The refinancing of the $12 billion in existing debt would stretch the repayment from an average of 13 years left on the old notes to 30 years for the new notes.
By contrast, during the past year mortgage repayments fell by an average of £58.
On average, those on middle-incomes of between £21,000 - £35,000 will pay an average of £6,000 extra in repayment costs according to the Government's own assessment.
Having it set up to cover the minimum repayment each month will mean you avoid late payment charges costing an average of £12, but at the same time, relying on only the minimum repayments is expensive.
This is equivalent to £164m per day and means that UK households already have to find an average of £2,267 in annual interest repayments in addition to the expected seasonal bill.
According to a 2012 analysis, the average declared monthly income of self-employed Greek medical workers was sixteen hundred and twenty-eight euros; those workers spent an average of sixteen hundred and sixty euros on monthly debt repayments.
That, of course, is helping prices to rise, but it also means, Halifax reckons, that house-buyers are now spending an average of only 21% of their income on mortgage repayments, compared with 37% in the early 1990s.
Nationwide says that first-time buyers who are still entering the market are putting an average of 29% of their take-home pay towards mortgage repayments, compared with 40% before the financial crisis.
The anonymous data, spanning a period of 36 months, included monthly credit card information spending, repayments made, and outstanding account balances for a total of nearly 6,000 HelloWallet clients, with an average of 2.5 credit card accounts.
It said it would repay an average of £8.75 for cancelled direct debits, £25 where an administration fee had been charged for more than three bounced direct debits, and £37 for excessive early repayment charges.
