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- Some lenders may allow repayment holidays
- Better rates for higher amounts borrowed
- You can add the honeymoon cost
- You can borrow months in advance of the big day
Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK
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Are you thinking how we make money then? – We receive a fee or commission from lenders whenever you use LoanTube to find you a loan.
3 things you need to know about wedding loans online
With weddings costing so much, you might be feeling concerned about taking out that much money from a lender. It’s only natural – after all, we’d all rather have the money up front. But that’s only true for a handful of us so, if you are considering taking a wedding loan out, what three things does LoanTube think that it’s important for you to know?
One, you may feel tempted to apply for a loan to cover the entire cost of your wedding. That’s absolutely fine and we’d love to have the chance to work with you on finding the right loan from the right lender. However, you can reduce the amount of money you take out and the interest that’s payable on your loan by using any available savings you’d feel comfortably in spending on your wedding.
Two, this is a competitive market and it pays to use LoanTube to shop around. Each wedding loan provider in the UK has their own “profile” – that’s the type of customer they like to lend to. The closer you are to a lender’s profile, the more you’ll be able to borrow and at the cheapest possible rates. Brokers like LoanTube understand the profiles that each of the lenders on our panel uses so take advantage of our insider knowledge.
Three, there’s nothing wrong with approaching a lender direct. Be careful though because if you choose a lender whose profile you don’t fit, you might be turned down or get a loan offer you don’t find attractive. If you keep applying to lender after lender, they’ll run a credit search on you every time. And the more credit searches you have against your name, the less likely you are to get the wedding loan you want.
When you should take Wedding Loans
- Spread the cost of your wedding over up to 5 years
- You choose the length of time you need to repay the loan
- Many of our borrowers get multiple loan offers – choose the one to suit you
- No early repayment penalties should you be able to pay the loan off early
- No-one needs to stand as guarantor for the loan
When you should not take Wedding Loans
- Please don’t take out a loan if it causes you hardship
- Some lenders may charge you a default fee if you miss a payment
- Your credit score will deteriorate if you can’t pay back the loan
Frequently asked questions about Wedding Loans online
Can you accept applications from people under the age of 18?
Do I need to have a job?
Can I make a joint application with my spouse/civil partner-to-be?
Can you work with people who have been declared bankrupt, who are in an Individual Voluntary Arrangement, or who are on a debt management arrangement?
What information will I need to provide you with for my wedding loan application?
Do I need to find someone else who will pay off my loan if I can’t do so?
Will you give me an answer as quickly as my other half when I popped the question?
Does LoanTube lend me the money?
Can you tell me about how you actually match a lender with me?
How much does the LoanTube service cost me?
Do you offer wedding loans with no credit check?
Am I obliged to take any offer your lenders make to me?
Why apply through LoanTube and not somewhere else?
At LoanTube, we do things differently and the person who benefits the most from that is – YOU!
Once you’ve submitted your application, LoanTube conducts a credit search on you. After this, we’ll then show your credit report together with the details you’ve given us during your application together only to the FCA-approved lenders on our panel that we know will want to lend to you.
They’ll then get back to us with their decisions – “If they can lend to you and, if yes, then what is the APR”. There may be multiple offers from different lenders. Once you accept a particular offer, the APR shown to you will be locked in.
What makes LoanTube different? Every single lender who gets back to us with a YES wanting you as their newest customer will actually compete for your business. How does this work? Lender X says “we’ll offer this APR for this loan” and then Lender Y says “we can do better than that – this is what we’ll offer you instead”. This “bidding system” can really make the loans cheaper for you. We do all the hard work for you – it’s that simple.
And yes, all this is done in real-time and all automatically. To start your application, please click here.
Representative APR example