How much debt does the average UK household have?
How much debt does the average UK household have?
£63,112
The average debt in the UK was over £1.7 billion at the end of November 2021. The average total debt per household in 2021 was £63,112. Unsecured debt from personal loans was estimated at £208 billion in 2019. As stated in UK personal debt statistics, 63% of UK adults had personal debt in 2019.
How much debt does the average British person have?
UK Personal Debt This is up by £63.4 billion from £1,718.3 billion at the end of March 2021, an extra £1,198.0 per UK adult over the year. The average total debt per household, including mortgages, was £64,107. Per adult this was £33,686, around 108.0% of average earnings.
What is the average household credit card debt in the UK?
Average UK Credit Card Debt for Every Household At the start of 2020, the average UK debt per household was £2,592. This is a slight decrease from the start of 2019 where it was £2,601.
Which country has the highest level of household debt?
In 2020, Hong Kong, United States, and China had the highest household debt of the selected countries when measured as a share of gross domestic product (GDP). At that time, Hong Kong households held a stock of debt valued at roughly 259 percent of the country’s output.
What is the average UK mortgage?
Quick Overview of Mortgages in the UK The average mortgage debt in the UK in 2021 was £137,934. There has been a dramatic drop in mortgage approvals in 2022 (almost 87%) which has been mainly due to the COVID-19 pandemic. The average price of a house in March 2021 was £231,855. This is a 2% increase from March 2020.
How much does the average person have on a credit card UK?
Total credit card debt in the UK was £56.5 billion in August 2021. This is far less than the £72.1 billion reported in 2020. Average credit card debt per household was £2,033 as of August 2021. That figure represents an average of £1,068 per adult.
What is the average UK household debt excluding mortgages?
The average credit balance across all accounts, excluding mortgages, is now £7,851 – when it was £11,615 at the start of March 2020 and £9,681 in June 2020.
What is the average debt in the UK excluding mortgage?
What’s the average mortgage in the UK?
What is the average age to pay off mortgage in UK?
In 2020, the responses read as 21% and 5%. While the average age borrowers expect to pay off their mortgage is 59, the number of survey participants who have no idea when they will pay it off at all stood at 16%.