UK Personal Debt Statistics January 2014

January 7, 2014 No Comments

UK Personal Debt

  • Outstanding personal debt stood at £1.432 trillion at the end of November 2013. This is up from £1.420 trillion at the end of November 2012.
  • Outstanding secured (mortgage) lending stood at £1.273 trillion at the end of November 2013.This is up from £1.265 trillion at the end of November 2012.
  • Outstanding unsecured (consumer credit) lending stood at £158.9 billion at the end of November 2013. This is up from £156.0 billion at the end of November 2012.
  • Average household debt in the UK (excluding mortgages) was £6,016 in November. This is up from a revised £6,005 in October.
  • Average household debt in the UK (including mortgages) was £54,197 in November. This is up from a revised £54,128 in October.
  • The average amount owed per UK adult (including mortgages) was £28,528 in November. This is up from a revised £28,491 in October 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 £3,167 in November. This is up from a revised £3,161 in October.
  • The estimated average outstanding mortgage for the 11.2m households that carry mortgage debt stood at £113,549 in November.
  • Based on November 2013 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £59.4 billion. This is equivalent to £163 million per day. This means that UK households would have paid an average of £2,251 in annual interest repayments.
  • Total net lending to individuals by UK Banks and Building Societies rose by £1.5 billion in November 2013. Net secured lending rose by £0.9 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.
  • 79 properties are repossessed every day (based on Q3 2013 trends).
  • The number of people unemployed for over 12 months during the year ending October 2013 fell by 104 per day.
  • 1,315 people a day reported they had become redundant between August to October 2013.
  • Public Sector Net Borrowing (excluding financial interventions) was £16,505 million in November 2013, meaning that the Government borrowed an average of £550 million per day during the month (equivalent to £6,368 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.
  • 29.9 million plastic card purchase transactions were made every day in October 2013 with a total value of £1.479 billion.
  • 9.01 million cash machine transactions were made every day in November with a total value of £366 million.
  • It cost £65.60 to fill a 50 litre tank with unleaded petrol in December.

Statistics provided my creditaction.co.uk