Everyday in the UK
Personal Debt in the UK
The population of the UK grew by an estimated 990 people a day between 2018 and 2019.
- On average, a UK household spends £4.29 a day on water, electricity, and gas.
- 275 people a day were declared insolvent or bankrupt in England and Wales in December 2020 to February 2021. This was equivalent to one person every 5 minutes and 12 seconds.
- In Northern Ireland in February 2021, there were 5.1 insolvencies per day and in Scotland 14.4 insolvencies per day.
- Citizens Advice Bureaux in England and Wales dealt with 1,616 debt issues every day in the year to February 2021.
- 1.5 properties were repossessed every day in October to December 2020 in the UK, or one every 15 hours and 46 minutes.
- The number of UK mortgages with arrears of over 2.5% of the remaining balance rose by 18 a day in the year to December 2020.
- The number of people unemployed in the UK grew by 984 per day in the three months to January 2021.
- 3,348 people a day reported they had become redundant in November to January 2021.
- Net lending to individuals and housing associations in the UK grew by £76.8 million a day in January 2021.
- Government debt increased by £789 million a day in the year to February 2021.
- Borrowers paid £122 million a day in interest in January 2021.
- It costs an average of £23.25 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 £28.22 per day.
- 2.8 mortgage possession claims and 0.3 mortgage possession orders were made every day in England and Wales in October to December 2020.
- 91 landlord possession claims and 23.9 landlord possession orders were made every day.
Arising from Coronavirus pandemic
Reports continue to be published showing the impact of Covid-19 on the financial health of UK households. The following are some of the new findings that have been published since our round-up in January’s Money Statistics:
£25 billion Amount of arrears and debt accumulated by 11.1 million households since March 2020 due to the financial pressures of the pandemic. (StepChange).
£2,300 Average increase in debt and arrears since March 2020 among those who have fallen behind on bills or borrowed for essentials (StepChange).
460,000 Number of private sector renters who were behind on their rent in January 2021, up from 230,000 in May 2020 (StepChange).
2 million Number of private sector renters who have experienced mental health problems due to money worries during the pandemic (StepChange).
2.3 million Number of people falling behind on their broadband bill (Citizens Advice, November 2020).
1 in 6 Proportion of broadband customers who struggled to pay their broadband bill between March 2020 and January 2021 (Citizens Advice).
7 in 10 Proportion of Universal Credit claimants seeking advice from Citizens Advice who have not previously made a benefits claim (Citizens Advice).
63.9 minutes Average amount of time per day more than men that women spent on unpaid household work (other than travel or childcare) in Sept/Oct 2020 (Men: 99.7 minutes per day; women: 163.6 minutes per day) (Office for National Statistics).
Statistics Source: http//www.themoneycharity.org.uk
We have assisted many people with personal debt in the UK – view our testimonials here https://www.griffinandking.co.uk/testimonials.php