The Bank of England has released a report on UK debt…

The average UK adult is £30,575 in debt – and that’s without student loans.

When you borrow money, it can either be secured or unsecured debt. The main difference is that a secured loan means you borrow against an asset such as a house. So if you get a mortgage, the bank will own a part of your house until you’ve paid it off. The part you own is called equity. If you can’t pay back what you owe, the bank can repossess your house. Read the rest of the article by clicking here…