The costs of undergoing any cosmetic surgery procedure can be very high, and breast augmentation surgeries in particular are very expensive.
According to a recent price comparison survey, the average cost of obtaining breast enlargement, breast uplift or breast reduction surgeries in the United Kingdom is between £4,300 and £5,000.
Due to the reasonably large costs associated with breast augmentation, an increasing number of clinics and other companies offer long term payment plans to aid in affording the high costs. These payment plans vary from buy now pay later schemes, low monthly payment plans and tailored breast augmentation loans.
Buy now pay later schemes allow you a fixed time in which you do not have to pay anything; afterwards, you either pay off the full amount or pay monthly installments with an interest rate.
Companies offering low monthly payment plans only require a payment of around 60-70% of the balance, whilst the rest can then be paid off in low installments with no interest rate. Finally some companies offer loans to cover the costs of the surgery, which must be repaid over time.
With boob jobs costing several thousand pounds, many people opt to spread the cost over several months. Anyone who applies for finance of any kind must meet certain requirements and loans for cosmetic surgery are no exception.
Typical requirements for finance being approved include:
The exact list of requirements will vary from provider to provider so applicants are always advised to check prior to making an application. However, if you do not meet the full criteria, some lenders offer joint applications with a partner or parent to increase your likelihood of success. Alternatively, some lenders will offer you a loan for part of the cost if you don't meet their full requirements.
If financing options for any product have been sought in the past but not repaid, or if loans have been taken and not repaid then this can impact on a person’s ability to obtain loans or credit in the future. These ‘black marks’ can remain on a person’s credit file for years and prevent companies from trusting in a person’s ability to repay a loan.
Unfortunately this means that people affected may be unable to obtain financing for cosmetic surgery too; therefore it may be useful to know of the other options available for covering the costs of these procedures.
Many cosmetic surgery clinics offer their own breast augmentation loans which can be approved faster than those of a standard loan company. Repayment terms can vary but are typically between three and five years, although it is possible to get a loan over a twelve month period. Interest rates will also vary and can range from 0% to over 15% depending on the provider, so it's well worth comparing costs.
Repayments on a £4,000 loan taken out over 5 years and with an interest rate of 7% would by £79 a month. The same loan repaid over 12 months would cost £346 per month. It's also worth remembering that a longer loan may have lower monthly payments but the overall cost will be higher. Talking to a number of lenders will allow you to get the best rate for your individual circumstances.
Despite the problems that a bad credit history can bring, it is still possible to obtain financing for a breast augmentation surgery from certain companies; there are a select few that will offer payment plans to patients with a bad credit rating, though the interest rate on these plans will often be inflated compared to other companies.
If this is not an option then patients may wish to consider the possibility of pursuing a surgery abroad, where costs are generally far lower.
Breast augmentation, for example costs anywhere from £4,300 to £5,000 in the UK; however in countries such as Cuba these prices can be as low as £700. This also brings the benefits of taking in the sights of a foreign country before undergoing surgery. However patients who are considering this as an option should always consider the importance of doing appropriate research and not jumping into a surgery without researching on which clinic to choose first.
The National Health Service may sometimes cover the costs of a patient's surgery; however this is very rare and follows strict guidelines that vary between primary care trusts and regions. Usually this surgery is reserved to people who are affected physically or mentally by their appearance or wish to undergo reconstructive breast augmentation surgery.
Have further questions about getting a finance package for your breast augmentation surgery? Why not get in touch and talk to one of our trained advisers who will be able to point you in the right direction.
Call our UK based advisers on 020 7424 3130 or alternatively fill in a few details at the top of this page to be connected with our network of clinics across the UK.
Alternately you can take a look at our breast augmentation surgery frequently asked questions section for answers to such questions as "How Can I Get A Breast Enlargement On The NHS?" and "Can I Get Breast Implants For Free?" as well as tips and advice for recovery from surgery and help to find the cheapest deals around.