Average household debt in the UK
UK households owe around £2.0 trillion to lenders — £1,746 billion in mortgages and £253 billion in consumer credit (Bank of England). Here's how that breaks down, and what it means per household.
Total household debt
~£2.0tn
Mortgages
£1,746bn
Consumer credit
£253bn
What UK household debt is made of
Outstanding balances owed to lenders, excluding student loans. Source: Bank of England (mortgages Q1 2026; consumer credit April 2026).
Bars are each component as a share of the ~£2.0tn total. Credit cards are a subset of consumer credit, not an additional amount.
Roughly £70,000 per household — but read the caveat
Spread across the UK's ~28.4 million households, £2.0 trillion averages about £70,000 per household. This is a derived average, not an official Bank of England figure — and it's heavily skewed by mortgages. Only around a third of households have a mortgage, so a typical mortgaged household owes far more than £70,000, while renters and outright owners often owe little. Treat the per-household number as a headline, not a personal benchmark.
Secured vs unsecured: why the split matters
Mortgage (secured) debt is 87% of the total but is usually the cheapest to service and is backed by an appreciating asset. The £253 billion of consumer credit is small by comparison, but unsecured borrowing — especially the £79 billion on credit cards — carries far higher interest rates, so it costs households much more per pound owed. Clearing high-interest unsecured debt first is almost always the priority.
Debt is only half of net worth
What matters for your finances is debt set against what you own. UK median household wealth is £293,700 once debts are netted off — see average net worth by age, or add your own assets and debts in the net worth calculator.
Frequently asked questions
How much debt do UK households have?+
UK households owed about £2.0 trillion to lenders in early 2026 — £1,746 billion in mortgages (Q1 2026) plus £253 billion in consumer credit (April 2026), according to the Bank of England. That excludes student loans, which add roughly another £270 billion. The vast majority of household debt — around 87% — is secured mortgage debt.
What is the average household debt in the UK?+
Spread across the UK's roughly 28.4 million households, about £2.0 trillion of mortgage and consumer debt works out at an average of around £70,000 per household. This is a derived average, not an official figure, and it's skewed by mortgages: only around a third of households have a mortgage, so a typical mortgaged household owes far more, while renters and outright owners may have little or no secured debt.
How much consumer credit and credit-card debt is there?+
Total consumer credit — unsecured borrowing such as personal loans, car finance, overdrafts and credit cards — stood at £253 billion in April 2026 (Bank of England, seasonally adjusted). Of that, credit-card debt was about £79 billion, roughly a third of all consumer credit. Consumer credit is small next to mortgage debt but carries much higher interest rates.
Is UK household debt rising?+
Yes, gradually. The outstanding stock of mortgage debt was 2.6% higher in Q1 2026 than a year earlier, and households were net borrowers of consumer credit by roughly £1.9 billion a month in early 2026 (Bank of England). Debt is growing more slowly than during the cheap-money years, as higher interest rates since 2022 have raised the cost of borrowing.
Does this include student loans?+
No. The £2.0 trillion figure covers mortgages and consumer credit. UK student loans add roughly another £270 billion, but they work differently from other debt — repayments are income-contingent (a fixed percentage of income above a threshold), the balance is written off after a set period, and unpaid student debt doesn't affect mortgage affordability in the same way as other borrowing.
Where does this data come from?+
All figures are from the Bank of England, which publishes accredited official statistics on lending to individuals. Mortgage stock is from the Mortgage Lenders and Administrators Statistics (Q1 2026); consumer credit and credit-card balances are from the monthly Money and Credit release (April 2026). The household count used for the per-household average is from the ONS.
Source: Bank of England — Money and Credit (consumer credit, April 2026) and Mortgage Lenders and Administrators Statistics (secured debt, Q1 2026). Household count: ONS. The per-household figure is a derived average. For education only — not financial advice. If you're struggling with debt, free help is available from National Debtline and StepChange.
Related UK tools
Mortgage Calculator →
Monthly repayments, total interest and a payment-by-rate table for your mortgage.
Average Net Worth by Age UK →
Debts are netted off here — see total household wealth by age (ONS WAS).
Personal Loan Calculator →
Loan repayments and total interest, plus a credit-card cost comparison.
Net Worth Calculator UK →
Add assets and debts — see your real net worth in 60 seconds.
See your debt against what you own.
Add your mortgage, loans, savings and investments once — Richify tracks your net worth and pays down debt smarter. Free on iOS and Android.
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