DUNDONIANS ARE mortgaged to the tune of around £2.5 billion, according to new figures from a money education charity.

The Credit Action statistics show that mortgages in the UK passed through the £1 trillion mark last month with secured lending on homes up almost 11% in comparison with last year.

Scotland’s share of that mortgage debt stands at about £83 billion. Perth is understood to have mortgage debt of £2.1 billion, Angus £1.8 billion and Fife £5.8 billion.

Credit Action also says that personal debt is continuing to rise sharply with a growth rate of 10.2%—or an increase of £100 billion—in the year to May.

The figure now stands at £1191 billion—the equivalent of about £20,000 for every man, woman and child in Dundee.

Average household debt in the UK, excluding mortgages, is about £7750. When mortgages are added, that rises to £48,209.

Each UK adult is reckoned to owe, including mortgages, approximately £25,545.

Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans had risen to £4109 per UK adult by the end of April.