Around a fifth of personal loans obtained to pay for cosmetic surgery procedures are taken out by men, according to analysis of loans data.
Sainsbury's Bank has estimated that over £5 million will have been taken out in personal loans for cosmetic surgery during 2006, with approximately one fifth of that value destined to help enhance the appearance of men.
Steven Bailie, loans manager at Sainsbury's Bank, said that cosmetic surgery is becoming less taboo for many people and a growing number are therefore looking to fund procedures with personal loans.
"Mintel estimates a 240 per cent growth during the period 2001 to 2006 and predicts that by 2009, British adults will be making a trip to the cosmetic surgeon at least a million times a year," Mr Bailie revealed.
"However these procedures can be costly and for those that take out a loan to pay for treatment, it is important to shop around for a competitive rate," he warned.
Sainsbury's Bank calculates that the average loan for cosmetic surgery is in the region of £6,500, with the most popular procedures including BOTOX®, breast enlargement, facelifts, tummy tucks and nose reshaping.
Basic treatments, such as collagen lip enhancements and botox, can cost from £250 upwards, while more extensive surgery, such as a tummy tuck, could set you back over £5,000.
© Adfero Ltd
Cosmetic surgery news : 29/11/2006