– The population of the UK grew by an estimated 1,083 people a day between 2017 and 2018.
– On average, a UK household spends £4.05 a day on water, electricity and gas.
– 340 people a day were declared insolvent or bankrupt in England and Wales in April to June 2019. This was equivalent to one person every 4 minutes and 14 seconds.
– In Northern Ireland, there were 8 insolvencies per day and in Scotland 39 insolvencies per day.
– Citizens Advice Bureaux in England and Wales dealt with 2,566 debt issues every day in the year to July 2019.
– 14 properties were repossessed every day in Q2 2019 in England and Wales, or one every 1 hour and 43 minutes.
– The number of UK mortgages with arrears of over 2.5% of the remaining balance fell by 6 a day.
– The number of people unemployed in the UK fell by 90 per day in the year to June 2019.
– 1,143 people a day reported they had become redundant in April to June 2019.
– Net lending to individuals and housing associations in the UK grew by £127 million a day in June 2019.
– Government debt increased by £115.1 million a day in the year to July 2019.
– Borrowers paid £139 million a day in interest in June 2019.
– It costs an average of £22.95 per day for a couple to raise a child from birth to the age of 18.
– For a lone parent family, the cost of raising a child comes to £27.90 per day.
– 68 mortgage possession claims and 44 mortgage possession orders were made every day in England and Wales in April to June 2019.
– 293 landlord possession claims and 235 landlord possession orders were made every day
Personal Debt in the UK
People in the UK owed £1,642 billion at the end of June 2019. This is up from £1,596 billion at the end of June 2018, an extra £887 per UK adult over the year.
| Type of Personal Debt | Total Personal Debt £billion | Per Household £ | Per Adult £ |
| Secured (Mortgages) | £1,4242 billion | £51,309 | £27,004 |
| Unsecured Consumer Debt | £218.1 billion | £7,856 | £4,135 |
| Of Which, Credit Card | £72.9 billion | £2,625 | £1,381 |
| Grand Total (May 2019) | £1,642.3 billion | £59,166 | £31,139 |
The average total debt per household, including mortgages, was £59,166 and per adult was £31,139, around 111.0% of average earnings. This is up from a revised £31,067 a month earlier.
Based on June 2019 trends, the UK’s total interest payments on personal debt over a 12-month period would have been £50,803 million, an average of £139 million per day. The average annual interest per household would have been £1,849, and per person £963, 3.4% of average earnings.
According to the Office for Budget Responsibility’s March 2019 forecast, household debt is forecast to reach £2.425 trillion in 2023-24. This would make the average household debt £86,388 (assuming household numbers track ONS population projections.)
Statistics Source: https//www.themoneycharity.org.uk
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If you would like further information on Corporate or Personal debt help please contact Griffin & King Insolvency Practitioners on 01922 722205, and speak to Tim, Cheryl or Janet.
You can also contact Janet by email on janet.peacock@griffinandking.co.uk, or by text or calling on 07545 806 531.
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