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Loans for strange purposes

Loans for Strange Purposes

Taking out loans has become so common in the UK these days. People want to enjoy all that modern life has to offer and are prepared to take on various loans to finance their lifestyle. The boom currently being experienced by the consumer credit industry is proof of this. Most people borrow money for standard reasons such as to purchase a house or car, set up a business, go to university, or carry out essential home improvements. However, there is a small but increasing number of people who seek strange loans or loans for strange purposes.

A recent study into the purposes of personal loans revealed some astonishing results. Here are some extraordinary examples of loans for strange purposes:

Plastic Surgery

The first instance of strange loans is actually becoming less strange.  In a recent poll, more than 50% of the people surveyed in the UK believed that plastic surgery would make them happier. Interestingly, out of this percentage of people, there is a small number that would be prepared to borrow money in order to have cosmetic surgery.  As plastic surgery can cost thousands of pounds, there are many people who may desire it, but may not be able to afford it. These are the people who would apply for strange loans and get into debt for the sake of improving their physical appearance.

As plastic surgery costs continue to rise, more and more people will get into debt because of it. It has become such a popular reason to take out loans for strange purposes that loan providers such as banks and building societies have started to include it as one of the main reasons to tick on their loan application forms, alongside car loans and other more traditional types of loans.  Maybe not so strange after all?

Buying Exotic Pets

Another “loans for strange purposes” area increasing in popularity is the applying for loans to buy expensive exotic pets. People have asked for strange loans to spend on buying highly unusual pets such as camels, reptiles, monkeys, and black stallions. These types of pets can cost as much as £10,000 to £15,000.

Other Bizarre Loan Purposes

Amongst the many strange loans applications received by a particular lender, one stood out as especially eccentric—a property developer who applied for a loan in order to convert a cave into a fully-functioning modern home!

There is also the strange loans case of a medieval knight enthusiast who applied for a loan in order to fulfil his deepest wish to buy and own a suit of armour for £5,000.

The Final Word

An increasing number of loans for strange purposes are being created and offered to all sorts of people these days. It has also become easier for borrowers to get approval for strange loans for all kinds of reasons.

In the past, you had to provide solid proof that you could afford the repayments on any strange loans you were given. Nowadays, there are all manner of bad credit loans and loans to finance more frivolous needs such as lavish weddings and dream holidays.  It is no wonder that borrowers are becoming more brave and asking for strange loans to fund weird and wonderful purchases.  It will be interesting to see how many more strange purposes can be invented for loans for strange purposes in the future.

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