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Debt Facts And Figures - Compiled 1st September 2007

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I think what amazes me and others on here is how this monster continues to roll on....i mean, it almost defies all sensible logic doesnt it?!

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http://www.creditaction.org.uk/debtstats.htm

Total UK personal debt

Total UK personal debt at the end of July 2007 stood at £1,355bn. The growth rate increased to 10.1% for the previous 12 months which equates to an increase of £117bn.

Total secured lending on homes at the end of July 2007 stood at £1,140bn. This has increased 11.0% in the last 12 months.

Total consumer credit lending to individuals in July 2007 was £214bn. This has increased 5.3% in the last 12 months.

Total lending in July 2007 grew by £10.3bn. Secured lending grew by £9.2bn in the month. Consumer credit lending grew by £1.1bn.

Average household debt in the UK is £8,856 (excluding mortgages). This figure increases to £20,600 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 £56,000 (including mortgages).

Average owed by every UK adult is £28,550 (including mortgages). This grew by £210 last month.

Average outstanding mortgage for the 11.8m households who currently have mortgages is £96,560

Average interest paid by each household on their total debt is approximately £3,700 each year (this equates to 9% of take home pay).

Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,515 per average UK adult at the end of July 2007.

Britain's personal debt is increasing by £1 million every 4 minutes.

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Having looked at the Alliance & leciester Website, using thier rudementary Mortgage calculator

it would appear that for every £100 a month in loan repayments they restrict borrowing by £11,000, for every £1000 of credit card balance they reduce borrowing £6,000. good reasons not to be in Hock.

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I think what amazes me and others on here is how this monster continues to roll on....i mean, it almost defies all sensible logic doesnt it?!

Britain's personal debt is increasing by £1 million every 4 minutes.

...how do you think NuLabour created their miracle economy.....?...on the back of all these UK citizen borrowers.....this is Slavery 2007......"Rule Britannia etc Britons never never will be slaves "....they are to Labours "Never, Never Debt"...... :o:o:o

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I think what amazes me and others on here is how this monster continues to roll on....i mean, it almost defies all sensible logic doesnt it?!

it does defy logic, but buying on credit is now part of life for many people I know. Just like the dot com boom, I fear things will get to the point of being absolutely crazy before there is a change.

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The extra 10% in debt over the last year ties in nicely with the 10% increase in property values.

Oh I see now it's all free money after all :)

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The extra 10% in debt over the last year ties in nicely with the 10% increase in property values.

Oh I see now it's all free money after all :)

and 13% M4 figures!

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It doesnt really defy logic.

Millions of homeowners, that have seen their houses treble in value in the last 10 years have taken advantage of low interest rates and MEW'd.

The extent of this cannot be measured, one can only gasp at the 1.3 trillion pounds of debt.

But who knows how long it will continue? All we know is that it cant go on forever! But again, measuring that is nigh on impossible. Whilst interest rates are relatively low, people will borrow more. Its the same as asset prices going up. Money is still relatively cheap.

And whilst interest rates are low. This mess will continue.

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"Average outstanding mortgage for the 11.8m households who currently have mortgages is £96,560

Average interest paid by each household on their total debt is approximately £3,700 each year (this equates to 9% of take home pay)."

this is an interest rate of less than 3.7%? :blink:

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"Average outstanding mortgage for the 11.8m households who currently have mortgages is £96,560

Average interest paid by each household on their total debt is approximately £3,700 each year (this equates to 9% of take home pay)."

this is an interest rate of less than 3.7%? :blink:

I think the top one is referring to households that have mortgages, and the second stat is referring to ALL households. I.e. Some that

dont have mortgages.

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...how do you think NuLabour created their miracle economy.....?...on the back of all these UK citizen borrowers.....this is Slavery 2007......"Rule Britannia etc Britons never never will be slaves "....they are to Labours "Never, Never Debt"...... :o:o:o

The original printers of the poem Rule Britannia made a typographic error that somehow survived in all subsequent editions: the poet's (James Thomson's) intention was "Britons never will be savers."

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