Young homeowners in more debt than tenants in UK

Young homeowners in the UK whose debts have become unmanageable owe more than £20,000 in unsecured debt, nearly twice as much as those who are still renting, figures showed today.

Debt charity the Consumer Credit Counselling Service (CCCS) said the average person aged under 24 who was on one of its debt management plans owed £16,351 (€11,114.63 ) during the second quarter of the year.