In our inaugural financial health report last year, Equifax, in collaboration with TDX Group, the Centre of Social Justice (CSJ), Policy in Practice, and the Vulnerability Registration Service (VRS), provided a comprehensive overview of the nation’s financial well‑being.
This report offered insights into the impact of the cost of living crisis on consumers and the evolving debt landscape. Notably, it highlighted how younger demographics, facing higher essential living costs and lower financial resilience, were particularly affected.
Looking ahead to 2023, we anticipated a further decline in households’ disposable income, leading to more individuals struggling to meet financial commitments, including telecoms and loan repayments. Additionally, we foresaw an increase in mortgage arrears, driven by the transition of 1.4 million consumers from low fixed-rate mortgages.
Our 2024 report delves deeper into the aftermath of the cost of living crisis and the resilience of consumers amidst the mortgage shock. Through the lens of our clients, partners, and industry experts, we explore the human stories behind the statistics, shedding light on the path to financial recovery in the UK.
Financial Health.
It’s in our DNA.
Download our latest report and learn more about the human stories behind the statistics, shedding light on the path to financial recovery in the UK.
