Published by: Equifax Limited
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Key Take Aways
The UK’s financial health in 2025 is shaped by ongoing economic headwinds, with consumers exhibiting resilience despite elevated debt levels and rising living costs.
Full year mortgage originations in 2024 remain 24% below 2022 levels, highlighting persistent recovery challenges within the housing market.
Consumer credit behaviour demonstrates increased confidence, with credit card activity surpassing pre-pandemic levels and a notable shift towards higher debt levels.
Consumers are increasingly extending mortgage terms (up to 35+ years), reflecting a strategic adaptation to affordability constraints amidst rising interest rates.
The credit card market is growing, with outstanding debts exceeding £70 billion, and consumers managing their credit responsibly, as reflected in reduced arrears levels.
Buy Now Pay Later (BNPL) continues its significant role, with 36% of consumers using BNPL in 2024 and an ...
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