UK Personal Debt
Total UK personal debt at the end of November 2010 stood at £1,454bn. The twelve-month growth rate was unchanged at 0.8%. Individuals owe more than what the whole country produces in a year.
Total lending in November 2010 rose by £0.7bn; secured lending increased by £0.8bn in the month; consumer credit lending decreased by £0.1bn (total lending in Jan 2008 grew by £8.4bn).
Total secured lending on dwellings at the end of November 2010 stood at £1,240bn. The twelve-month growth rate decreased 0.1% to 0.8%.
Total consumer credit lending to individuals at the end of November 2010 was £214bn. The annual growth rate of consumer credit was unchanged at 0.6%.
UK banks and building societies wrote off £9.9bn of loans to individuals in the last 12 months to end Q3 2010. In Q3 2010 they wrote off £1.83bn (£740m of that was credit card debt). This amounts to a write-off of £20.10m a day.
Average household debt in the UK is ~ £8,495 (excluding mortgages). This figure increases to £16,336 if the average is based on the number of households who actually have some form of unsecured loan.
Average household debt in the UK is ~ £57,706 (including mortgages). If you add to this the March 2010 budget report figure for public sector net debt (PSND) expected in 2015-16 (excluding financial interventions) then this figure rises to £109,928 per household.
Average owed by every UK adult is ~ £29,875 (including mortgages). This is 126% of average earnings.
Average outstanding mortgage for the 11.4m households who currently have mortgages now stands at ~ £108,936.
Britain’s interest repayments on personal debt were £65.1bn in the last 12 months. The average interest paid by each household on their total debt is approximately £2,582 each year.
Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,398 per average UK adult at the end of November 2010.
The Office for Budget Responsibility (OBR) predicts that household debt will be £1,823bn by end 2015 which is a growth of £159m a day. This would take the average household debt to £72,341 per household.
Everyday in the UK
372 people every day of the year will be declared insolvent or bankrupt. This is equivalent to 1 person every 53 seconds during a working day.
1,716 Consumer County Court Judgements (CCJs) were issued every day during Q3 2010 and the average judgement amount was £3,312.
The average person will save £2.73 every day.
Citizens Advice Bureau dealt with 9,389 new debt problems every working day in England and Wales
The average cost of raising a child from birth to the age of 21 is £26 a day.
1,000 people are seeking some form of formal debt rescheduling every working day.
98 properties were repossessed every day during Q3 2010
449 people a day became unemployed for more than 12 months during the 12 months to end October 2010
1,732 people reported they had become redundant every day during 3 months to end October 2010
£349,000,000 is the amount that the Government Public Sector net debt (PSDN) will grow today (equivalent to £4,040 per second).
£127,400,000 is the interest the Government has to pay each day on the UKs net debt of £971 bn. This is estimated to rise to £182m a day in 2015-16.
207 mortgage possession claims will be issued and 154 mortgage possession orders will be made today
372 landlord possession claims will be issued and 248 landlord possession orders will be made today.
The UK population is projected to grow by 1,178 people a day over the next decade
24.1m plastic card purchase transactions will be made today with a total value of £1.153bn.
7.9m cash withdrawals will be made today with a total value of £530m
The average car will cost £16.08 to run today