Personal debt in the United Kingdom - statistics & facts
Personal or household debt can generally trace its origins back to mortgages, car loans, or unsecured lending, such as consumer loans, or credit cards. Overall, mortgages were by far responsible for most of the outstanding personal lending in the United Kingdom (UK). Among individuals who sought debt advice, personal loans and credit cards were responsible for most of the unsecured debt. The arrival of new technologies and forms of lending, such as buy now, pay later (BNPL), has brought along new sources of debt. In 2022, the average monthly debt of BNPL users between the ages of 18 to 24 in the UK was higher than for any other age group.
