Average personal debt breaks £4,000 level

Average personal debt breaks £4,000 level

Wednesday, February 23, 2005

The average UK adult's personal debt has reached over £4,000, according to a new report.

The new research, by independent market analyst Datamonitor, reveals that consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans had risen to £4,004 per average UK adult at the end of 2004.

The figure is up 10% from 2003 and has soared by 45%, from £2,767, in 2000.

Despite several interest rate increases and the general uncertainty about the current state of the housing market, the consumer credit market continues to grow at healthy speed, said the report.

Oksana Selezneva, Datamonitor financial services analyst and author of the report said: "One of the major reasons behind this strong performance is the fact that the majority of bad debt indicators, such as unemployment, records of mortgage arrears and repossessions and county court judgments remain at their historically low levels."

"This has given consumers the confidence to keep on borrowing and the ability to cope with their debt repayments relatively well."

CLICK HERE TO PRINT THIS PAGE

CLICK HERE FOR OUR FULL NEWS ARCHIVE

Get this news on your website !

If you have a website, whether it is a personal homepage or a fully fledged estate agent service, you can get our news headlines included on your site. Both these newsfeed services give you the option of having the full news content from TheMoveChannel.com - not just the articles that appear on country subdomains such as this one:

Premium service

For just £50 / month, you can now have your own customised news service on your website. With the XML-based service, articles actually appear on a page on your site, making this a sticky feature that won't result in your traffic leaving. You have control over the display format to show your choice of headlines, dates and short article introductions and can apply your own style sheet or control the display format with XSL sheets. Finally, you can also set your subject preferences so that your feed only displays articles which are relevant to your site audience.

Top News Stories:

Brits abroad have 'no regrets’
6/19/2008 - Expats who’ve escaped to sunnier climes seemingly have no regrets about leaving the UK…

Canny FTBs remain ‘undeterred’
6/19/2008 - A new survey has revealed that FTBs are increasingly entering the new homes market with confidence...

Londoners love ‘laid-back’ Italy
6/18/2008 - A survey has revealed that Londoners see Italy as the most desirable place to buy property...

Sponsored listings:


Worldwide	England	Northern Ireland	Scotland	Wales	London	Spain	France	Italy	USA	Investment


Privacy policy Terms of use Support Bookmark now! uk index						TheMoveChannel.com is a protected Trademark. Copyright © 2000 - 2008 On The Move Ltd. All rights reserved.