Wedding LoansIt is fair to say that the cost of any wedding in the UK has gone up substantially over the last decade or so. This has led to our wedding loans being a more and more prevalent method to enable the loving couple to tie the knot. Our loan lenders plans can be used to finance a wedding and our loans range from £3,000 to £150,000 with payment options to suit your budget - so whatever your preferred style of wedding we could help you have a fabulous wedding and honeymoon without stressing over the costs of your magical day and holiday honey moon.
Don`t worry about the best route - our experienced UK based wedding loan team will confidentially discuss what you are trying to achieve and advise on the best wedding loan for you from our wide panel of lending plans. Call our finance team for free on 0800 0159 295 or call 0330 0536001 (mobile friendly) - otherwise complete the short enquiry form and we will get to work on funding your wedding via a no obligation free quote straight away.
Income is an important factor alongside credit history / credit score in any loan enquiry. So many couples decide to opt for a joint loan application to put more income into the mix and therefore enable a higher chance of being accepted jointly or the ability to take out a larger loan if required for their particular wedding. If you have a different / better credit rating than your partner then one applicant may be better.
Average Cost Of A Wedding
Believe it or not the average cost of a wedding is estimated to be over £20,000! With the loan options below you could cover the cost with affordable instalments and focus on the inevitable other areas centred around planning a wedding.
- Repayment terms can be spread from 3 to 25 years for secured loans, or 1 to 7 years for unsecured homeowner loans - to make repayments more affordable. Some panel lenders also allow extra / over payments to be made during the loan saving you some of the interest charges.
- Loan amounts are available from just £5,000-£200,000, subject to status and affordability. Talk to our loan team on 0800 0159 295 about the options here.
- Our experienced UK based & owned company`s staff will help to make the loan process as simple as possible, so you donít overstretch yourself and avoiding delays in receiving your money.
- Fixed or variable interest rates are often available so you can choose to keep to a fixed budget for a certain period of your loan.
- Plans available even if you have had credit problems in the past. Even if you have been declined elsewhere, have CCJ`s, incurred defaults or multiple mortgage arrears our lenders may well consider you - especially if you are a homeowner looking to turn your finances around.
How To Finance A Wedding
In an ideal world no one would want to borrow money towards the cost of getting married, but in todays `must have it now` society it can be considered as a necessary evil! Here at my sort of loan the lenders on our panel will consider loans from £7,500 ranging up to £200,000.
The larger loans being a secured loan means the repayment term can be spread up to 25yrs allowing the repayments to suit most peopleís budget, Although itís worth pointing out here at my sort of loan our experienced loan advisers will go through an income and affordability assessment to make sure you don`t bite off more than you can chewÖtake a look at your income and expenditure and work out what you can really afford to pay, then keep within your budget.
Of course you may want to consider your bank or building society when looking for your wedding loan. However, itís worth remembering some high street lenders will offer loans based on ďrisk based credit scoringĒ meaning the rates offered on marketing literature may not be the rates you end up with. If you do indeed find that this is the case when you apply to them - then it may be worth making a no obligation enquiry with my sort of loan just to make sure you get the best deal available.
To fund the occasion you have plenty of options:
- Use your savings
This may be the best option and will save money in the long run in interest charges but remember all that rainy day / safety net pot money may go.
- Start saving or borrow from family
Again a good option, however it depends on how long it will take to you to save the large amount of money needed and if you have some joint / single saving you can lump together. Otherwise a helpful family member who can loan you the money to get you sorted.
- Take out a wedding loan
You may want to consider taking out a personal unsecured loan or a homeowner secured loan or a second mortgage loan - the major benefit is you donít have to wait, you may even want to roll the cost of the honeymoon into it. Down side of course is loans will cost you interest.
Finding The Best Wedding LoanHere at my sort of loan we have an extensive lender panel allowing you access to lots of different lenders who advance loans for weddings. Once our experienced staff have discussed your requirements we will source the most appropriate loan product for your unique situation. You can rest assured that there will be absolutely no pressure from us for you to take up your loan if you are accepted - we will work a fast or as slow as you like. Remember if you make a loan enquiry to my sort of loan your credit standing / credit score will not be affected initially because we will only carry out a `soft foot print` or `quotation` credit search. By using this method of quoting it will not be seen by any other lender until such time as you decide to go ahead and your loan completes.
Top Tips To Obtain Your Wedding Loan
- When making your application for a wedding loan itís as well to check your credit file. We can help you with where and how to do this. There are many credit bureauís one of the most well-known is Equifax by following the simple online process you can quickly establish if you have a good or bad credit profile and what your score is. We can go through your record with you and match you to the most suitable loan we have for you.
- Donít make the application at the last minute, we have fast loan options and are efficient at processing but you should still allow plenty of time to consider your options
- It may be worthwhile to think about using your wedding loan to pay off other credit you may have such as overdraft, car HP and other unsecured loans. By incorporating this debt into your wedding loan your monthly outlay may be reduced however, its worth pointing out that by extending the loan term you will repay more interest.
Wedding Holiday Honeymoon
A honey moon is often an essential ingredient to compliment your wedding, it also enables you to escape with your spouse and leave the day to day trials and tribulations of life behind you. My sort of loans wedding loan funds are paid directly to you so you can decide where you want to go for your honeymoon holiday, for how long and who you would like to take. Some clients may opt for a UK or European holiday for the whole family, others may honeymoon on holiday in the Caribbean, United States, Australia or elsewhere on their own.
We don`t believe the days of holding your reception in the local village hall are well and truly gone but times have changed and wedding finance costs are therefore on the rise. Thankfully most wonít cost as much as Pippa Middletons wedding in 2017 that reportedly cost £250,000, if the costs are that high some parental help may be really useful.