Britain's personal debt mountain hits record high of £1,429,624,000,000
Date published: 02nd December 2013
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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