Debt Facts and Figures - Compiled December 2009

Note: A Christmas Season special report has been added this month

Total UK personal debt

Total UK personal debt at the end of October 2009 stood at £1,458bn. The twelve-month growth rate fell to 0.7%.

Total lending in October 2009 rose by £0.3bn; secured lending increased by £0.9bn in the month; consumer credit lending fell by a net £0.6bn (total lending in Jan 2008 grew by £8.4bn).

Total secured lending on dwellings at the end of October 2009 stood at £1,230bn. The twelve-month growth rate was unchanged at 0.8%.

Total consumer credit lending to individuals at the end of October 2009 was £228bn. The annual growth rate of consumer credit continued to fall to - 0.1%.

Average household debt in the UK is ~ £9,120 (excluding mortgages). This figure increases to £21,210 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 ~ £58,316 (including mortgages). If you add to this the 2009 budget figure for public sector net debt (PSND) expected in 2013-14 then this figure rises to £116,156 per household.

Average owed by every UK adult is ~ £30,208 (including mortgages). This is 133% of average earnings. Average outstanding mortgage for the 11.1m households who currently have mortgages now stands at ~ £110,801.

Britain's interest repayments on personal debt were £65.7bn in the last 12months. The average interest paid by each household on their total debt is approximately £2,627 each year. According to PwC the average household will need to spend approximately 15% 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 £4,724 per average UK adult at the end of October 2009.

Statistical Sources - Unless otherwise indicated statistics in the "Total UK personal debt" section are calculated by Credit Action - primarily using the Bank of England's debt figures.