Household Debt: Economic Indicators page - Commons Library Standard Note

Published 02 August 2013 | Standard notes SN02885

Authors: David Hough

Topic: Economic situation, Financial services

• Total net lending to individuals (excluding student loans) was £1.5 billion in June 2013. Net lending has been relatively low since mid-2008.

• The average Standard Variable Rate (SVR) has been rising gradually for some time – in June 2013 it was 4.38%, compared with 4.22% a year before.

• In contrast fixed mortgage rates have been falling over the last year – the average fixed mortgage rate was 2.63% in June, compared to 3.74% the year before. The average fixed-term variable (discounted) rate was 2.91% in June (compared with 3.53% the year before). These figures are for a loan to value ratio of 75%

• There were 25,717 individual insolvencies in England and Wales in Q2 2013, a 6.1% decrease on a year earlier. These figures are not seasonally adjusted and are a provisional estimate.

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