New figures from Sainsburys Finance have revealed that Brits are willing to get into debt to fund private dental treatment . Personal loans totalling £60.2 million have been taken out in the UK to fund, or partially fund, dental surgery in the UK since the start of 2007. 6,900 loans have been taken out for such purposes in that period, 2,450 of which were solely intended to pay for dental treatment . The research also found that the average sum of a loan used solely to fund dental treatment is £6,492.
The findings also revealed an increasing trend in the amount borrowed to cover the cost of dental treatment . Sainsbury’s Finance estimate that £3.3 million worth of loans were obtained in 2007 just to pay for dental treatment, a figure which rose to £9.4 million in 2008. The figures should be treated with a slight degree of caution, however, as they are only estimates, based on Sainsbury’s Finance’s market share and the value of loans for dental treatment across the market.
The findings indicated that £3.2 million of loans were taken out in the first quarter of 2009 to pay for the costs of dental treatment. Although interest rates are at a record low, it would be surprising to see the current trend continue as the economic downturn takes effect.
Consumers Getting into Debt for Dental Treatment
Wed, 08 Jul 2009
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