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.

In the 4th quarter of 2024, the debt of households in the United Kingdom amounted to ***** percent of their income. This indicator shows the average level of indebtedness of the general population and their ability to repay their debts. The total value of household debt (total liabilities and loans to households) has increased annually since 2000. Debt to income ratio increased during the pandemic As we have seen here, households have been decreasing their indebtedness levels in the past years. However, the volume of new consumer lending actually soared between 2022 and 2024. Meanwhile, the growth rate of mortgages in the UK has remained lower these past years, but it has also shown an increase on amount of lending.

Indebtedness in Europe The household debt of many countries in Europe as a share of their disposable income in 2024 was over 100 percent. That was mostly the case for Northern and Western European countries, such as Norway, the Netherlands, and Denmark. Germany and Austria were some of the largest exceptions, as they were among the few countries in that part of Europe with households' debt representing less than ** percent of their income.

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.

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

Households that have liquidity problems and solvency problems only

Home Loans in the United Kingdom increased to 5340 GBP Million in June from 2213 GBP Million in May of 2025. This dataset provides - United Kingdom Mortgage Lending- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 *** percent in April 2025. Meanwhile, the year-on-year change of mortgages kept growing in 2024 from **** percent in January 2024 to *** percent in April 2025.

Data for households in receipt of Support for Mortgage Interest (SMI) loans is available in Stat-Xplore on a quarterly basis.

These quarterly experimental statistics include the number of households who are currently in receipt of the support as well as the number who have received SMI loans so far (see the background information and methodology note for an explanation of households).

The statistics are broken down by:

• Quarter
• Country, Region
• Qualifying Benefit

Geography data

Geography information may not be up to date for some households. This affects the geography statistics from April 2020.

Background information

Read the background information and methodology note for guidance on these statistics, such as timeliness and interpretation.

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Next release

Support for Mortgage Interest statistics are published quarterly. The dates for future releases are listed in the statistics release calendar.

Pre-release access

In addition to staff who are responsible for the production and quality assurance of the statistics, up to 24-hour pre-release access is provided to ministers and other officials. We publish the job titles and organisations of the people who have been granted up to 24-hour pre-release access to the latest Support for Mortgage Interest statistics.

In 2025, students graduating from English universities will have incurred an average of 53,000 British pounds of student loan debt, compared with 39,000 pounds in Wales, 28,000 pounds in Northern Ireland, and around 18,000 pounds in Scotland.

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.

As of 2025, the outstanding student loan debt in the United Kingdom reached over 292 billion British pounds, with the majority of the debt coming from England at 266.6 billion pounds, with student loan debt in Scotland amounting to 9.4 billion, Wales 10.6 billion, and Northern Ireland 5.6 billion.

The average value of mortgage loans granted in the UK since 2016 ranged between ******* British pounds and ******* British pounds. In the third quarter of 2024, the average mortgage loan amounted to nearly ******* British pounds - the second-highest figure on record after the third quarter of 2022. The overall increase in the average value of mortgages granted can be explained by the accelerated increase in house prices since the outbreak of the coronavirus (COVID-19) pandemic.

United Kingdom Mortgage Loans Repayment: OS: On Redemption data was reported at 1,278.000 GBP mn in Oct 2018. This records a decrease from the previous number of 1,360.000 GBP mn for Sep 2018. United Kingdom Mortgage Loans Repayment: OS: On Redemption data is updated monthly, averaging 1,358.000 GBP mn from Jan 1999 (Median) to Oct 2018, with 238 observations. The data reached an all-time high of 4,754.000 GBP mn in Feb 2008 and a record low of 265.000 GBP mn in Jan 2000. United Kingdom Mortgage Loans Repayment: OS: On Redemption data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KB023: Mortgage Loans: Repayment.

United Kingdom Mortgage Loans: Quarterly: Advance: Total data was reported at 71,070.000 GBP mn in Sep 2018. This records an increase from the previous number of 65,516.000 GBP mn for Jun 2018. United Kingdom Mortgage Loans: Quarterly: Advance: Total data is updated quarterly, averaging 17,292.000 GBP mn from Dec 1974 (Median) to Sep 2018, with 176 observations. The data reached an all-time high of 97,397.000 GBP mn in Sep 2007 and a record low of 1,000.000 GBP mn in Mar 1975. United Kingdom Mortgage Loans: Quarterly: Advance: Total data remains active status in CEIC and is reported by UK Finance. The data is categorized under Global Database’s United Kingdom – Table UK.KB024: Mortgage Loans by Advance: Council of Mortgage Lenders.

Household debt to GDP, in percent in the United Kingdom, December, 2024 The most recent value is 76.3 percent as of December 2024, a decline compared to the previous value of 77.2 percent. Historically, the average for the United Kingdom from March 1999 to December 2024 is 84.88 percent. The minimum of 60.6 percent was recorded in March 1999, while the maximum of 98.2 percent was reached in March 2010. | TheGlobalEconomy.com

As of October 2024, mortgages made up most of the lending to households in the United Kingdom. The amounts secured on dwellings (i.e. mortgages) reached a value of over 1.6 trillion British pounds. Meanwhile, the outstanding consumer credit amounted to 233 billion British pounds in the same period.