Total UK personal debt at the end of December 2009 stood at £1,460 billion, according to Credit Action, a national money education charity established in 1994. The twelve-month growth was 0.7 per cent.
Total lending in December 2009 rose by £1.2 billion; secured lending increased by £1.2 billion in the month; consumer credit lending increased by £0.1 billion - the first increase since June 2009 (total lending in Jan 2008 grew by £8.4 billion).
Total secured lending on dwellings at the end of December 2009 stood at £1,234 billion. The twelve-month growth rate was 0.9 per cent.
Total consumer credit lending to individuals at the end of December 2009 was £226 billion. The annual growth rate of consumer credit remained at - 0.5 per cent.
Average household debt in the UK is £9,000 (excluding mortgages). This figure increases to £18,722 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 £57,937 (including mortgages). If you add to this the December 2009 pre-budget report figure for public sector net debt (PSND) expected in 2014-15 (excluding financial interventions) then this figure rises to £116,390 per household.
Average owed by every UK adult is £30,252 (including mortgages). This is 129 per cent of average earnings. Average outstanding
mortgage for the 11.1 million households who currently have mortgages now stands at £111,132.
Britain's interest repayments on personal debt were £66.0 billion in the last 12months. The average interest paid by each household on their total debt is approximately £2,620 each year. According to leading accountancy firm PwC, the average household will need to spend approximately 15 per cent of net income purely to service the interest payments arising from this debt.
Average consumer borrowing via
credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,692 per average UK adult at the end of December 2009.
Striking numbers:
*9,300 Number of new debt problems dealt with by Citizens’ Advice Bureau each day
*£57,937 average household debt (including mortgages)
*£181 million personal interest paid in UK daily
*Every 11.2 minutes a property is repossessed
*1,995 people made redundant every day
*1000 people seek some form of formal debt rescheduling plan every day
*£4,316 a second increase in Government national debt
