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 157% of household gross disposable income. It then fell until 2014.
It rose for 6 successive quarters from the first quarter of 2016. Q3 2017 was the first quarter in over a year and a half to see a fall. It is now 138% of GDP.
The average Standard Variable Rate (SVR) was 4.54% in December 2017, up from 4.35% in November.
The average 2-year fixed mortgage rate was 1.57% in December, down slightly from 1.61% in November.
The increase in rates over the past few months coincides with the much-trailed base interest rate rise that the Bank of England announced at the beginning of November 2017
There were 25,401 individual insolvencies in England and Wales in Q4 2017, a similar level to the previous quarter, and 10% up on the same period in 2016. There were almost 100,000 individual insolvencies in 2017, the highest annual total since 2014.
In Scotland, there were 2,691 individual insolvencies in Q4 2017, a fall of 2.1% on a year earlier. In Northern Ireland, there were 640 individual insolvencies in Q4 2017, an increase of 3.7% on a year earlier.
Commons Briefing papers SN02885
Author: Chris Rhodes