An increasing number of consumers are using
personal loans to fund surgery, a new study has revealed.
Recent research carried out by Sainsburys Finance indicated that around £12 million was taken out in order to pay for medical procedures in 2009.
Some £4.77 million of the total amount applied for - around 800 loans - was used for cosmetic surgery, with the remainder funding more conventional operations such as hip replacements.
According to recent figures from the British Association of Aesthetic Plastic Surgeons, cosmetic surgery procedures increased by 6.7 per cent in 2009 when compared to the previous year.
Sainsbury’s Finance, head of loans, Steven Baillie, said: "Although the majority of
personal loans are taken out for the usual domestic reasons such as home improvements and buying cars, a significant number, even in today’s economic climate, are used to fund more unusual expenditure such as cosmetic surgery."
However, Mr Baillie advised consumers considering surgery of any kind to conduct thorough research before signing up, as it is possible to save thousands of pounds by choosing the best deal.
