UK Personal Debt Statistics - December 2013

UK Personal Debt

Outstanding personal debt stood at £1.430 trillion at the end of October 2013. This is up from £1.421 trillion at the end of October 2012.

Outstanding secured (mortgage) lending stood at £1.271 trillion at the end of October 2013. This is up from £1.265 trillion at the end of October 2012.

Outstanding unsecured (consumer credit) lending stood at £158.6 billion at the end of October 2013. This is up from £156.5 billion at the end of October 2012.

Average household debt in the UK (excluding mortgages) was £6,004 in October. This is down from a revised £6,010 in September.

Average household debt in the UK (including mortgages) was £54,124 in October. This is up from a revised £54,066 in September.

The average amount owed per UK adult (including mortgages) was £28,489 in October. This is up from a revised £28,459 in September and was around 115% of average earnings.

Average consumer borrowing (including credit cards, motor and retail finance deals, overdrafts and unsecured loans) per UK adult was £3,160 in October. This is down from a revised £3,164 in September.

The estimated average outstanding mortgage for the 11.2m households that carry mortgage debt stood at £113,404 in October.

Based on October 2013 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £59.2 billion. This is equivalent to £162 million per day. This means that UK households would have paid an average of £2,243 in annual interest repayments.

Total net lending to individuals by UK Banks and Building Societies rose by £1.7 billion in October 2013. Net secured lending rose by £1.2 billion in the month; net consumer credit lending rose by £0.5 billion.

UK Banks and Building Societies wrote-off £3.63 billion of loans to individuals over the four quarters to Q3 2013. In Q3 2013 itself they wrote-off £1,008 million (of which £397 million was credit card debt) amounting to a daily write-off of £11.0m.

 

Everyday in the UK

285 people are declared insolvent or bankrupt every day (based on Q3 2013 trends). This is equivalent to one person every 5 minutes 3 seconds.
 
1,655 Consumer County Court Judgements (CCJs) are issued every day (based on Q3 2013 trends). The average value of a Consumer CCJ in Q3 2013 was £2,383.
 
79 properties are repossessed every day (based on Q3 2013 trends).
 
An additional 11 people a day became unemployed for over 12 months during the year ending September 2013.
 
1,359 people a day reported they had become redundant between July and September 2013.
 
Public Sector Net Borrowing (excluding financial interventions) was £8,078 million in October 2013, meaning that the Government borrowed an average of £269 million per day during the month (equivalent to £3,117 per second).
 
156 mortgage possession claims are issued and 106 mortgage possession orders are made every day.
 
488 landlord possession claims are issued and 340 landlord possession orders are made every day.
 
31.7 million plastic card purchase transactions were made every day in September 2013 with a total value of £1.527 billion.

8.88 million cash machine transactions were made every day in October with a total value of £350 million.

It cost £65.23 to fill a 50 litre tank with unleaded petrol in November.

 

Stats provided by credit action


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