In the first half of 2024, the total value of debt from loans to households in the United Kingdom amounted to approximately two trillion British pounds. It was in 2004, when household debt surpassed the one trillion British pounds mark. Debts can be formed in a number of ways. The most common forms of debt for households include credit cards, medical debt, student loans, overdrafts, mortgages, automobile financing and personal loans.

Key information about United Kingdom Household Debt: % of GDP

• United Kingdom household debt accounted for 81.6 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 81.8 % in the previous quarter.
• UK household debt to GDP ratio is updated quarterly, available from Mar 1987 to Sep 2024.
• The data reached an all-time high of 108.5 % in Mar 2010 and a record low of 55.6 % in Mar 1987.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Office for National Statistics provides Household Debt in local currency and Nominal GDP in local currency. Household Debt includes NPISH.


Related information about United Kingdom Household Debt: % of GDP

• In the latest reports, UK Household Debt reached 3,076.4 USD bn in Sep 2024.
• Money Supply M2 in UK increased 2.2 % YoY in Dec 2024.
• UK Foreign Exchange Reserves was measured at 112.5 USD bn in Jan 2025.
• The Foreign Exchange Reserves equaled 1.4 Months of Import in Oct 2024.
• UK Domestic Credit reached 4,866.2 USD bn in Dec 2024, representing an drop of 1.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.0 % in Dec 2022, compared with the ratio of 1.0 % in the previous year.

Households Debt in the United Kingdom decreased to 76.30 percent of GDP in the fourth quarter of 2024 from 77.20 percent of GDP in the third quarter of 2024. This dataset provides - United Kingdom Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Households that have liquidity problems and solvency problems only

Key information about United Kingdom Household Debt

• United Kingdom Household Debt reached 3,076.4 USD bn in Sep 2024, compared with the reported number of 2,873.8 USD bn in the previous quarter
• UK Household Debt: USD mn data is updated quarterly, available from Mar 1987 to Sep 2024
• The data reached an all-time high of 3,298.5 USD bn in Jun 2008 and a record low of 406.9 USD bn in Mar 1987

CEIC converts quarterly Household Debt into USD. Office for National Statistics provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Household Debt includes NPISH.


Further information about United Kingdom Household Debt

• In the latest reports, United Kingdom Household Debt accounted for 81.5 % of the country's Nominal GDP in Sep 2024
• Money Supply M2 in United Kingdom increased 3,931.4 USD bn YoY in Oct 2024
• United Kingdom Foreign Exchange Reserves was measured at 115.5 USD bn in Nov 2024
• The Foreign Exchange Reserves equaled 1.4 Months of Import in Oct 2024
• United Kingdom Domestic Credit reached 5,119.2 USD bn in Aug 2024, representing an drop of 0.9 % YoY

Graph and download economic data for Household Debt to GDP for United Kingdom (HDTGPDGBQ163N) from Q4 2008 to Q4 2024 about United Kingdom, debt, households, and GDP.

The UK's average credit card debt per household grew by 151 British pounds between December 2021 and December 2022, the first increase since 2020. Standing at 2,229 British pounds at December 2022, the figure contrasts with the decline in 2020 – when the debt declined from 2,594 British pounds to 2,083 British pounds. That particular drop was likely a result of Covid-19's economic impact, and consumers trying to get rid of their credit card debt. The increase in 2022 may be caused by growing interest rates and the cost of living crisis beginning to take shape.

Denmark, the Netherlands, and Norway were among the European countries with most indebted households in 2023 and 2024. The debt of Dutch households amounted to *** percent their disposable income in the 2nd quarter of 2024. Meanwhile, Norwegian households' debt represented *** percent of their income in the 3rd quarter of 2023. However, households in most countries were less indebted, with that ratio amounting to ** percent in the Euro area. Less indebtedness in Western and Northern Europe There were several European countries where household's debts outweighed their disposable income. Most of those countries were North or West European. However, the indebtedness ratio in Denmark has been decreasing during the past decade. As the debt of Danish households represented nearly *** percent in the last quarter of 2014, which has fallen very significantly by 2024. Other countries with indebted households have been following similar trends. The households' debt-to-income ratio in the Netherlands has also fallen from over *** percent in 2013 to *** percent in 2024. Debt per adult in Europe In Europe, the value of debt per adult varies considerably from an average of around 10,000 U.S. dollars in Europe to a much higher level in certain countries such as Switzerland. Debts can be formed in a number of ways. The most common forms of debt include credit cards, medical debt, student loans, overdrafts, mortgages, automobile financing and personal loans.

Attitudes towards savings and debt differ greatly among countries worldwide. While the household debt in Denmark represented a *** percent of their disposable income in 2021, those figures amounted to ** percent in Mexico. Household debt represented a *** percent of disposable income in the UK and *** percent in the U.S..

