Number of UK households with large debts rises by a third

Almost 10% of households reported that loan and interest repayments were a heavy financial burden, a 35% increase on the previous year Photograph: Andrew Aitchison/Alamy

The number of UK households struggling with large debts increased by a third in 2021, even before the winter rise in energy prices and the removal of the £20 uplift in universal credit payments, research suggests.

Analysis of Bank of England research carried out by the Jubilee Debt Campaign found that in September 2021 almost 10% of households reported that loan and interest repayments were a heavy financial burden, a 35% increase on the previous year’s figures.