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Debt Statistics

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Debt Facts and Figures - Compiled 1st May 2008

 

Total UK personal debt

 

Total UK personal debt at the end of March 2008 stood at £1,430bn. The growth rate increased to 8.7% for the previous 12 months which equates to an increase of ~ £113bn.

Total secured lending on homes at the end of March 2008 stood at £1,200bn. This has increased 9.1% in the last 12 months.

Total consumer credit lending to individuals in March 2008 was £230bn. This has increased 6.7% in the last 12 months.

Total lending in March 2008 grew by £8.2bn. Secured lending grew by £6.9bn in the month. Consumer credit lending grew by £1.2bn.

Average household debt in the UK is ~ £9,216 (excluding mortgages). This figure increases to £21,433 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 ~ £57,420 (including mortgages).

Average owed by every UK adult is ~ £30,120 (including mortgages).

Average outstanding mortgage for the 11.8m households who currently have mortgages now stands at ~ £101,530.

Two fifths of mortgagors have secured debts of over £90,000, up from one fifth in 2004.

Britain's interest repayments have soared to £93.8bn in the last 12months. The average interest paid by each household on their total debt is approximately £3,765 each year which has increased £340 in the last 12 months.

Compiled monthly by Richard Talbot

Note: new / changed statistics are at the start of each section. Extracts of these debt statistics and figures may be reproduced subject to the following conditions:

  • No commercial or financial gain is made from the reproduction.
  • Acknowledgement of Credit Action as the provider of the information is mentioned in the reproduction.

Where the above criteria cannot be realised, application should be made to Credit Action.

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