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How Convenient It Is To Use A Wedding Loan?

Wedding Loans | LoanTube

 

Does wedding expenses stress you out? Reduce your stress by availing a personal loan for a wedding in the UK. ⭐2 minute read ⭐Apply online at LoanTube ⭐Compare

Weddings are a grand affair and hence, it needs meticulous planning and preparation. We always dream of a fairytale wedding and often neglect the financial demands such a wedding can create. When we actually start preparing for the event, we take into consideration all the expenses that may incur.

With the emergence of unsecured credit products, it is not difficult to avail a Loan for Wedding in the UK anymore. Having a dream wedding is not impossible with these easily accessible forms of financing. Moreover, the loan doesn’t require any collateral to be pledged – that makes this option more favourable for people who are looking for ways to cover their shortfalls. Generally, there’s no such credit as a wedding loan. It is a personal loan that you take and use to fund your wedding expenses.

Many couples choose an unsecured personal loan over credit cards because the former helps them to save some amount of money. Moreover, it provides them with a breathable space. A couple does not have to think about their debt right after they say their vow if they have opted for a wedding loan. However, payment for the credit card starts after a considerable grace period but the repayment must be done in a lump sum. Otherwise, there will be charges added to it every month. And it may turn into a sudden financial pressure after tying the knot.

A credit score may pose a problem during loan application. Lenders prefer to conduct credit checks to assess loan eligibility. On the other hand, a borrower who doesn’t have a stellar credit score may apply for a Wedding Loan with Bad Credit. It is equally important to talk to your partner about the financial burden. Before you make your final decision, discuss the issues to get a more precise idea.

Maximise your options: Compare and apply for loans below with LoanTube

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Loan Amount
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£
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Loan Term
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1 Years20 Years
Representative APR
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4%1333%
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Representative APR
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1 Years20 Years

Loan Amount

£4000 -

£20000

UK Credit

Loan Term

1 -

10 years

4.8/5

4.8/5

Representative APR

22.9%

Minimum Age

21 Years

Minimum Income

£2000 per month

Representative Example If you borrow £20000 over 72 months, your representative APR will be 22.90% APR. Your monthly repayments will be £488.36 and the total amount repayable will be £35,161.92.

4.8/5

4.8/5

UK Credit

Loan Amount

£4000 -

£20000

Loan Term

1 -

10 years

Representative APR

22.9%

Minimum Age

21 Years

Minimum Income

£2000 per month

Representative Example If you borrow £20000 over 72 months, your representative APR will be 22.90% APR. Your monthly repayments will be £488.36 and the total amount repayable will be £35,161.92.

Loan Amount

£5000 -

£100000

Evolution Money Loans

Loan Term

1 -

20 years

4.5/5

4.5/5

Representative APR

25.13%

Minimum Age

18 years

Minimum Income

Not mentioned

Representative Example: Loan Amount: £30,000.00, Loan Term: 120 Months, Interest Rate: 20.98% PA (variable), Monthly Repayments: £633.03, Total Amount Repayable: £75,963.60. This example includes a Product fee of £3,000.00 (10% of the loan amount) and a Lending fee of £675.00.

4.5/5

4.5/5

Evolution Money Loans

Loan Amount

£5000 -

£100000

Loan Term

1 -

20 years

Representative APR

25.13%

Minimum Age

18 years

Minimum Income

Not mentioned

Representative Example: Loan Amount: £30,000.00, Loan Term: 120 Months, Interest Rate: 20.98% PA (variable), Monthly Repayments: £633.03, Total Amount Repayable: £75,963.60. This example includes a Product fee of £3,000.00 (10% of the loan amount) and a Lending fee of £675.00.

Loan Amount

£1000 -

£10000

1Plus1 Guarantor Loans

Loan Term

1 -

5 years

4.4/5

4.4/5

Representative APR

47.80%

Minimum Age

18 years

Minimum Income

Not mentioned

Representative example: If you borrow £3000 over 36 months at a Representative rate of 47.8% APR and an annual interest rate of 39.7%, you would pay 12 monthly installments of £143.84. The total charge for credit will be £2178.24 and the total amount payable will be £5178.24.

4.4/5

4.4/5

1Plus1 Guarantor Loans

Loan Amount

£1000 -

£10000

Loan Term

1 -

5 years

Representative APR

47.80%

Minimum Age

18 years

Minimum Income

Not mentioned

Representative example: If you borrow £3000 over 36 months at a Representative rate of 47.8% APR and an annual interest rate of 39.7%, you would pay 12 monthly installments of £143.84. The total charge for credit will be £2178.24 and the total amount payable will be £5178.24.

How do You Get a Wedding Loan?

When searching and exploring options on the internet, you may find numerous online lenders who provide such loans. The entire process of applying the loan takes place online. Hence, you do not have to put in a lot of time to gain access to these funds.

However, consider a few important things such as budget and repayment before choosing a loan. Always compare different Annual Percentage Rates (APRs) to get the best deal available in the market. And pay undivided attention to your repayment strategy. If you missed repaying the debt on time, it will severely damage your credit score. A damaged credit score often restricts your eligibility to borrow a loan in the future.

To start comparing wedding loans with various reputed lenders of the UK, click here.

 

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