UK Personal Debt Statistics February 2014

February 12, 2014 No Comments

Outstanding personal debt stood at £1.435 trillion at the end of December 2013. This is up from £1.424 trillion at the end of December 2012.

Outstanding secured (mortgage) lending stood at £1.277 trillion at the end of December 2013. This is up from £1.267 trillion at the end of December 2012.

Outstanding unsecured (consumer credit) lending stood at £158.1 billion at the end of December 2013. This is up from £156.9 billion at the end of December 2012.

Average household debt in the UK (excluding mortgages) was £5,989 in December. This is down from a revised £6,009 in November.

Average household debt in the UK (including mortgages) was £54,332 in December. This is up from a revised £54,287 in November.

The average amount owed per UK adult (including mortgages) was £28,599 in December. This is up from a revised £28,576 in November 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 £3,152 in December. This is down from a revised £3,163 in November.

The estimated average outstanding mortgage for the 11.2m households that carry mortgage debt stood at £113,932 in December.

Based on December 2013 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £59.1 billion. This is equivalent to £162 million per day. This means that UK households would have paid an average of £2,239 in annual interest repayments.

Total net lending to individuals by UK Banks and Building Societies rose by £2.3 billion in December 2013. Net secured lending rose by £1.7 billion in the month; net consumer credit lending rose by £0.6 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 £11.0 million.

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.

It costs an average of £29.65 per day to raise a child from birth to the age of 21.
79 properties are repossessed every day (based on Q3 2013 trends).
 
The number of people unemployed for over 12 months during the year ending November 2013 fell by 145 per day.
 
1,227 people a day reported they had become redundant between September to November 2013.
 
Public Sector Net Borrowing (excluding financial interventions) was £12,089 million in December 2013, meaning that the Government borrowed an average of £403 million per day during the month (equivalent to £4,664 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.
 
30.7 million plastic card purchase transactions were made every day in November 2013 with a total value of £1.487 billion.
 
8.54 million cash machine transactions were made every day in December with a total value of £370 million.
 
A new car in the £13,000 – £18,000 price bracket travelling 10,000 miles per year costs £16.23 per day to run.
 
It cost £65.25 to fill a 50 litre tank with unleaded petrol in January.