UK Personal Debt Statistics

Total UK personal debt at the end of June 2008 stood at £1,444bn. The growth rate increased to 7.4% for the previous 12 months which equates to an increase of ~ £98bn.

Total secured lending on homes at the end of June 2008 stood at £1,212bn. This has increased 7.5% in the last 12 months.

Total consumer credit lending to individuals in June 2008 was £232bn. This has increased 6.8% in the last 12 months.

Total lending in June 2008 grew by £4.0bn. Secured lending grew by £3.1bn in the month. Consumer credit lending grew by £0.9bn.

Average household debt in the UK is ~ £9,309 (excluding mortgages). This figure increases to £21,650 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 ~ £58,000 (including mortgages).

Average owed by every UK adult is ~ £30,424 (including mortgages).

Average outstanding mortgage for the 11.8m households who currently have mortgages now stands at ~ £102,554.

Britain's interest repayments have soared to £94.4bn in the last 12months. The average interest paid by each household on their total debt is approximately £3,800 each year.

Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,900 per average UK adult at the end of June 2008.

• Consumers will borrow an additional £268m today
• Consumers will pay £259m in interest today
• The average household debt will increase by over £10.75 today
• 2,370 Consumer County Court Judgements (CCJs) issued
• 424 mortgage possession claims will be issued and 302 mortgage possession orders will be made today
• 408 landlord possession claims will be issued and 312 landlord possession orders will be made today.
• 282 people today will be declared insolvent or bankrupt. KPMG estimate this will increase to 356 people a day by the end of 2008 which is equivalent to 1 person being declared insolvent or bankrupt every 4 minutes.
• 74 properties will be repossessed today. The Council of Mortgage lenders (CML) estimates this will increase to 123 a day during 2008.
• Approximately 18,000 credit card applications are being rejected every day.
• 4,000 fixed rate mortgages will come to an end today.
• Citizen Advice Bureaus will deal with 6,600 debt problems today
• The average car will cost £15.42 to run today
• £464m will be withdrawn from cash machines today.
• 20m transactions worth £1.0bn will be spent on credit, debit and charge cards today
• 1/3^rd of all groceries we buy today will end up in the dustbin.

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