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BeatTheQuote.com rounds up the seasonal reasons we give for loans

Written by Andrea San Pedro
Wednesday, 31 January 2007
BeatThatQuote.com rounds up the seasonal reasons we give for loans 31 January 2007, New boobs, a divorce, and a luxury yacht are some of the self-indulgent and life-changing purchases people make with a new loan to fend off the winter blues, according to price comparison site BeatThatQuote.com. As a nation we have become Europe’s most accomplished borrowers . Research conducted by the web site looked at the reasons people gave for borrowing money at different times of the year to see if there was a seasonal pattern. Other findings showed that debt consolidation and taking up a new hobby were popular New Year spends; a new car and DIY projects common in spring/summer; and of course organising a big Christmas providing an even greater reason to borrow money in autumn/winter. “There are clear seasonal borrowing trends; debt consolidation after Christmas and home improvements in Spring but it’s the one-offs that are most interesting as they really provide an insight into our relationship with credit – often as a way to change or enhance our lives with cosmetic surgery, a divorce or flying lessons!” commented Product Director Sophie Neary. As well as seasonal trends, BeatThatQuote.com has noticed a Mars/Venus divide in terms of why men and women borrow money. “Women appear to be far more likely to take out a loan to help them fulfil their potential,” said Sophie Neary. “Extreme examples being a boob job or a house deposit whereas men seem to borrow for more practical reasons like funding a divorce or buying a cab.” UK Loans – Reasons Given by BeatThatQuote.com applicants January, February, March* Most Common Reasons: To consolidate Christmas debts, divorce after Christmas Life change: Boob job, Tummy tuck, Laser eye surgery, Lifestyle & Leisure: Buy a violin, Join the golf club, Flying lessons, Buying a caravan, Buying a yacht/fishing boat, Private number plate, Loft conversion, Going to New Zealand to be best man at a wedding Disaster recovery: Pay tax bill, ‘I put petrol in my diesel car and need to pay to get it cleaned’ April, May, June Most Common Reasons: Car loans Life Change: Top up to help buy my mother a house Lifestyle & Leisure: Online poker, Pay off poker losses! Weight loss surgery July, August September Most Common Reasons: Cosmetic surgery (more this time of year than any other) and to pay for a wedding Life Change: Pay off wife, Buy a pub, Buy a plane, Buy a taxi Lifestyle & Leisure: House deposit, Aga cooker, Classic car/buy a TVR, School fees, Conservatory, Double Glazing Disaster Recovery: Roof repair October, November, December Most Common Reasons: Planning a big family Christmas; a new sofa, beds or other household improvements to ensure that the relatives are entertained in style. Life Change: A Vasectomy reversal for my husband, breast enlargement Lifestyle & Leisure; 40^th birthday party, Daughters’ wedding, a new garden shed, Horse box, Catalogue shopping bills, To pay for three 40 foot containers of Used Clothing in UK to export to Ghana, Vintage wine Ends. Datamonitor: UK consumer debt is double the western European average. UK borrowers account for one third of unsecured debt in Western Europe About BeatThatQuote®.com* www.BeatThatQuote.com is an online price comparison service and marketer that expertly matches buyers with product providers by directing consumers to its web site as they search on the internet for the best deals on financial products such as mortgages, credit cards and loans. BeatThatQuote collects relevant data which it then distributes to its financial services clients through its business web site, Finance Leads Online. BeatThatQuote currently focuses on the financial services industry and plans to roll out additional products before extending its business model into other industries. BeatThatQuote.com is the winner of the Growing Business Young Company of the Year award as well as being the NatWest Startups Business of the Year and Online Business of the Year winner. BeatThatQuote also reached the national finals in the Orange National Business Awards, the Women of the Future and the HSBC Start-Up Stars awards in 2006. http://www.beatthatquote.com For further information please contact the BTQ press office: Narda Shirley +44 (0)7770 888318 This e-mail address is being protected from spam bots, you need JavaScript enabled to view it Bookmark with: Delicious Digg reddit Facebook StumbleUpon What are these?

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