UK Personal Debt
Outstanding personal debt stood at £1.451 trillion at the end of December 2011.
This is down from £1.454 trillion at the end of December 2010. Individuals owed nearly as much as the entire country produced in the four quarters between Q4 2010 and Q3 2011.
Outstanding secured (mortgage) lending stood at £1.245 trillion at the end of December 2011. This is up from £1.238 trillion at the end of December 2010.
Outstanding unsecured (consumer credit) lending stood at £207 billion at the end of December 2011. This is down from £216 billion at the end of December 2010.
Average household debt in the UK (excluding mortgages) was £7,948 in December. This is down from a revised £7,972 in November.
Average household debt in the UK (including mortgages) was £55,823 in December. This is up from a revised £55,818 in November.
The average amount owed per UK adult (including mortgages) was £29,547 in December. This was around 122% of average earnings.
Average consumer borrowing (including credit cards, motor and retail finance deals, overdrafts and unsecured loans) per UK adult was £4,207 in December.
The estimated average outstanding mortgage for the 11.2m households that carry mortgage debt stood at £110,703 in December.
Based on December 2011 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £62.6 billion. This is equivalent to £171 million per day. This means that UK households would have paid an average of £2,406 in annual interest repayments.
The Office for Budget Responsibility (OBR) predicts that total household debt will reach £2.045 trillion in Q1 2017. This would mean that average household debt would reach £78,669 (assuming that the number of households in the UK remained the same between now and Q1 2017).
Net lending by UK Banks and Building Societies rose by £0.4 billion in total in December 2011. Net secured lending rose by £0.7 billion in the month. Net consumer credit lending fell by £0.4 billion.
UK Banks and Building Societies wrote-off £7.6 billion of loans to individuals over the 4 quarters to Q3 2011. In Q3 2011 itself they wrote-off £1.43 billion (of which £716 million was credit card debt) amounting to a daily write-off of £15.68m.
Everyday in the UK
331 people are declared insolvent or bankrupt every day (based on Q3 2011 trends). This is equivalent to 1 person every 60 seconds during each working day.
1,779 Consumer County Court Judgements (CCJs) are issued every day (based on Q3 2011 trends). The average value of a CCJ in Q3 2011 was £2,816.
Citizens Advice Bureaux in England and Wales dealt with 8,652 new debt problems every working day during the year ending September 2011.
It costs an average of £28.44 per day to raise a child from birth to the age of 21.
101 properties are repossessed every day (based on Q3 2011 trends).
68 new people a day became unemployed for over 12 months during the year ending November 2011.
1,797 people a day reported they had become redundant between September and November 2011.
The Government’s Public Sector Net Debt (including financial interventions) will grow by an average of £199,700,000 today, equivalent to £2,312 per second (based on December 2011 data).
The Government pays an estimated £138,080,000 of interest each day on the UK’s Public Sector Net Debt of £2329.9bn (including financial interventions).
193 mortgage possession claims are issued and 153 mortgage possession orders are made every day
402 landlord possession claims are issued and 274 landlord possession orders are made every day.
The UK population is projected to grow by 1,205 people a day over the next decade.
26.2m plastic card purchase transactions were made every day in November 2011 with a total value of £1.252 billion.
8 million cash withdrawals will be made daily with a total value of £531m (based on Q3 2011 trends).
The average car costs £18.33 per day to run.
It costs £66.75 to fill a 50 litre tank with unleaded petrol in January.