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As new research reveals that parents across the UK could be facing bills of approximately £1.7 billion for their children's extra-curricular activities, some mums and dads might find secured loans a cost-effective way to support their children's out of hours pursuits.

The report by Alliance & Leicester has found performing arts classes are likely to set parents back at least £10 a week, while kitting a child out with football gear will cost an average of £1,307.

It adds holiday membership to a sports and activities camp can cost around £5,758 a year and the cost of petrol used to ferry children to and from training and matches can soon add up.

Hetal Parmar from Alliance & Leicester said: "All parents know that taking part in extra-curricular activities benefits their children and it is right that they want to support their ambitions."

Secured loans are one option open to parents. These type of loans generally offers relatively low rates of interest as the risk to the lender is reduced.