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Wedding Loans

  • 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
Credit subject to status & affordability assessment.
Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK

Our comparison service is free for you to use. Yes it’s free!!

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.

Loan

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?

Unfortunately not. All borrowers must be 18 years of age or older.

Do I need to have a job?

Yes – our lenders will need you to be in a full-time, permanent, employed role.

Can I make a joint application with my spouse/civil partner-to-be?

Sorry but that’s not possible at the moment. However, there is nothing to stop both of you taking individual wedding loans if needed. You will have to make separate applications to do this.

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?

We’re really sorry but we can’t provide a service for you at this time.

What information will I need to provide you with for my wedding loan application?

There are some personal details (like date of birth and where you’ve lived for the last few years) but most of the information we’ll need is financial, for example who you work for, how much you earn, what your monthly outgoings are, and so on.

Do I need to find someone else who will pay off my loan if I can’t do so?

No. The type of loan where someone else promises to pay off any part of a loan you can’t pay off is called a guarantor loan. The unsecured wedding loans our lenders provide do not require a “guarantor”.

Will you give me an answer as quickly as my other half when I popped the question?

We don’t know how quickly they said “yes” to your proposal! However, your spouse-to-be or your civil partner-to-be will have to have said “yes” fast to beat LoanTube’s speed at giving you an answer. Once you’ve submitted all of your details, we’ll be able to tell you “yes” or “no” from multiple lenders almost straight away. For the lenders who say “yes”, you’ll see the APRs that they’re offering you – they’re all locked in and these rates won’t change. Sometimes, a lender may need to contact you to find out more information before they give you a final “yes” – if that’s the case, don’t worry as the offers you receive will stay the same.

Does LoanTube lend me the money?

No – we’re a broker. We’re licensed by the Financial Conduct Authority to match together borrowers and lenders. We arrange your loan but we don’t transfer you the money and you don’t pay the money back to us – you do that for your lender. And to ensure highest levels of industry practice across the board, we only work with lenders who have been inspected and given their licence by the Financial Conduct Authority.

Can you tell me about how you actually match a lender with me?

It’s our people and it’s science. Each of the scores of lenders on our panel are in regular touch with us. One of the many things they tell us about is the type of person they like to lend money to. Our IT people then take everything our lenders tell us and they feed it into our clever computer system. This clever piece of technology we use then takes your details and matches you to specific lenders who we know would be really happy to work with you. It’s all done within seconds!

How much does the LoanTube service cost me?

Nothing, zero. LoanTube’s mission in life is to bring down the cost of borrowing by giving you access to the very cheapest rates. All of our hard work would be undone if we found you a great loan and then slapped a fee on top for our service. You never pay us a penny. How we get paid is with a “thank you” commission given us to by a lender when a loan “completes” – in other words, when a LoanTube customer has agreed to take a loan from one of our lenders, they have signed the online form, and the money has reached their account.

Do you offer wedding loans with no credit check?

No, sorry, we don’t. We’re licensed by the Financial Conduct Authority and so are the lenders on our panel. Part of getting our license was a promise to protect borrowers from taking out loans they could not afford. To do that, we need to perform a credit check.

Am I obliged to take any offer your lenders make to me?

No. You can walk away at any time before signing the online paperwork to take your loan out.

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

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