To ask how much debt you are in?

[Sunshine3013]

Just that really.
Wondering how much debt the average person is in.. Including mortgage, loans, credit cards, overdraft?

Just curious!

None, own my house and car and we have savings.

None. I have a few £1000 in savings, but my home is rented.
My ex ran up huge debt when we were together (including pay day loans with ridiculous interest) and all behind my back. It was a major reason we split, and took me years to get out from under it. Then a few more years of putting a little bit - £20 or so - aside every week to build a safety buffer again.

110k on mortgage with 12 years to go
11k in loans for boiler, windows and car, will be down to 2k start of March.

We will reduce mortgage term when we come out of the 2 yrs left on fixed.

£53000 in mortgage. (250000 house)
£4000 in savings but planning to spend that soon on kitchen.
I can see why pp have 29k in home improvement loans. Kitchen salespeople are dreadful. They seem to think its subhuman to only spend £4000, in their opinions. 4k to me is a lot of money.
Capitalism is a powerful force. It's only when I realised I was willing to step away from my friends rather than compete with them that they (unexpectedly) accepted me as I am. There were a few years of us 'being on different paths' in their opinion. They liked bragging about how much they spent (on tic) and I didnt.

As previously stated , I cannot understand how anyone can be clear of debt and own a house outright while in their 30’s unless they have rich relatives who have helped or, tragically, their families have died unexpectedly and life insurance has covered all their costs .
Especially as house prices are so high compared to average income .
I mean , hats off to you if you have lived on crackers and water for 15 years but who can do that ??

God who are these people who’ve managed to buy their homes “outright”?!? How did they do it? Inheritance? Savings? Where do they live to be able to do that? In our area the average house is 700k.

I’m truly amazed at the figure for some mortgages here - I’m sssuming there must be a lot of you in high salary jobs, or partners?

Our household income is 75k but 210k was almost at the limit we could borrow on a previous property?

I’m 28, saving to buy my first house. 10k savings, 11k debt - car has 10k left and the rest is between cards. I could pay it off but it’s managed well, no interest on the cards and I’ve grown up with the thought I’ll always have a car payment. Dad owns the house I live in at the moment so no mortgage payment monthly

None now, other than about £70 on a credit card thanks to our Hoover breaking the other day.
7 years ago though, it was a different story! We were in debt up to our eyeballs and had many sleepless nights worrying about it. I would never go back to those days - we keep a card for emergencies such as the above, but pay it straight off when we get paid.

Jointly, we have a mortgage and still owe around £230K but house is worth twice what we owe.
Personally I owe around 10K on credit cards (mostly incurred by home improvements) but they’re interest free and I will have paid them off in 18 months.

Can’t believe how many people paid their mortgages off. Ours will last to retirement. What owe on interest free credit card/furniture we could pay from savings.

Mortgage only.
And an ‘emergency’ credit card with a 2K limit.
But no savings.
Have a decent pension pot.

Our mortgage is paid off as of last year - we've lived here 24 years and made a few overpayments to bring the term down.

I know there have been a huge number of responses, but I’m not sure I understand the question.

I have assets of about £800k (house, pensions etc) and debts of about £200k including mortgage, loan, liability for lease car etc. Not sure if that means I am £200k “in debt” or not?

none, but I am old

@user143677433 of course that means you're in debt.

[quote shouldistop]@user143677433 of course that means you're in debt. [/quote]
I’m not sure it does. It means I “have debt”. I’m not sure it means I am “in debt” in the context of the question. Yes I owe money to financial institutions, but it is money I could repay tomorrow from liquid assets. My net worth is positive. So am I “in debt”?

£225k mortgage, £8k loan and £5k on a new boiler. I clearly do not belong on MN haha

Omg it’s terrifying how much debt I’m in! £670k mortgage (but selling the rental property soon so will reduce by about £300k) and still owe about £1,500 on a loan for the new kitchen in the last house - not even the kitchen in this house - which is lovely but I couldn’t afford to change it if I hated it 🙄 Nothing else thank goodness but it’s still enough to give me sleepless nights.

£1.6m, of which £1.4 mortgage, c£100k on credit cards, and c£100k loans/over drafts etc. Looks bad when I write it down! But £300k joint income so manageable. Just.

@SmilingHappyBeaver

£1.6m, of which £1.4 mortgage, c£100k on credit cards, and c£100k loans/over drafts etc. Looks bad when I write it down! But £300k joint income so manageable. Just.

You have a £1.4 million mortgage on a £1.6 mill property?

How the heck did you get a mortgage with such a tiny deposit?

£796000k left on the mortgage and £427000k spread over 15 credit cards. All joint debt with my DH though......Seriously never seen so many debt free, mortgage free people in one place. I am joking btw but definitely not mortgage free and definitely have credit card debt.

And all that debt?

Oh I’m guessing you’re joking?!

@lifeinlimbo2020

£796000k left on the mortgage and £427000k spread over 15 credit cards. All joint debt with my DH though......Seriously never seen so many debt free, mortgage free people in one place. I am joking btw but definitely not mortgage free and definitely have credit card debt.

Gob smacked

£620,000

Mortgage. 13 years to run on mortgage. Nothing else.