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- Some lenders may allow repayment holidays
- 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
Credit subject to status & affordability assessment by Lenders.
LoanTube is a credit broker and not a lender
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 obtain a loan through LoanTube.
3 Things to Know About Wedding Loans
With weddings costing so much, you might be feeling concerned about taking out that much money from a lender.It’s natural – after all, we’d all rather have the money up front. However, 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 will be 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 have.
Two, this is a competitive market.. Each wedding loan provider in the UK has their own “profile” which clearly denotes the type of customer they would like to work with. The closer you are to a lender’s profile, your chances of loan approval increases. Brokers like LoanTube understand the profiles that each of the lenders on our panel consider.
Three, there’s nothing wrong with approaching a lender directly. 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 multiple lenders, they’ll run a credit search every time. The more credit searches you have against your name, the less likely you are to get the wedding loan you want.
When should you Take Wedding Loans?
- To meet emergency expenses that usually comes up during a wedding
- When you can easily repay the loan amount*
- If the funding received by your friends and family is not sufficient
- When your job is permanent and stable
When should you not Take Wedding Loans?
- To cover an expense that is extravagant
- If you have some savings left, use it rather than opting for a loan
- If you have debts and other loans on your name already
- If you don’t have full time employment or good income sources
FAQs on Wedding Loans
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 for my wedding loan?
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?
If we have all the information we and our lenders need, a “yes” or “no” answer from lenders who are willing to lend you with their APRs/quotes will be displayed on your screen on a real-time basis.
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?
How does LoanTube make money?
Do you offer wedding loans with no credit check?
Am I obliged to take any offer your lenders make to me?
Why Trust LoanTube?
LoanTube is different. We try to bring you the cheapest possible rates that are available amongst our partner lenders. Although we cannot guarantee that we will find you a lender, you really do have better chances of finding a suitable loan with us because we work with multiple lenders.
How does it work? Our clever computer system compares real-time offers made directly by the lenders. This is all done in real-time and, once we have all the quotes, we will display the offers with their terms and conditions to you.
Taking out Loan and Change of Mind
It is up to you if you want to go ahead and take out of the loan. Please read the terms, conditions, and costs (including APRs and other fees/costs) of the loan to decide whether its right for you. If you accept, a loan agreement will be made between you and the lender but if you change your mind, you can cancel it within 14 days.
In the vast majority of the cases, the quote you see on our offer screen is the quote you get. Occasionally, a lender may need to ask additional questions and do additional checks on your application. Depending on the information you give or they obtain from their sources if that makes your application a significantly riskier, they may change the APRs/quotes of the loan, which could make it more expensive, but you are free to reject such offers. They may also withdraw the offer of a loan.
Our Service is Free
LoanTube’s service is free regardless of whether you find a loan or not, and whether you decide to take up the offer. Under no circumstances, you will pay anything for our services. We receive payment from the lender in the form of a commission whenever a loan is taken out by a customer using our service.
How to Apply
You can apply for an unsecured personal loan with us anytime. It will not take much time to complete our loan application form. To start, click here.
Representative APR example
We compare loans that can be paid back over terms of between 1 month and 25 years. The APR interest rate you will be charged depends on your personal circumstances, and will be between 3% and 299%.
This is a representative example of what it may cost: a Loan of £7,500 over 60 months at 3.3%, APR would equate to monthly repayments of £135.60, and the total cost of the loan that you pay back would be £8,136.22.