in disposable income: UK consumers have ex...
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