Over 30s have highest amount of debt

In the latest findings from its ‘Borrowing Monitor’ research, Alliance & Leicester says the ‘Friends’ generation – those in their early 30s – have the highest mortgage exposure and have average unsecured debts totalling around £5,863, 29% above the national average. Although the firm points out as people tend to settle down and buy a home around this age, the high levels of borrowing could reflect the costs of setting up home, as 66% of those surveyed live with a partner and 63% are homeowners, figures well above respondents aged under 30. In addition, Alliance & Leicester points out th...