People are increasingly using flexible finance products, such as current account mortgages, to pay f...
People are increasingly using flexible finance products, such as current account mortgages, to pay for the cost of medical procedures not usually covered by either private medical in- surance (PMI) or the NHS, according to mortgage lender Virgin One.
The lender quotes market analyst Mintel's statistics, which show more than 30,000 people in the UK have opted for laser eye surgery in the last 12 months ' treatment rarely covered by PMI or health cash plans. This has doubled demand for the procedure in the last year and, at approximately £1,000 per eye, the market is now worth more than £150m annually.
Pointing out that other pop- ular procedures such as teeth whitening and dental implants are also seldom covered by insurance, James Duffell, spokesperson at Virgin One, said people are increasingly looking to alternative methods of funding.
He said: 'Although certain medical procedures are not a matter of life and death they can substantially improve a person's quality of life. Many either resign themselves to coping with their condition or get into debt to cover medical costs. Our customers have access to cash quickly, at low cost and with flexibility over when they can pay it back.'
