Popularity in cosmetic surgery loans soars
Recent industry data reveals that cosmetic surgery has fast become one of the premier purposes for consumers acquiring personal loans.
Accordingly, almost 1 million Brits are planning to have some form of surgical procedure carried out over the next 12 months and are expected to borrow in excess of 1 billion pounds in the process. The study further suggested that Rhinoplasty, liposuction and denture remodelling are amongst the most common procedures for UK loan shoppers.
Commenting on the findings, one expert suggested that an increased obsession with celebrity was one of the primary reasons for the rising trend. Other reasons include advancements in the way in which such procedures are carried out, which have effectively reduced the cost of such operations and made self-modification assessable to the masses.
However, certain consumer welfare groups have expressed deep concern towards the rising trend, stating that some individuals who undergo surgery may actually require psychological help. It has been suggested that loans of this nature should not be made so readily available and the possible introduction of a pre-application screening process may be appropriate. The practicalities of carrying out such screenings however, remains to be seen.
