UK Personal Debt
Outstanding personal debt stood at £1.424 trillion at the end of May 2013.
This is up from £1.410 at the end of May 2012. At the end of May 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 May 2013. This is up from £1.252 trillion at the end of May 2012.
Outstanding unsecured (consumer credit) lending stood at £157.6 billion at the end of May 2013. This is down from £158.0 billion at the end of May 2012.
Average household debt in the UK (excluding mortgages) was £5,978 in May. This is up from a revised £5,966 in April.
Average household debt in the UK (including mortgages) was £54,024 in May. This is up from a revised £54,002 in April.
The average amount owed per UK adult (including mortgages) was £28,985 in May. This is up from a revised £28,973 in April 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 £3,208 in May. This is up from a revised £3,201 in April.
The estimated average outstanding mortgage for the 11.3m households that carry mortgage debt stood at £112,464 in May.
Based on May 2013 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £59.8 billion. This is equivalent to £164 million per day. This means that UK households would have paid an average of £2,270 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).
Total net lending to individuals by UK Banks and Building Societies rose by £1.0 billion in May 2013. Net secured lending rose by £0.3 billion in the month; net consumer credit lending rose by £0.7 billion.
UK Banks and Building Societies wrote-off £4.1 billion of loans to individuals over the four quarters to Q1 2013. In Q1 2013 itself they wrote-off £932 million (of which £385 million was credit card debt) amounting to a daily write-off of £10.21m.
Everyday in the UK
274 people are declared insolvent or bankrupt every day (based on Q1 2013 trends). This is equivalent to one person every 5 minutes 15 seconds.
1,373 Consumer County Court Judgements (CCJs) are issued every day (based on Q1 2013 trends). The average value of a Consumer CCJ in Q1 2013 was £2,442.
Citizens Advice Bureaux in England and Wales dealt with 7,824 new debt problems every working day during the year ending March 2013.
t costs an average of £29.02 per day to raise a child from birth to the age of 21.
88 properties are repossessed every day (based on Q1 2013 trends).
An additional 44 people a day became unemployed for over 12 months during the year ending April 2013.
1,545 people a day reported they had become redundant between February and April 2013.
Public Sector Net Borrowing (excluding financial interventions) was £8.8bn in May 2013, meaning that the Government borrowed an average of £284m per day during the month (equivalent to £3,286 per second).
158 mortgage possession claims are issued and 112 mortgage possession orders are made every day.
466 landlord possession claims are issued and 312 landlord possession orders are made every day.
The UK population grew by 1,123 people a day between 2001 and 2011.
29.4m plastic card purchase transactions were made every day in April 2013 with a total value of £1.455 billion.
8.99m cash machine transactions were made every day in May with a total value of £360m.
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 £67.30 to fill a 50 litre tank with unleaded petrol in June.