£200.882 billion The level of unsecured debt in the UK, the highest since 2008
£7,413 The amount the average household owes in unsecured debt
£68.5 billion The amount people owe on their credit cards
£1.344 trillion The level of secured debt in the UK, the highest it has ever been
£1.754 trillion Public sector net debt (excluding banks)
£1.545 trillion Total private debt in the UK, which has never been higher
9.45 million The number of people in the UK who have no savings
3.76% The average interest on a £10k loan
2.57% The average mortgage interest
UK Personal Debt
People in the UK owed £1.545 trillion at the end of June 2017. This is up from £1.493 trillion at the end of June 2016 – an extra £1001.56 per UK adult.
The average total debt per household – including mortgages – was £57,005 in June. The revised figure for May was £56,791.
Per adult in the UK that’s an average debt of £29,842 in June – around 113.8% of average earnings. This is slightly up from a revised £29,730 a month earlier.
Based on June 2017 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £50.149 billion.
- That’s an average of £137 million per day.
- This means that households in the UK would have paid an average of £1,851 in annual interest repayments. Per person that’s £969 – 3.69% of average earnings.
According to the Office for Budget Responsibility’s March 2017 forecast, household debt is predicted to reach £2.322 trillion in Q1 2022. This makes the average household debt £86,001 (assuming that the number of households in the UK remained the same between now and then).
Outstanding consumer credit lending was £200.882 billion at the end of June 2017.
- This is up from £186.5 billion at the end of June 2016, and is an increase of £277.72 for every adult in the UK.
Per household, that’s an average consumer credit debt of £7,413 in June, up from a revised £7,374 in May – and £530.52 extra per household over the year.
It also means the average consumer credit borrowing stood at £3,880 per UK adult. This is up from a revised £3,860 in May.
Total credit card debt in June 2017 was £68.5bn. Per household this is £2,528 – for a credit card bearing the average interest, it would take 26 years and 1 month to repay if you made only the minimum repayment each month.
- The minimum repayment in the first month would be £61 but reduces each month. If you paid £60 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 £5.6 billion in June 2017 – or £187m a day.
- Net mortgage lending rose by £4.1 billion in the month; net consumer credit lending rose by £1.5 billion.
- In Q1 2017 they wrote off £530 million (of which £394 million was credit card debt) amounting to a daily write-off of £7 million.
Outstanding mortgage lending stood at £1.344 trillion at the end of June.
- This is up from £1.306 trillion a year earlier.
That means that the estimated average outstanding mortgage for the 11.1m households with mortgage debt was £121,087 in June.
The average mortgage interest rate was 2.57% at the end of June. Based on this, households with mortgages would pay an average of £3,112 in mortgage interest over the year.
Everyday in the UK
The population of the UK grew by an estimated 1,286 people a day between 2014 and 2015.
On average, a UK household spends £3.40 a day on water, electricity and gas.
248 people a day are declared insolvent or bankrupt. This is equivalent to one person every 6 minutes 13 seconds.
46.2 million plastic card purchase transactions were made every day in May 2017, with a total value of £1.927 billion.
3,321 Consumer County Court Judgments (CCJs) are issued every day, with an average value of £1,495.
Citizens Advice Bureaux in England and Wales dealt with 13,075 new debt problems every day during April 2017.
14 properties are repossessed every day, or one every one hour and 43 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 for over 12 months fell by 211 per day between March and May.
1,054 people a day reported they had become redundant between March and May.
Net lending to individuals in the UK increased by £173 million a day.
The Government debt grew by £347m a day during April 2017 (£4,012 per second).
Borrowers would repay £137 million a day in interest over a year, based on June 2017 trends.
It costs an average of £30.23 per day to raise a child from birth to the age of 21.
63 mortgage possession claims and 34 mortgage possession orders are made every day.
391 landlord possession claims and 289 landlord possession orders are made every day.