Britain's personal debt mountain hits record high of £1,429,624,000,000
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Britain's personal debt mountain hits record high of £1,429,624,000,000


From The Mail online

The amount of money owed by individuals in October stood at £1,429,624,000,000, the Bank said.

It is £29million higher than the previous high of £1,429,595,000,000 seen in September 2008, just before the financial crash hit.

However the figures do not take account of inflation, and the bank stressed that debt as a percentage of household income is not at a record high.

But new figures show that £1.27trillion is now owed in mortgages and £158million in consumer credit.

The Bank of England also revealed that mortgage approvals to home buyers have increased to their highest level in over five and-a-half years.

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