/24-7PressRelease/ - LONDON, UK, February 26, 2006 - A recent research study reveals that the UK residents are taking more and more unsecured loans to fulfill their diverse requirements. Some people take such loans for plastic surgery; some take loans for wedding while some of them take loans to cover the cost of funeral ceremony. So, the number of people who are taking loans has remarkably increased, as they need funds to fulfill their diverse needs.
There has been a significant increase in the number of people taking out unsecured loans for weddings and plastic surgery, according to a new research.
Most of the citizens of the UK take out unsecured personal loans for debt consolidation and holidays during the month of January.
However, the research from Abbey reveals that there is a 32 per cent increase in loan applications for weddings during the first two months of the year. Besides, more loans are being taken out for a wider variety of purposes.
Most importantly, the number of people taking out loans in order to have cosmetic surgery was up by 50 per cent in the month of January, making it the fourth most popular reason for borrowing.
It was also revealed by a study that there was a ten per cent increase in the number of loans taken out to cover the costs of funerals.
Paula Ickinger, head of personal loans marketing at Abbey, said, "It's surprising just how many people are borrowing for different needs,"
She also remarked that only two or three years ago, the number of people borrowing for cosmetic surgery was very few and far between, but now it's becoming a regular phenomena for people to avail unsecured loans for this purpose.
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