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Credit Action

Total UK personal debt at the end of June 2011 stood at £1,451bn. The twelve-month growth rate remained unchanged at 0.8%. Individuals currently owe nearly as much as the entire country produced between Q2 2010 to Q1 2011.
UK banks and building societies wrote off £9.5bn of loans to individuals in the 4 quarters to end Q1 2011. In Q1 2011 they wrote off £1.89bn (£866m of that was credit card debt). This amounts to a write-off of £20.71m a day.
331 people every day of the year will be declared insolvent or bankrupt. This is equivalent to 1 person every 60 seconds during a working day.

Credit Action IMHO the best site which gives the most accurate Debt Stats. <_<



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Can't be long now before bankruptcy is made almost impossible. They don't want the debt slaves escaping :unsure:

As a precedent, albeit at a tangent, I seem to recall George Bush tightening up the US bankruptcy laws for his Masters in the aftermath of the New Orleans disaster which left many people with nothing except debt.

Edited by DTMark

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So that works out at £115,747 Average mortgage amount which is 70% LTV at average house price of £165k

Interesting... So if house prices doped by 15% to an average of £140k the average BTL LTV would be 82% which would put up their interest rates and make the banks more money.

Summarizing, a 15% fall in house prices would be good for bank earnings! :rolleyes:

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  • 337 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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