Wedding Loans
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3 steps is all it takes!
Your wedding is the most beautiful day of your life – but an unending list of expenses may hamper your wedding buzz. Step into marital bliss with LoanTube – compare real rate loan offers from multiple lenders that match perfectly with your expectations, just like your better half!
Step 1
Share your desired loan amount and term with us.
Step 2
Tell us more about yourself. Spare no detail!
Step 3
Explore real-time offers from verified lenders.
We've partnered with the best in the business
Offers from highly reputed FCA – certified lenders to help with your financial needs
Smart budgeting for the money-savvy duo
Leave the number crunching to us so that you can bring your dream wedding to life without any financial strain.
Check your affordability with our Wedding Loan Calculator.
Wedding loan calculator
What is the purpose of your loan ?How much do you wish to borrow?
What repayment term would you like to choose ?
Representative Example
Loan Amount
£2,600
Loan Term
3 Years
Total repayment
£4,559.66
Monthly repayment
£126.66
RAPR
49.7%
Interest
41% p.a (fixed)
*The rate you get will depend on your individual, financial circumstances. Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK.
What expenses can I cover with a wedding loan?
Choose from a range of wedding loans to cover your expenses smoothly:
Here’s how you can finance your big day
Wedding Loans
- Collateral-free personal loans for your every need
- Customisable loan terms to give you more flexibility and control over repayments.
- Affordable monthly repayments
- Repayment failure could lead to credit score damage
Use Your Savings
- Create a savings pot to store funds for your wedding day.
- It may be a while until you reach your savings goal. So you may have to put off the wedding until then.
- It may not be a good idea to tap into years’ worth of savings and pay a lump sum towards your wedding.
- You might have to re-align your wedding such that it doesn’t exceed the budget you’ve set aside for the big day.
Interest Free Credit Cards
- High cost credit cards with a zero-interest promotional period
- Limited interest-free period (up to 2 years)
- High interest rates after the expiry of the interest-free period
- You may accrue a huge interest on the credit card along with credit score damage.
Make the promise of a lifetime with LoanTube
It only takes two to make a wedding beautiful – leave the rest on to us.
Unbiased APRs
Loans with confirmed APRs and monthly repayments
Personalised Offers
Deals tailored to your needs and your circumstances
Streamlined process
One quick form to ease your financial burden
Instant decision
Blazing fast results in under 1 minute
Zero upfront fee
A passion for helping you find the right financial aid.
Diversified lending panel
Multiple lenders to meet all financial needs.
Consider this before borrowing a wedding loan
Pros
Cons
You don’t need to provide a collateral.
You may need a guarantor if you’re credit compromised.
You can tailor the terms of your loan.
You may accrue hefty interest if the repayment term is too long.
You can pay for the wedding expenses upfront.
You may not qualify for a low interest wedding loan with a low credit score.
You can repay the loan in easy monthly instalments.
Missing repayments could severely damage your credit score, affecting long-term financial stability.
Multiply your happiness, cut out the stress
Pro tips to help you apply for wedding loans:
Always borrow as per your affordability
Dispute errors on your credit report beforehand
Check the FCA authorisation of your lender or broker
Explore multiple offers before making the final call
Scrutinise the fine print on your loan agreement
Space out your applications between 30 to 45 days
FAQ'S
What is the average cost of a wedding in the UK?
As per reports, Britons spend about £30,000 to make their wedding day memorable.
While many prefer an intimate affair at the Registrar’s office, costing just £50, many opt for a lavish ceremony with their friends and family.
Thus, how much you spend on your wedding, depends on your preferences.
How does a wedding loan work?
A wedding loan is essentially an unsecured personal loan that you can borrow to cover your wedding expenses.
Wedding loans enable you to split the cost of your wedding into affordable monthly instalments, giving you additional flexibility and breathing space.
When lenders approve your loan, they usually disburse the funds directly into your bank account, allowing you to pay for your wedding expenses in a lump sum.
You will be expected to repay the loan in fixed monthly instalments within the pre-determined duration during the repayment period.
Keeping up with your loan’s repayments is crucial since a default or repayment failure can severely damage your credit score.
Besides, if you consistently miss repayments, the lender may get a County Court Judgement (CCJ) issued in your name, affecting your financial future.
How much can I borrow for my wedding?
To determine the amount that you can borrow for your wedding, consider the following factors:
- Your past credit behaviour
- Your monthly income and expenses
- Your employment status
When starting a new chapter with a special someone, it is essential to discuss some crucial aspects of your life.
Share your plan of borrowing a wedding loan with your partner to see how they feel about it, and make a borrowing decision accordingly.
What costs can I cover with a wedding loan?
Cover essential as well as overhead costs conveniently with a wedding loan:
- Wedding venue
- Entertainment (music, special appearances, etc.)
- Catering – appetizers, wine, meals, and the wedding cake
- Photography
- The bride and groom’s attire
- Wedding rings
- Transport to reach the venue
- Flowers and decoration
- Registrar fees
- Stay for guests (optional)
- Honeymoon expenses – hotels, flight tickets, food and leisure
How to talk about money with your partner?
When starting your life with a special someone, you promise them honesty.
Start your life as a couple with some honest conversations about money.
- Create a joint or separate account: Have a discussion with your partner about the most suitable solution and create a joint or separate account for the expenses you incur as a couple.
- Figure out your contributions: Your contributions to expenses, household or otherwise, can differ depending on your income. Talk about these differences and come to an arrangement that gives enough breathing space to the two of you.
- Set up a separate fund for miscellaneous expenses: You both may have personal indulgences and tastes, and using up money from the joint pot may not seem fair. Thus, setting up separate pots for your miscellaneous expenses may be the right call.
Are there other ways to finance my wedding?
While wedding loans make for a reliable and handy solution for your financial woes during a wedding, there are several ways to finance your wedding:
- Using your savings
- Using an interest-free credit card
- Using a homeowner loan, secured by collateral
- Asking friends and family for help
Paying back credit will help you protect your credit score; however, repaying money to your friends and family will help you maintain your long-term relationship with them.
Thus, it is vital to repay the funds you borrow to pay for your wedding.
Should I use a wedding loan or a credit card to finance my wedding?
Consider your personal and financial circumstances when choosing between a personal loan and a credit card to pay for your wedding.
With a good credit score, you can apply for a wide range of personal loans, which may have lower interest rates than credit cards.
Besides traditional banks and credit unions, online lenders also offer personal loans.
A credit card is a better option than a loan; when you’re spending smaller amounts regularly.
Since you can pay smaller payments each month, there is no need to worry about paying interest on large amounts.
So, suppose you’re planning to spend a significant amount on your wedding.
In that case, a wedding loan may be a more favourable option than credit cards.
Do I need wedding insurance as a contingency plan?
The concept of wedding insurance is to cover against unprecedented events, such as wedding cancellations, illnesses, venue or supplier failures, or anything else that could go wrong during or just before your wedding.
It is always better to be prepared for the unexpected, especially if you’re a perfectionist, to maintain your peace in the event of an emergency.
Many credit card companies provide couples with the option.
Still, you may have to get wedding insurance separately if you’re using a personal loan for wedding expenses.
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Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK
Credit subject to status & affordability assessment by Lenders.
LoanTube is a credit broker and not a lender.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on any debt secured against it.
Credit subject to status & affordability assessment by Lenders.
LoanTube is a credit broker and not a lender.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on any debt secured against it.