A wedding can be one of the happiest days of your life and a joyful occasion for everyone involved including parents, grandparents and siblings. However, planning the dream wedding does not come cheap, with the average wedding in the UK costing around £22,000 to entertain around 150 guests.
Let’s face it, the costs of a wedding are extremely high and probably the second biggest purchase you will make after buying a house. Welcome to married life, it proves that you cannot spell the word ‘finance’ without ‘fiancé.’ Whilst most people will dip into their savings to pay for the big day, some couples will receive generous contributions from parents and family members that they can use.
However, given that there are so many costs involved, an affordable unsecured loan can be a great way to finance the special occasion. The wedding loans we offer allow you to borrow up to £25,000 and repay over 5 years, giving you a long time to pay it off – and you can always take payment holidays and repay early if you have the means to do so. Our table allows you to compare the terms of different lenders and all you need to do is select the company with the terms that suit you and you will be taken directly to their site where you can apply.
We understand how stressful organising a wedding can be and trying to keep everyone happy. There are lots of things to manage such as different contractors, family coming from overseas and you still have to get into shape and write a speech. But if you have planned everything and the costs are starting to mount, a wedding loan can help take that bit of stress away. Whether it is paying for the initial deposits or outstanding balance at the end of the party, wedding finance can help.
Our loans are unsecured meaning that you do not have to worry about putting security down like your home or your car and therefore there is no risk of losing this if you cannot meet repayments. To make it unsecured, your eligibility for a loan will be based on your credit history and affordability, looking at your employment income and expenses. But fortunately, being in a couple means that only one of you need to be eligible and there is always the chance to use the other one as a guarantor. If you have bad credit, no worries, the lenders we work with can accommodate this by making the loan term a little longer or the rate a little higher to manage the risk of default.
The finance we offer is flexible, so if you want to repay your loan early you can do so and it will probably be cheaper because you have the loan open for less time. If you consider that a lot of newlyweds receive money as gifts, you may be able to use this money immediately to pay off your loan. Simple.
If you are looking for more traditional finance, there are alternatives to wedding loans. For instance, using a 0% credit card will allow you to borrow a few hundred or thousands pounds and there are no fees during the introductory period, provided that you can pay off exactly what you have borrowed that month. A zero percent credit card can last for as long as 29 months and if you want to extend this, you might be able to transfer this to another card and pay around 1 to 3% per month.