Is the situation in the UK really that bad?
#511
Re: Is the situation in the UK really that bad?
Well there you go, I was better off under Thatcher, so it's horses for courses.
So, to summarise (to save people reading 34 pages), the UK is
Great or crap
Full of beautiful countryside or housing estates
Full of lovely people or scrotes
Work is obtainable or not
House prices are cheap if you come from New Zealand, but not if you come from France.
Did I cover everything?
So, to summarise (to save people reading 34 pages), the UK is
Great or crap
Full of beautiful countryside or housing estates
Full of lovely people or scrotes
Work is obtainable or not
House prices are cheap if you come from New Zealand, but not if you come from France.
Did I cover everything?
#513
Lost in BE Cyberspace
Joined: Jan 2008
Posts: 41,518
Re: Is the situation in the UK really that bad?
Been in debt since I was at college under thatcher. Not gonna change now and I figure I'll enjoy what I can while I'm here.
However my sister and her family - in the UK - are currently enjoying a lovely holiday, in the Welsh sunshine, nice cottage, meals out etc - none of it on credit, all paid for by BiL working. Not everyone lives on credit it seems....
However my sister and her family - in the UK - are currently enjoying a lovely holiday, in the Welsh sunshine, nice cottage, meals out etc - none of it on credit, all paid for by BiL working. Not everyone lives on credit it seems....
#515
Banned
Joined: Jul 2012
Posts: 3,300
Re: Is the situation in the UK really that bad?
Unintelligible? (a euphemism I've no doubt!), not to a couple of others, but I'll grant they can cope with 'unintelligible' where as you have a bit of a struggle.
I tell you what Zender, you do get worked up over this 'confusion' you suffer from, don't you?
(......But of course you weren't confused at all. You went off half cocked and made a simple error. You are you, not your avatar you need to remember that. You can be a wally just like the rest of us, and you do it so well..)
I tell you what Zender, you do get worked up over this 'confusion' you suffer from, don't you?
(......But of course you weren't confused at all. You went off half cocked and made a simple error. You are you, not your avatar you need to remember that. You can be a wally just like the rest of us, and you do it so well..)
#517
Banned
Joined: Jul 2012
Posts: 3,300
Re: Is the situation in the UK really that bad?
"Welcome to the 2966 World Cup - can England end a thousand years of pain?!"
#518
BE Forum Addict
Joined: Aug 2013
Location: Eee Bah Gum
Posts: 4,099
Re: Is the situation in the UK really that bad?
#519
Forum Regular
Joined: Nov 2005
Location: UK
Posts: 191
Re: Is the situation in the UK really that bad?
August 2013
UK Personal Debt
http://www.creditaction.org.uk/helpf...tatistics.html
Outstanding personal debt stood at £1.425 trillion at the end of June 2013.
This is up from £1.421 trillion at the end of June 2012. At the end of June 2013, individuals owed nearly as much as the entire country produced during the whole of 2012.
Outstanding secured (mortgage) lending stood at £1.267 trillion at the end of June 2013. This is up from £1.263 trillion at the end of June 2012.
Outstanding unsecured (consumer credit) lending stood at £157.8 billion at the end of June 2013. This is down from £157.9 billion at the end of June 2012.
Average household debt in the UK (excluding mortgages) was £5,986 in June. This is up from a revised £5,978 in May.
Average household debt in the UK (including mortgages) was £54,067 in June. This is up from a revised £54,034 in May.
The average amount owed per UK adult (including mortgages) was £29,008 in June. This is up from a revised £28,990 in May and was around 117% of average earnings.
Average consumer borrowing (including credit cards, motor and retail finance deals, overdrafts and unsecured loans) per UK adult was £3,211 in June. This is up from a revised £3,207 in May.
The estimated average outstanding mortgage for the 11.3m households that carry mortgage debt stood at £112,548 in June.
Based on June 2013 trends, the UK's total interest repayments on personal debt over a 12 month period would have been £59.9 billion. This is equivalent to £164 million per day. This means that UK households would have paid an average of £2,272 in annual interest repayments.
The Office for Budget Responsibility (OBR) predicted in March 2013 that total household debt will reach £1.931 trillion in Q1 2018. This would mean that average household debt would reach £73,284 (assuming that the number of households in the UK remained the same between now and Q1 2018).
Total net lending to individuals by UK Banks and Building Societies rose by £1.5 billion in June 2013. Net secured lending rose by £1.0 billion in the month; net consumer credit lending rose by £0.5 billion.
