UK Personal Debt
Outstanding personal debt stood at £1.422 trillion at the end of January 2013.
This is up from £1.408 trillion at the end of January 2012. At the end of January 2013, individuals owed nearly as much as the entire country produced during the whole of 2012.
Outstanding secured (mortgage) lending stood at £1.265 trillion at the end of January 2013. This is up from £1.248 trillion at the end of January 2012.
Outstanding unsecured (consumer credit) lending stood at £158 billion at the end of January 2013. This is down from £160 billion at the end of January 2012.
Average household debt in the UK (excluding mortgages) was £5,988 in January. This is up from a revised £5,955 in December.
Average household debt in the UK (including mortgages) was £53,972 in January. This is up from a revised £53,948 in December.
The average amount owed per UK adult (including mortgages) was £28,957 in January. This is up from £28,944 in December, and was around 117% of average earnings.
Average consumer borrowing (including credit cards, motor and retail finance deals, overdrafts and unsecured loans) per UK adult was £3,213 in January. This is up from a revised £3,195 in December.
The estimated average outstanding mortgage for the 11.3m households that carry mortgage debt stood at £112,071 in January.
Based on January 2013 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £60.1 billion. This is equivalent to £165 million per day. This means that UK households would have paid an average of £2,282 in annual interest repayments.
The Office for Budget Responsibility (OBR) predicted in December 2012 that total household debt will reach £1.997 trillion in Q1 2018. This would mean that average household debt would reach £75,769 (assuming that the number of households in the UK remained the same between now and Q1 2018).
Net lending by UK Banks and Building Societies rose by £0.6 billion in total in January 2013. Net secured lending rose by £0.1 billion in the month. Net consumer credit lending rose by £0.4 billion.
UK Banks and Building Societies wrote-off £4.5 billion of loans to individuals over the 4 quarters to Q4 2012. In Q4 2012 itself they wrote-off £999 million (of which £469 million was credit card debt) amounting to a daily write-off of £10.92m.
Everyday in the UK
277 people are declared insolvent or bankrupt every day (based on Q4 2012 trends). This is equivalent to one person every 5 minutes 12 seconds.
1,374 Consumer County Court Judgements (CCJs) are issued every day (based on Q4 2012 trends). The average value of a Consumer CCJ in Q4 2012 was £2,615.
Citizens Advice Bureaux in England and Wales dealt with 8,308 new debt problems every working day during the year ending September 2012.
It costs an average of £29.02 per day to raise a child from birth to the age of 21.
84 properties are repossessed every day (based on Q4 2012 trends).
57 new people a day became unemployed for over 12 months during the year ending December 2012.
1,585 people a day reported they had become redundant between October and December 2012.
Public Sector Net Borrowing (excluding financial interventions) was -£11.4bn in January 2013 (a repayment), meaning that the Government repaid an average of £368m per day during the month (equivalent to £4,256 per second).
154 mortgage possession claims are issued and 111 mortgage possession orders are made every day.
426 landlord possession claims are issued and 297 landlord possession orders are made every day.
The UK population is growing by an estimated 1,342 people a day.
28.2m plastic card purchase transactions were made every day in December 2012 with a total value of £1.387 billion.
7.7m cash machine transactions were made every day in January 2013 with a total value of £291m.
The average new car costs £18.33 per day to run.
It cost £68.95 to fill a 50 litre tank with unleaded petrol in February.