Personal loans used for dental treatment

Tue, 07 Jul 2009

Brits are taking out personal loans with high interest rates in order to afford dental treatment such as tooth crown fitting and cosmetic whitening .

According to new research by Sainsbury's Bank, 6,900 personal loans worth £60.2 million have been taken out in order to partially or wholly fund dental treatment since the start of 2007.

The average personal loan taken out to fund such treatment was for £6,492 and the financial services firm said that the high costs of dental work has forced people to take the drastic measure of getting into debt .

Steven Baillie, head of loans at Sainsbury's, said: "If you decide that a loan is the best way to pay for expensive dental procedures, make sure you shop around to get the best rate and payment term as it could save you a considerable amount in repayments ."

A personal loan recently announced by Marks and Spencer gives customers ten per cent of the interest they have paid back once the 36-month term is over.
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