UK Banks and Building Societies wrote-off £4.1 billion of loans to individuals over the four quarters to Q1 2013. In Q1 2013 itself they wrote-off £932 million (of which £385 million was credit card debt) amounting to a daily write-off of £10.21m"
It will all end in tears. 5% interest rates anyone? (Not that high, only normal)
Last edited by martinw01908; Aug 12th 2013 at 9:21 pm.
#520
Lost in BE Cyberspace
Joined: Jan 2006
Location: San Francisco
Posts: 12,852
Re: Is the situation in the UK really that bad?
"UK Debt Statistics from Credit Action
August 2013
UK Personal Debt
http://www.creditaction.org.uk/helpf...tatistics.html
Outstanding personal debt stood at £1.425 trillion at the end of June 2013.
This is up from £1.421 trillion at the end of June 2012. At the end of June 2013, individuals owed nearly as much as the entire country produced during the whole of 2012.
Outstanding secured (mortgage) lending stood at £1.267 trillion at the end of June 2013. This is up from £1.263 trillion at the end of June 2012.
Outstanding unsecured (consumer credit) lending stood at £157.8 billion at the end of June 2013. This is down from £157.9 billion at the end of June 2012.
...
It will all end in tears. 5% interest rates anyone? (Not that high, only normal)
August 2013
UK Personal Debt
http://www.creditaction.org.uk/helpf...tatistics.html
Outstanding personal debt stood at £1.425 trillion at the end of June 2013.
This is up from £1.421 trillion at the end of June 2012. At the end of June 2013, individuals owed nearly as much as the entire country produced during the whole of 2012.
Outstanding secured (mortgage) lending stood at £1.267 trillion at the end of June 2013. This is up from £1.263 trillion at the end of June 2012.
Outstanding unsecured (consumer credit) lending stood at £157.8 billion at the end of June 2013. This is down from £157.9 billion at the end of June 2012.
...
It will all end in tears. 5% interest rates anyone? (Not that high, only normal)
Rather than absolute amounts of debt, it'd be more interesting to know the value of that debt in relation to the value of the property that secures it.
#521
BE Enthusiast
Joined: Feb 2012
Posts: 862
Re: Is the situation in the UK really that bad?
Don't you know Thatcher is responsible for all of the world's ills and every politician who has come since has been completely innocent of any contribution to the UK's current financial state? Didn't you get the memo?
I'd apologize for taking the thread off-topic but it hasn't been on-topic since about Page 2. I think the title should be changed to "Who can pee the furthest?"
I'd apologize for taking the thread off-topic but it hasn't been on-topic since about Page 2. I think the title should be changed to "Who can pee the furthest?"
Unfortunately it has been very much on topic. 35 pages of the UK is doomed/it's a great place to live/it's an OK place to live.
I agree with various titles though, I have one of my own.
Well there you go, I was better off under Thatcher, so it's horses for courses.
So, to summarise (to save people reading 34 pages), the UK is
Great or crap
Full of beautiful countryside or housing estates
Full of lovely people or scrotes
Work is obtainable or not
House prices are cheap if you come from New Zealand, but not if you come from France.
Did I cover everything?
So, to summarise (to save people reading 34 pages), the UK is
Great or crap
Full of beautiful countryside or housing estates
Full of lovely people or scrotes
Work is obtainable or not
House prices are cheap if you come from New Zealand, but not if you come from France.
Did I cover everything?
__________________________________________________ ________
Just to ensure clarity on multiquoting............:
#523
Banned
Joined: Jul 2012
Posts: 3,300
Re: Is the situation in the UK really that bad?
So almost 90% of the debt is secured by property. Will it end in tears? Maybe, although the UK government seems to be doing its damnedest to prop up an overpriced property market. Otoh, the population of the UK is growing rapidly and land to build on relatively scarce.
Rather than absolute amounts of debt, it'd be more interesting to know the value of that debt in relation to the value of the property that secures it.
Rather than absolute amounts of debt, it'd be more interesting to know the value of that debt in relation to the value of the property that secures it.
#524
Forum Regular
Joined: Nov 2005
Location: UK
Posts: 191
Re: Is the situation in the UK really that bad?
So almost 90% of the debt is secured by property. Will it end in tears? Maybe, although the UK government seems to be doing its damnedest to prop up an overpriced property market. Otoh, the population of the UK is growing rapidly and land to build on relatively scarce.
Rather than absolute amounts of debt, it'd be more interesting to know the value of that debt in relation to the value of the property that secures it.
Rather than absolute amounts of debt, it'd be more interesting to know the value of that debt in relation to the value of the property that secures it.