We have been producing our must read summary of UK’s money situation since 2005. The latest UK money statistics from the Money Charity can be found below. And you can find the archive here.

The Money Statistics May 2018

114.4% The average debt to income ratio per adult in the UK

£123,870 The outstanding mortgage debt per mortgaged household

90 The amount of LINK cash machine transactions per second in April 2018

0% The stagnation in First Time Buyer house prices in February

£49m The fall in Public Sector Net Debt per day in 2018

0.1% The growth in GDP in Q1 2018 - the lowest growth since Q4 2012

9.614m The amount of workers auto enrolled in workplace pension schemes in April

3.1% The fall in average house prices across the UK on last month according to Halifax

£58,240 The average total debt per household (including mortgages)

UK Personal Debt

People in the UK owed £1.584 trillion at the end of April 2018.

This is up from £1.53 trillion at the end of April 2017– an extra £1,026.74 per UK adult.

The average total debt per household – including mortgages – was £58,240 in April. The revised figure for March was £58,103.

Per adult in the UK that’s an average debt of £30,601 in April – around 114.4% of average earnings. This is up from a revised £30,529 a month earlier.

Based on April 2018 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £50,680 billion.

That’s an average of £139 million per day.

This means that households in the UK would have paid an average of £1,863 in annual interest repayments. Per person that’s £979 3.66% of average earnings.

According to the Office for Budget Responsibility’s March 2018 forecast, household debt is predicted to reach £2.296 trillion in Q1 2022.

 

 

This makes the average household debt £84,412 (assuming that the number of households in the UK remained the same between now and then).

Outstanding consumer credit lending was £209.2 billion at the end of March 2018, remaining stagnant on last month.

However, this is up from £197.4 billion at the end of March 2017, and is an increase of £228.48 for every adult in the UK.

Per household, that’s an average consumer credit debt of £7,692 in March, up slightly from a revised £7,690 in February – and £434.85 extra per household over the year.

The average consumer credit borrowing stood at £4,041 per adult. This is unchanged on February.

Total credit card debt in April 2018 was £70.68bn. Per household this is £2,604. 

For a credit card bearing the average interest, it would take 26 years and 4 months to repay if you made only the minimum repayment each month.

The minimum repayment in the first month would be £63 but reduces each month. If you paid £63 every month, the debt would be cleared in around 5 years and 4 months.

Total net lending to individuals by UK banks and building societies rose by £0.3 billion in March 2018– or £9.68m a day.

Net mortgage lending grew by £0.3 billion in the month; net consumer credit lending rose by £0.1 billion as well.

In Q4 2017 they wrote off £637 million (of which £459 million was credit card debt) amounting to a daily write-off of £6.9 million.

Everyday in the UK

The population of the UK grew by an estimated 1,474 people a day between 2015 and 2016.

On average, a UK household spends £3.67 a day on water, electricity and gas.

304 people a day are declared insolvent or bankrupt. This is equivalent to one person every 4 minutes and 44 seconds.

Cash machines were used an average of 90 times a second across the UK.

3,118 Consumer County Court Judgements (CCJs) were issued every day in 2017, with an average value of £1,493.

Citizens Advice Bureaux in England and Wales dealt with 4,244 new debt problems every day during March 2017.

18 properties are repossessed every day, or one every 1 hour and 17 minutes.

The number of mortgages with arrears of over 2.5% of the remaining balance fell by 16 a day.

The number of people unemployed fell by 348 per day from November to January 2018.

1,109 people a day reported they had become redundant between November and January.

Net lending to individuals in the UK increased by £9.68 million a day in March 2018.

The Government debt fell by £49m a day during 2018.

Borrowers would repay £139 million a day in interest in year, based on March 2017 trends.

It costs an average of £23.61 per day for a couple to raise a child from birth to the age of 18.

This comes to £28.48 per day for a lone parent family.

47 mortgage possession claims and 31 mortgage possession orders are made every day.

339 landlord possession claims and 268 landlord possession orders are made every day.