UK Personal Debt
Total UK personal debt at the end of March 2011 stood at £1,453bn. The twelve-month growth rate remained unchanged at 0.7%. Individuals currently owe nearly as much as the entire country produced during the whole of 2010.
Total lending in March 2011 rose by £0.5bn; secured lending increased by £0.4bn in the month; consumer credit lending increased by £0.1bn (total lending in Jan 2008 grew by £8.4bn).
Total secured lending on dwellings at the end of March 2011 stood at £1,241bn. The twelve-month growth rate remained unchanged at 0.7%.
Total consumer credit lending to individuals at the end of March 2011 was £212bn. The annual growth rate of consumer credit remained unchanged at 1.1%.
UK banks and building societies wrote off £9.7bn of loans to individuals in the 4 quarters to end Q4 2010. In Q4 2010 they wrote off £2.27bn (£1.18m of that was credit card debt). This amounts to a write-off of £24.88m a day.
Average household debt in the UK is ~ £8,144 (excluding mortgages). This figure increases to £15,661 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 ~ £55,870 (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 £106,486 per household.
Average owed by every UK adult is ~ £29,843 (including mortgages). This is 128% of average earnings. Average outstanding mortgage for the 11.4m households who currently have mortgages now stands at ~ £109,003.
Britain’s interest repayments on personal debt were £65.6bn in the last 12 months. The average interest paid by each household on their total debt is approximately £2,523 each year.
Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,350 per average UK adult at the end of March 2011.
The Office for Budget Responsibility (OBR) predicts that household debt will be £2,126bn by end 2015. This would take the average household debt to £84,365 per household.
Everyday in the UK
337 people every day of the year will be declared insolvent or bankrupt. This is equivalent to 1 person every 59 seconds during a working day.
1,603 Consumer County Court Judgements (CCJs) were issued every day during Q4 2010 and the average judgement amount was £3,245.
Citizens Advice Bureau dealt with 8,004 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 £27.50 a day.
87 properties were repossessed every day during Q4 2010
296 new people became unemployed for more than 12 months every day during the 12 months to end February 2011
1,392 people reported they had become redundant every day during 3 months to end February 2011
£133,200,000 is the amount that the Government Public Sector Net Debt (PSDN), including financial interventions, will grow today (equivalent to £1,541 per second).
£118,080,000 is the interest the Government has to pay each day on the UKs net debt of £2252.1bn (which includes financial interventions). This is estimated to rise to £182m a day in 2015-16.
212 mortgage possession claims will be issued and 163 mortgage possession orders will be made today
377 landlord possession claims will be issued and 251 landlord possession orders will be made today.
The UK population is projected to grow by 1,205 people a day over the next decade
24.1m plastic card purchase transactions will be made today with a total value of £1.156bn.
7.7m cash withdrawals will be made today with a total value of £528m
The average car will cost £16.08 to run today
It costs £67.90 on average to fill a car with a 50 litre tank with unleaded petrol.