Over 30s in the most debt
(23 April 2007)

No demographic in Britain is more in debt than people in their early 30s, according to new research.

In comparison, UK residents aged between 18 and 30 are "much less reliant" on credit but still find it more difficult to buy their first home, Alliance and Leicester says.

The mortgage lender claims that 30-something Britons have unparalleled high borrowing levels and are the most likely to miss repayments.

This 'Friends' generation spends a higher proportion of its money on paying interest than anyone else in the country, with the average unsecured debt of £5,863 almost a third above the national average.

But Alliance and Leicester admits the figures reflect the costs of setting up a home, with the majority of people in their early 30s settling down with a partner.

"The early 30s are a transitional age where careers are taking off and before family responsibilities kick in," said the financial provider's director of retail banking Chris Rhodes.

"Many are buying their first homes at this point, but are also enjoying rapidly rising salaries and are keen to enjoy life to the full. Some, particularly those not trying to get on the housing ladder, may find themselves in financial difficulty as a result living beyond their means."