From 2018 to 2020, most low-income households in Great Britain had financial debt, but few of them had any property debt. In contrast, wealthier households had similar shares of property and financial debt. Households from the third to the sixth deciles had the highest proportions of indebtedness. Meanwhile, 17 percent of households in the first decile had problem debt, a much higher share than any other group.
Share of households with debt in Great Britain from 2018 to 2020, by wealth deciles
Characteristic
Property debt
Financial debt
Total debt
Problem debt
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Since March 23, 2020 all interviews were done by telephone.
Method of interview
Questionnaire and personal interview
Supplementary notes
Estimates have been suppressed when there were fewer than 30 unweighted cases.
In the survey, households are defined as being in problem debt if they have liquidity problems ("household debt repayments represent at least 25% of net monthly income and at least one adult in the household reports falling behind with bills or credit commitments, or household is currently in two or more consecutive months arrears on bills or credit commitments and at least one adult in the household reports falling behind with bills or credit commitments") or solvency problems ("household debt represents at least 20% of net annual income and at least one adult considers their debt a heavy burden").
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Office for National Statistics (UK). (January 7, 2022). Share of households with debt in Great Britain from 2018 to 2020, by wealth deciles [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1293219/households-with-debt-great-britain-by-wealth/
Office for National Statistics (UK). "Share of households with debt in Great Britain from 2018 to 2020, by wealth deciles." Chart. January 7, 2022. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1293219/households-with-debt-great-britain-by-wealth/
Office for National Statistics (UK). (2022). Share of households with debt in Great Britain from 2018 to 2020, by wealth deciles. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1293219/households-with-debt-great-britain-by-wealth/
Office for National Statistics (UK). "Share of Households with Debt in Great Britain from 2018 to 2020, by Wealth Deciles." Statista, Statista Inc., 7 Jan 2022, https://www.statista.com/statistics/1293219/households-with-debt-great-britain-by-wealth/
Office for National Statistics (UK), Share of households with debt in Great Britain from 2018 to 2020, by wealth deciles Statista, https://www.statista.com/statistics/1293219/households-with-debt-great-britain-by-wealth/ (last visited July 22, 2024)
Share of households with debt in Great Britain from 2018 to 2020, by wealth deciles [Graph], Office for National Statistics (UK), January 7, 2022. [Online]. Available: https://www.statista.com/statistics/1293219/households-with-debt-great-britain-by-wealth/
