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 148% of household disposable income. It then fell until reaching 127% by late 2015.
Starting in early 2016, growth in household debt levels accelerated, leading to the debt-to-income ratio to increase to 133% in Q4 2017.
Statistical note: The household debt and income source data have been changed. Previously debt and income totals included the non-profit sector (mostly charities and universities). The new data reflects only individuals in the household sector. The overall historical trends are unchanged. For more see Box 1 in the Library paper on household debt.
The average Standard Variable Rate (SVR) was 4.23% in March 2018, slightly down on the level seen a year ago.
The average 2-year fixed mortgage rate was 1.52% in March, down slightly on the level seen a year ago.
There were 27,388 individual insolvencies in England and Wales in Q1 2018, up 7% on the previous quarter, and 9% up on the same period in 2016. The total number of insolvencies in Q1 2018 was the highest number of individual insolvencies since 2012.
In Scotland, there were 2,501 individual insolvencies in Q1 2018, a fall of 0.6% on a year earlier.
In Northern Ireland, there were 574 individual insolvencies in Q1 2018, an fall of% on a year earlier. There were 2,878 individual insolvencies in 2017.
Commons Briefing papers SN02885
Author: Chris Rhodes