The wedding loan guide
Never have two words sounded quite so far apart from each other. First you have ‘wedding’ – a word that makes you think happy thoughts. Then you have ‘loan’ – an ugly word that smells of debt. If you put them together to get ‘wedding loan’ – it still doesn’t look great. But they’re not as bad as you may think. If you need some money to finance your big day, a wedding loan is a perfectly viable option.
Let us quickly guide you through the ‘why, what and where’ for wedding loans.
WHY would I take a wedding loan?
A wedding loan is for couples that don’t perhaps have huge financial assistance from other parties such as the father of the bride. Couples are much more financially independent than they have ever been, so more and more are choosing to pay for their own wedding. Of course, not everybody can afford to do that, and that’s where a wedding loan comes in.
It is now possible to have a wedding without the worry of racking up huge debts in the future. A loan can free up some cash so you can have the big day you always dreamed of.
Wouldn’t it be easier had the entire cost of wedding been broken into a number of parts and repayable in small instalments? A wedding loan intends to do this with the expenses incurred during weddings, and therefore give you one less thing to worry about. WHAT do I need to qualify for a wedding loan?
The wedding loans with the best rates are similar to secured loans, so you would need to be a homeowner as the loan is secured against your home. Alternatively, you can get a wedding loan without any collateral – the loan providers will vary in their rules, so you need to take each lender as they come.
If you don’t have a good credit history, it’s not necessarily the end of the line. Many loan providers do offer financial assistance for weddings at higher interest rates. Again, it’s a case of shopping around to see what you can get.
WHERE do I get a wedding loan?
Well, funny you should ask that – any of the links within this article should provide you with an appropriate wedding loan. Click through to a few, compare rates and go for the one that suits you best.
You shouldn’t take a wedding loan without bearing in mind the financial repercussions both now and in the future. You can consult independent financial advisors for a more detailed explanation of wedding loans.
You can also learn more from the loan-provider sites – much more than we can tell you here (we’re a wedding fashion website, remember!), so it’s worth having a look around.
Click here to go back to the planning homepage – where you can discover advice for all the other aspects of your wedding – and not just a wedding loan!