Personal Debt – September 2015

Information kindly provided by The Money Charity

Outstanding personal debt stood at £1.443 trillion at the end of July 2015

This is up from £1.412 trillion at the end of July 2014

Outstanding secured (mortgage) lending stood at £1.269 trillion at the end of July 2015

This is up from £1.250 trillion at the end of July 2014

Outstanding unsecured (consumer credit) lending stood at £173.38 billion at the end of July 2015

 This is up from £162.1 billion at the end of July 2014

Average household debt in the UK (excluding mortgages) was £6,493 in July 2015

This is up from a revised £6,456 in June 2015

Average household debt in the UK (including mortgages) was £54,042 in July 2015

This is up from a revised £53,966 in June 2015

The average amount owed per UK adult (including mortgages) was £28,556 in July 2015

This was around 112% of average earnings

Average consumer borrowing (including credit cards, motor and retail finance deals, overdrafts and unsecured loans) per UK adult was £3,414 in July 2015

The estimated average outstanding mortgage for the 11.1m households that carry mortgage debt stood at £114,593 in July 2015

Based on July 2015 trends, the UK’s total interest repayments on personal debt over a 12
month period would have been £53.035 billion

This is equivalent to £145 million per day

This means that UK households would have paid an average of £1,986 in annual interest repayments

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Total net lending to individuals increased by £122.6 million a day in July 2015

UK Banks and Building Societies wrote-off £2.950 billion of loans to individuals over the four quarters to Q2 2015

Everyday In The UK

Based on the latest available data, The Money Charity
estimates that every day in the UK:

209 people are declared insolvent or bankrupt every day

This is equivalent to one person every 6 minutes 53 seconds

2,330 Consumer County Court Judgements (CCJs) are issued every day

The average value was £2,171

Citizens Advice Bureaux in England and Wales dealt with 6,323 new debt problems every working day during the year ending March 2015

It costs an average of £29.91 per day to raise a child from birth to the age of 21

42 properties are repossessed every day

The number of people unemployed for over 12 months fell by 142 per day

1,155 people a day reported they had become redundant between April and June 2015

The Government had a surplus of £43 million per day during July 2015 (equivalent to £502 per second)

53 mortgage possession claims are issued and 38 mortgage possession orders are made every day

398 landlord possession claims are issued and 323 landlord possession orders are made every day

The UK population grew by 1,223 people a day between 2003 and 2013

36.5m plastic card purchase transactions were made every day in June 2015, with a total value of £1.59 billion

9m cash machine transactions were made every day in August 2015 with a total value of £367m

On average, a UK household spends £3.10 a day on water, electricity and gas

The full report can be found here