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Proposals 'can cost more than £2,000'

An estimated 1.8 million single Britons are planning to pop the question to their partners this year, a new survey claims.

The poll by internet bank Cahoot suggests that the average proposal will cost £1,218, with 1.5 million leap year couples spending around of £1.8 billion on special venues, once in a lifetime experiences and engagement rings.

With the growing trend for spending large sums on proposing, some Britons may take out loans this year to pay for whisking a loved one away to a special venue (average cost £743), treating them to a once in a lifetime experience (£573), engagement rings (£347) and meals (£105).

Matthew Timms, Cahoot director, commented: "Proposals can be expensive, especially if you're splashing out on a special event to mark the occasion. Of course we can't guarantee that everyone will say yes, but a bit of careful financial planning should ensure that the proposal runs as smoothly as possible!"

This year is a leap year and 703,000 British women are planning to seize the day and propose on February 29th 2008, having been with their partners for an average of four and a half years.

With both Valentine's Day and the leap year this month, some Britons may find their finances stretched romantically over the coming weeks.

See how much you could borrow with an unsecured loan from Lombard Direct.

© Adfero Ltd

05/02/2008 14:53:41

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