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Men take out loans to fund cosmetic surgery

Published On 28 November 2006

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One in five personal loans for cosmetic surgery purposes are taken out by men, according to new research.

An interesting new study from Sainsbury's Bank has discovered that everyday around £1.8 million is spent on cosmetic surgery and it is not just women who are splashing the cash to improve their looks.

The figures discovered that this year, around £5 million will have been taken out in personal loans for cosmetic surgery and around one fifth of this total will be accounted for by men.

Steven Baillie, Sainsbury's Bank loans manager, said: "We estimate that around £5 million will have been taken out in personal loans, this year, to pay for cosmetic surgery, but as it becomes less taboo for many people, a growing number of men and women may be looking to improve their looks and fund this with loans.

"Mintel estimates a 240 per cent growth during the period 2001 – 2006 and predicts that by 2009 British adults will be making a trip to the cosmetic surgeon at least a million times a year."

The average loan size to cover cosmetic surgery is around £6,500.

 

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