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Journal Article

British household indebtedness and financial stress: a household-level picture

Authors

Publication date

2004

Abstract

This article summarises the main results of a survey carried out for the Bank in September 2004 about household borrowing, housing wealth and attitudes to debt. The survey was designed to provide a comprehensive, up-to-date picture of household indebtedness. It found significant differences between homeowners and renters: renters are more likely to have debt problems, but their share of total household debt is small. The vast majority of debt is owed by homeowners, very few of whom (by historical standards) show signs of having problems at present. While 40% of total outstanding household debt is owed by those spending more than a quarter of their gross income on servicing their debts, the share of debt owed by those currently with debt problems is lower than a decade ago.

Published in

Bank of England Quarterly Bulletin

Volume

44 (4):414-428

ISSN

16

Subjects

Household Economics and Debt: Indebtedness

Links

http://serlib0.essex.ac.uk/record=b1595369

Notes

Albert Sloman Library Periodicals *restricted to Univ. Essex registered users*

#507990


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