The early 30s age bracket has the highest level of borrowing and, as a result, it means those within it are also most likely to miss out on repayments.

Mortgage costs, coupled with further unsecured borrowing, is leaving them exposed, the study shows.

Chris Rhodes, director of retail banking at Alliance & Leicester, highlighted the early 30s as “a transitional age”, a key factor explaining their debt problems.

“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,” he commented.

“Some, particularly those not trying to get on the housing ladder, may find themselves in financial difficulty as a result of living beyond their means.”

A further financial constraint identified was the paying back of student loans, but Mr Rhodes insisted that the majority of other Britons were borrowing within their means.

Debt problems chiefly arrive, he added, “when borrowing becomes a lifestyle in its own right”.

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