We have been producing our must read summary of the debt situation in the UK since 2005. The latest UK debt statistics from the Money Charity can be found below. And you can find the archive here.
Debt Statistics July 2014
£54,701 was the average household debt (including mortgages) in May
£160 million was the daily amount of interest paid on personal debt in May
6,519 debt problems were dealt with by the CAB each working day over the year to March
1,348 people were made redundant every day between February and April
791,000 people had been unemployed for over a year between February and April
£7.3 million of loans are written off daily by UK Banks and Building Societies (based on Q1 2014 trends)
Every 20 min 15 sec a property is repossessed (based on Q1 2014 trends)
Every 5 min 12 sec someone is declared insolvent or bankrupt (based on Q1 2014 trends)
£1.557 billion was the daily value of all purchases made using plastic cards in April
UK Personal Debt
Outstanding personal debt stood at £1.445 trillion at the end of May 2014. This is up from £1.425 trillion at the end of May 2013.
Outstanding secured (mortgage) lending stood at £1.284 trillion at the end of May. This is up from £1.269 trillion at the end of May 2013.
Outstanding unsecured (consumer credit) lending stood at £160.6 billion at the end of May 2014. This is up from £156.4 billion at the end of May 2013.
Average household debt in the UK (excluding mortgages) was £6,080 in May. This is up from a revised £6,064 in April.
Average household debt in the UK (including mortgages) was£54,701 in May. This is up from a revised£54,631 in April.
The average amount owed per UK adult (including mortgages) was £28,610 in May. This 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 £3,180 in May.
The estimated average outstanding mortgage for the 11.2m households that carry mortgage debt stood at £115,006 in May.
Based on May 2014 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £58.6 billion. This is equivalent to £160 million per day. This means that UK households would have paid an average of £2,218 in annual interest repayments.
The Office for Budget Responsibility (OBR) predicted in March 2014 that total household debt will reach £2.251 trillion in Q1 2019. This would mean that average household debt would reach £85,220 (assuming that the number of households in the UK remained the same between now and Q1 2019).
Total net lending to individuals by UK Banks and Building Societies rose by £2.7 billion in May 2014. Net secured lending rose by £2.0 billion in the month; net consumer credit lending rose by £0.7 billion.
UK Banks and Building Societies wrote-off £3.42 billion of loans to individuals over the four quarters to Q1 2014. In Q1 2014 itself they wrote-off £669 million (of which £319 million was credit card debt) amounting to a daily write-off of £7.3 million.
Everyday in the UK
277 people are declared insolvent or bankrupt every day (based on Q1 2014 trends). This is equivalent to one person every 5 minutes 12 seconds.
1,910 Consumer County Court Judgements (CCJs) are issued every day (based on Q1 2014 trends). The average value of a Consumer CCJ in Q1 2014 was £2,360.
Citizens Advice Bureaux in England and Wales dealt with 6,519 new debt problems every working day during the year ending March 2014.
It costs an average of £29.65 per day to raise a child from birth to the age of 21.
71 properties are repossessed every day (based on Q1 2014 trends).
The number of people unemployed for over 12 months during the year ending April 2014 fell by 296 per day.
1,348 people a day reported they had become redundant between February and April.
Public Sector Net Borrowing (excluding financial interventions) was £13,339 million in May 2014, meaning that the Government borrowed an average of £430 million per day during the month (equivalent to £4,980 per second).
141 mortgage possession claims are issued and 99 mortgage possession orders are made every day.
525 landlord possession claims are issued and 373 landlord possession orders are made every day.
The UK population grew by 1,114 people a day between 2001 and 2011.
32.6 million plastic card purchase transactions were made every day in April 2014 with a total value of £1.557 billion.
9.11m cash machine transactions were made every day in May with a total value of £374m.
A new car in the £13,000 – £18,000 price bracket travelling 10,000 miles per year costs £14.04 per day to run.
It cost £65.24 to fill a 50 litre tank with unleaded petrol in June.