Key information about United Kingdom Debt Service Ratio: Households

• United Kingdom Debt Service Ratio: Households was reported at 9.000 % in Sep 2024
• This records an increase from the previous number of 8.900 % for Jun 2024
• UK Debt Service Ratio: Households data is updated quarterly, averaging 9.700 % from Mar 1999 to Sep 2024, with 103 observations
• The data reached an all-time high of 13.300 % in Sep 2008 and a record low of 8.900 % in Jun 2024
• UK Debt Service Ratio: Households data remains active status in CEIC and is reported by Bank for International Settlements
• The data is categorized under World Trend Plus’s Association: Banking Sector – Table RC.BIS.DSR: G2 Households (HH) and Non-Profit Institution Serving Households (NPISHs): Quarterly

Household debt to GDP, in percent in the United Kingdom, September, 2024 The most recent value is 77 percent as of September 2024, a decline compared to the previous value of 77.2 percent. Historically, the average for the United Kingdom from March 1990 to September 2024 is 77.97 percent. The minimum of 55.9 percent was recorded in March 1990, while the maximum of 98.2 percent was reached in March 2010. | TheGlobalEconomy.com

Most of the overdue money for bills and loans of people who sought debt advice in 2022 came from mortgage payments. On average, clients who came to the charity StepChange seeking credit counseling had nearly ***** British pounds for rent payments past due. Meanwhile, that group of people also owed over ***** British pounds on payments for dual fuel, which is a type of utility where households get their gas and electricity supply from the same provider.

Key information about United Kingdom Domestic Credit

• United Kingdom Domestic Credit reached 4,866.2 USD bn in Dec 2024, compared with a reported figure of 5,014.0 USD bn in the previous month
• UK Domestic Credit data is updated monthly
• It is available from Jan 1987 to Dec 2024 and averaged 3,597.6 USD bn
• The data reached an all-time high of 5,660.2 USD bn in May 2021 and a record low of 520.7 USD bn in Jan 1987

CEIC converts monthly Domestic Credit into USD. The International Monetary Fund provides Domestic Credit in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions.


Further information about United Kingdom Domestic Credit

• In the latest reports, UK Domestic Credit represented an drop of 1.3 % YoY in Dec 2024
• Money Supply M2 in UK increased to 3,858.8 USD bn YoY in Dec 2024
• UK Foreign Exchange Reserves was measured at 112.5 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 1.4 Months of Import in Oct 2024
• The country's Non Performing Loans Ratio stood at 1.0 % in Dec 2022, compared with the ratio of 1.0 % in the previous year
• Household Debt of UK reached 81.6 % in Sep 2024, accounting for 81.6 % of the country's Nominal GDP

Between 2006 and 2025, year-on-year change consumer loans in the United Kingdom (UK) fluctuated more than mortgage lending. After a very sharp fall in mid to late 2020 and early 2021, the value of consumer credit began to increase again, reaching a positive annual growth rate of 6.4 percent in January 2025. Meanwhile, the year-on-year change of mortgages kept growing in 2024 from -0.1 percent in January 2024 to 1.8 percent in January 2025.

This statistic shows household gross debt as a share of income in the United Kingdom (UK) from first quarter 2017 to the first quarter 2024. Such debt is expected to show year on year growth until the end of the period.

Key information about United Kingdom Non Performing Loans Ratio

• United Kingdom Non Performing Loans Ratio stood at 1.0 % in Dec 2022, compared with the ratio of 1.0 % in the previous year
• UK Non Performing Loans Ratio data is updated yearly, available from Dec 2005 to Dec 2022
• The data reached an all-time high of 4.0 % in Dec 2011 and a record low of 1.0 % in Dec 2021

The International Monetary Fund provides annual Non Performing Loans Ratio.


Further information about United Kingdom Non Performing Loans Ratio

• In the latest reports, Money Supply M2 in UK increased 0.7 % YoY in May 2023
• UK Foreign Exchange Reserves was measured at 116.0 USD bn in May 2023
• The Foreign Exchange Reserves equaled 1.9 Months of Import in Apr 2023
• The country's Domestic Credit reached 4,978.3 USD bn in Apr 2023, representing an drop of 3.3 % YoY
• Household Debt of UK reached 2,756.4 USD bn in Mar 2023, accounting for 88.0 % of the country's Nominal GDP

Private Debt to GDP in the United Kingdom decreased to 75.70 percent in 2024 from 79.30 percent in 2023. United Kingdom Private Debt to GDP - values, historical data, forecasts and news - updated on July of 2025.

Consumer Credit in the United Kingdom decreased to 859 GBP Million in May from 1944 GBP Million in April of 2025. This dataset provides the latest reported value for - United Kingdom Consumer Credit - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

United Kingdom UK: Gross External Debt: Other Sectors: Households and NPISH data was reported at 0.000 USD mn in Dec 2016. This stayed constant from the previous number of 0.000 USD mn for Sep 2016. United Kingdom UK: Gross External Debt: Other Sectors: Households and NPISH data is updated quarterly, averaging 0.000 USD mn from Mar 2016 (Median) to Dec 2016, with 4 observations. United Kingdom UK: Gross External Debt: Other Sectors: Households and NPISH data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s UK – Table UK.World Bank: QEDS: Gross External Debt: by Sector and Instrument.

In 2022, the most common reason for having personal debt by people seeking financial advice in the United Kingdom (UK) was lack of control over finances. According to the figures, ** percent of clients who sought debt counseling with the UK charity StepChange had debt problems because of the increase in the cost of living. Personal debt is defined as a financial obligation owed by an individual or a household.