Everyday in the UK
Personal Debt in the UK
The population of the UK grew by an estimated 777 people a day between 2019 and 2020.
- On average, a UK household spends £4.12 a day on water, electricity, and gas.
- 319 people a day were declared insolvent or bankrupt in England and Wales in October 2022 to December 2022. This was equivalent to one person every 4 minutes & 31 seconds.
- In Northern Ireland in December 2022, there were 4.0 insolvencies per day and in Scotland in the three months to December 2022 there was 21.4 insolvencies per day.
- Citizens Advice Bureaux in England and Wales dealt with 2,120 debt issues every day in the year to December 2022.
- 7.6 properties were repossessed every day in July to September 2022 in the UK, or one every 3 hours and 9 minutes.
- The number of UK mortgages with arrears of over 2.5% of the remaining balance rose by 16.2 a day in the year to September 2022.
- The number of people unemployed in the UK fell by 378 per day in the twelve months to November 2022.
- 1,066 people a day reported they had become redundant in September to November 2022.
- Net lending to individuals and housing associations in the UK grew by £183 million a day in November 2022.
- Government debt increased by £657 million a day in December 2022.
- Borrowers paid £147 million a day in interest in November 2022.
- It costs an average of £24.44 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 £29.50 per day.
- 40.0 mortgage possession claims and 27.1 mortgage possession orders were made every day in England and Wales in April to June 2022.
- 228.4 landlord possession claims and 166.9 landlord possession orders were made every day.
Arising from the current climate
The UK has undergone a significant degree of political and financial turmoil over the past few years. The pandemic and ongoing cost of living and energy crises, among other events, have affected the lives and finances of many people across the UK. Following are some striking statistics, curated over the last few weeks to reflect the situation as it evolves:
74%
The percentage of households in England and Wales who report that mains gas central heating was the only central heating source in their home (ONS).
£860
The estimated amount that single people living alone find added to their monthly expenses. This is due to the fact that single people aren’t able to split bills with their partners. As a result, single people are less likely to have enough cash left over at the end of the month to be considered financially resilient (14% of single people do, compared to 47% of coupled people) (Hargreaves Lansdown).
1.4 million
The number of households in the UK facing the prospect of interest rate rises when they renew their fixed rate mortgages in 2023 (ONS).
24%
The percentage of their median weekly expenditure that renters in the UK spent on rent in the year to March 2021, once housing benefit, rebates and other allowances received were accounted for. This is equivalent to a total of £106.50 per week. Meanwhile, mortgage holders spent a total of £140.80 per week on mortgage repayments, equal to 16% of their median weekly expenditure (ONS).
45%
The percentage of UK adults with mortgages who reported being very or somewhat worried about the changes in mortgage interest rates during the period 7 to 18 December 2022 (ONS).
34.5%
The average savings difference between men and women in the UK. This means that, on average, men have saved £43,567 more than women (Money.co.uk).
Statistics Source: http//www.themoneycharity.org.uk
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