Loan News Sainsbury’s Bank Men Borrow For Cosmetic Surgery
01 December 2006
Over £5 million in personal loans will be taken out this year to fund cosmetic surgery according to a report from Sainsbury’s bank – and men account for a fifth of all cosmetic borrowers.
Average borrowing for cosmetic surgery is £6,500, the figures reveal, with major cosmetic treatments such as tummy tucks and facelifts costing over £5,000 while minor corrections such as botox and collagen lip enhancements come in at around £250.
Market research analysts Mintel have found that Britons spend around £1.8 million on cosmetic surgery every day, and they will take at least a million yearly trips to cosmetic surgeons by 2009.
“As cosmetic surgery becomes less of a taboo, a growing number of men and women may be looking to improve their looks with loans,” said Sainsbury’s bank loans manager Steven Bailie.
The five most popular cosmetic surgery procedures for men in 2005 were rhinoplasty (nose re-shaping), blepharoplasty (eye bag removal), otoplasty (ear pinning and reshaping), liposuction, and face or neck lifts, according to Cosmetic Surgery Consultants.