Thursday, Jun 01, 2006

UK Personal debt stats

Credit Action: Debt Facts and Figures - Compiled 1st June 2006

Total mortgage borrowing in the UK will have passed the 1 trillion (1,000 billion) in May 2006, according to the Council of Mortgage Lenders.

At the end of April 2006 the total UK personal debt was 1,191bn. The growth rate remains strong at 10.2% for the previous 12 months which equates to an increase of 100bn.

Total secured lending on homes in April 2006 was 999.2bn. This has increased 10.8% in the last 12 months.

Total consumer credit lending to individuals in April 2006 was 191.5bn. This has increased 7.3% in the last 12 months.

Total lending in April 2006 grew by 9.3bn. Secured lending grew by 8.5bn in the month. Consumer credit lending grew by 0.8bn in the month.

Average household debt in the UK is approximately 7,754 (excluding mortgages) and 48,209 including mortgages.

Average owed by every UK adult is approximately 25,545 (including mortgages). This grew by ~ 200 last month.

Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to 4,109 per average UK adult at the end of April 2006. This has grown 52% in 5 years.

Britain's personal debt is increasing by ~ 1 million every four minutes.

Posted by cupidstunt @ 09:31 PM (443 views)
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1. The Bald Man said...

would some tell the representative from the Council of mortgage lenders debt is real unrealised gains on houses easily disappear.

This debt has kept the economy alive. Much is it has been taken as taxes and wasted by this government. As stated before the credit crunch is coming.

Friday, June 2, 2006 11:01AM Report Comment

2. uncle tom said...

I'm slightly intrigued why an annual growth rate of debt of + 10.2% is referred to as 'strong'.

By any reasonable assessment, this reflects weakness, not strength.

Friday, June 2, 2006 11:32AM Report Comment

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