Do you know how much you can borrow on a mortgage? Take this quiz to find out

Marc Astley
Authored by Marc Astley
Posted: Monday, January 13, 2020 - 09:59

We all know how important knowledge is, but how clued up is the average Brit? With an endless array of technical jargon to get our heads around, Vanquis Bank https://www.vanquis.co.uk surveyed 2,000 people from across the UK and asked them 10 financial questions, covering everything from Direct Debits, VAT, mortgages and National Insurance.

  • The average score on the quiz was 3 out of 10, with 95% of the people surveyed scoring 5 or less.

 

  • Mortgages and National Insurance were the areas which caused the most confusion, with just 5% of people knowing how much they could borrow on a mortgage, and 9.7% knowing what their National Insurance rates were.

 

  • Bristol achieved the best score with an average of 3/10, and 20% achieving 5 or more correct answers

Take the quiz, and see how financially clued up you are: https://www.vanquis.co.uk/finance-quiz

Photo by Maria Ziegler on Unsplash

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