Household debt: Data on the latest household debt statistics, including net lending, mortgage interest rates and insolvencies.Jump to full report >>
Household debt peaked in Q1 2008 at 160% of household gross disposable income. It then fell until 2011, before falling more slowly over the next few years.
In Q1 2017, household debt was 145%. It has risen for much of the past year.
The average Standard Variable Rate (SVR) was 4.23% in June 2017, its joint lowest level since June 2012, and 0.29 less than a year previously. It originally fell following the cut in the base interest rate by the Bank of England in August 2016.
The average 2-year fixed mortgage rate also fell following the rate cut. It was 1.48% in June 2017, down 0.27% points on the year.
There were 22,7722 individual insolvencies in England and Wales in Q2 2017, a very small fall from a year previously (seasonally adjusted figures), and down 9.7% from the previous quarter.
In Scotland, there were 2,839 individual insolvencies in Q2 2017, an increase of 17.3% on a year earlier. In Northern Ireland, there were 839 individual insolvencies in Q2 2017, an increase of 11.6% on a year earlier.
Commons Briefing papers SN02885
Author: Federico Mor