30 November 2006
Desperate to stay attractive in an increasingly looks-obsessed society, one in five personal loans taken out for cosmetic surgery purposes are taken out by men according to research from Sainsbury's bank.
This year alone will see £5 million spent on cosmetic surgery, with the average loan taken out for the payment amounting to £6,500.
"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," said Steven Bailie, loans manager at Saisbury's bank.
"Mintel estimates a 240% growth during the period 2001-06, and predicts that by 2009 British adults will be making a trip to the cosmetic surgeon at least a million times a year," he added.
Plastic and cosmetic surgery can be an expensive acquisition, with operations as small as Botox injections costing up to £250 a time.
For the more extreme forms of surgery, such as a tummy tuck or a facelift, consumers can be looking at a bill for £5,000, so it is little wonder that many turn to a loan for help with their funding.