The Money Statistics April 2013

54,017 was the average household debt (inc. mortgages) in February.

£166mn was the daily amount of interest paid on personal debt in February.

1454 people were made redundant every day between Nov and Jan.

887,000 people had been unemployed for over a year between Nov and Jan.

Every 17 mins and 7 secs a property is repossessed.

Every 5 mins 12 secs someone is declared insolvent or bankrupt.

UK Personal Debt

Outstanding personal debt stood at £1.424 trillion at the end of February 2013.

This is up from £1.408 trillion at the end of February 2012. At the end of February 2013, individuals owed nearly as much as the entire country produced during the whole of 2012.

Outstanding secured (mortgage) lending stood at £1.266 trillion at the end of February 2013. This is up from £1.249 trillion at the end of February 2012.

Outstanding unsecured (consumer credit) lending stood at £158 billion at the end of February 2013. This is down from £159 billion at the end of February 2012.

Average household debt in the UK (excluding mortgages) was £5,998 in February. This is up from a revised £5,992 in January.

Average household debt in the UK (including mortgages) was £54,017 in February. This is up from a revised £53,986 in January.

The average amount owed per UK adult (including mortgages) was £28,981 in February. This is up from a revised £28,965 in January, and was around 118% of average earnings.

Average consumer borrowing (including credit cards, motor and retail finance deals, overdrafts and unsecured loans) per UK adult was £3,218 in February. This is up from a revised £3,215 in January.

The estimated average outstanding mortgage for the 11.3m households that carry mortgage debt stood at £112,153 in February.

Based on February 2013 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £60.6 billion. This is equivalent to £166 million per day. This means that UK households would have paid an average of £2,299 in annual interest repayments.

The Office for Budget Responsibility (OBR) predicted in March 2013 that total household debt will reach £1.931 trillion in Q1 2018. This would mean that average household debt would reach £73,284 (assuming that the number of households in the UK remained the same between now and Q1 2018).

Net lending to individuals by UK Banks and Building Societies rose by £1.5 billion in total in February 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 £4.5 billion of loans to individuals over the 4 quarters to Q4 2012. In Q4 2012 itself they wrote-off £999 million (of which £469 million was credit card debt) amounting to a daily write-off of £10.92m.

Everyday in the UK

277 people are declared insolvent or bankrupt every day (based on Q4 2012 trends). This is equivalent to one person every 5 minutes 12 seconds.

1,374 Consumer County Court Judgements (CCJs) are issued every day (based on Q4 2012 trends). The average value of a Consumer CCJ in Q4 2012 was £2,615.

Citizens Advice Bureaux in England and Wales dealt with 8,192 new debt problems every working day during the year ending December 2012.

It costs an average of £29.02 per day to raise a child from birth to the age of 21.

84 properties are repossessed every day (based on Q4 2012 trends).

96 new people a day became unemployed for over 12 months during the year ending January 2013.

1,454 people a day reported they had become redundant between November 2012 and January 2013.

Public Sector Net Borrowing (excluding financial interventions) was £2.8bn in February 2013, meaning that the Government borrowed an average of £100m per day during the month (equivalent to £1,157 per second).

154 mortgage possession claims are issued and 111 mortgage possession orders are made every day.

426 landlord possession claims are issued and 297 landlord possession orders are made every day.

The UK population is growing by an estimated 1,342 people a day.

28.0m plastic card purchase transactions were made every day in January 2013 with a total value of £1.373 billion.

8.4m cash machine transactions were made every day in February 2013 with a total value of £328m.

The average new car costs £18.33 per day to run.

It cost £69.95 to fill a 50 litre tank with unleaded petrol in March.