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. Paid off the mortgage early and never had credit card debt or any other loans.

Approx £100k
Credit cards and loans mostly for private medical treatment

Mortgage only - £120k on a £500k house, between DH and me.

Mortgage only (about £100K and 15 years left). Credit card paid off (not used it for about 2 years), no loans.

Are you writing an article OP? How much debt are you in?

No Mortgage, no card debt. car loan on a Porsche 911 at just over 30K

It would be more useful to know debt to assets ratio. Someone with 0 debt and no assets is worse off than someone with £100k debt and £1M assets. Net worth is what matters, debt helps you accumulate net worth.
Debt is an enabler for growing your net worth, not a bad thing, provided you have self discipline. This is why 0% finance is so readily available and a great mechanism to use someone else’s money for free.

@Bluesername

Are you writing an article OP? How much debt are you in?

Oh! good catch🤦

£280k in mortgages (1 BTL, 1 residential) with 22 years left.
£7k credit cards (0%)

I lease my car, £300pcm

You won't find out the average debt from asking a bunch of strangers on the Internet forum - you have to remember people can write whatever they want on here - doesn't mean it's the truth.

According to The Times last year - Unsecured debt in the UK has hit a new peak of £15,400 per household

If I add up ours, including what's left on our mortgage it's around £175/180k.

I don't know anyone in real life who doesn't have debt be it from credit cards, loans, car payments, etc

135K mortgage. 4.5K credit card. £400 overdraft. The credit card and overdraft are due to my husband being made redundant twice in the last year.

None. Never had a mortgage due to inheritance from losing parent at young age. Have been very lucky with investments so never had any debt. Would happily have traded all that to have had more time with my lovely mum.

None. Just rent every month .

@Lemonsyellow

I live in London. My two-bed house - well, flat - cost me 65k in the late ‘90s. I’ve never moved since then. That’s why it was paid off ages ago.

As an aside, and another illustration as to how far away from the average Mumsnet is, I bet the property inflation your London flat has undergone is far more than the 2 bed house that I bought in the late 1990s for £32k, that is probably now worth around four times that at most?

We still have a small mortgage, but it is nearly offset with savings and because the interest rate is virtually nothing, we get more interest from a combination of £2.5k sitting in a Nationwide current account earning 5% plus premium bond winnings.

We only still have the mortgage due to adding around £20k of debt accrued due to business failure and a similar amount due to a house move to a slightly more expensive property.

Mortgage only - about 20 years' worth!

Just mortgage. We have a fairly hefty whack of savings too that we aren't paying off the mortgage due to fixed term limitations, so our net debt is roughly equal to our combined income. So while the mortgage is numerically relatively high, I don't consider it a high level of indebtedness.

We've got £1000 debt in total which is from our wedding. It'll be paid off by next year though as we only recently married and don't spend much. It's been worse before though, no shame in it. Sometimes it's how life goes.

Currently down to under £2k of overdraft which I'm trying to get rid of. Always struggled with money management and thus will likely never be able to get a mortgage. Always managed to make large rent payments but would be unable to get a mortgage for less a month

@Bluesername

Are you writing an article OP? How much debt are you in?

It would be quite a good article if it was about research, data quality and the importance of selecting representative samples if you want the results to reflect the population at large with any accuracy.

Pre-Covid zero debt but lifetime renter.

Post-Covid 13k on loan and credit card, set to rise to between 18 and 25k depending on how much the divorce lawyers fleece me for.

Average when it comes to debt is pretty meaningless. Some people are in a dire situation through no fault of their own, some people are born rich. We all get a unique return on our investment into life.

None - thank you MSE, at its worst I owed £10k on a credit card.

@Rangoon

None - own house outright. Pay off credit card in full every month.

Same here.

Was deeply in debt once - worked like a Trojan to pay it off. Never gone down the route since.

If we can't afford it, we don't get it.

Not much in savings, but no debt to keep me awake worrying all night.

We have mortgage and a personal loan for car. Only 5 years in so still lots to pay.

About 500k of secured debt

£0