You deserve to have a wedding as memorable as the wonderful person you’re marrying. Your wedding day may be one of the biggest days of your life, and as such should be filled with happy memories. Sadly though, weddings are getting increasingly expensive.
Research has shown that the average cost of a wedding in the UK in 2019 was £31,974.
Ideally, you would use your own savings to pay for your wedding. Unfortunately, that isn’t an option for many. A guarantor wedding loan is one option to spread the cost over months or years and it could help you make your special day a reality.
Wedding loans could be used to cover the whole cost or part of the total expense of the ceremony and reception.
The cost of a wedding today, compared to years or decades ago, is enormous. Where it used to be traditional that the bride’s family paid for the ceremony, it is now increasingly a group effort. The costs of venues, photographers, catering, wedding planners and dresses all add up, and some of these may expect you to pay in one sum.
A loan for a wedding can cover more than £10,000, depending on the lender. So, you could pay for an entire ceremony or a significant part of it; even if you have a poor credit history, you could still secure a loan.
If you’re looking to borrow money for your wedding day there are certain scenarios that may stop some lenders allowing you to borrow money. Just because you’ve been rejected by one of these lenders, or you have a bad credit score, it doesn’t mean you can’t get the money to make your dream day a reality.
A guarantor could be an excellent way to fund your perfect wedding. Having a guarantor on your loan increases the likelihood of being accepted for the loan, and also means lenders may keep rates lower than they would for other bad credit loans.
So what exactly is a guarantor? A guarantor is someone who will vouch for you and make up any of the repayments that you miss. Your guarantor is generally someone you know and trust but it can’t be your partner. If you want to know more about who can be a guarantor, check out our guide.
There are a number of advantages to using a guarantor loan to help fund all or part of your wedding. A wedding loan may well be the solution to paying for your ideal wedding.
While this all may sound great, it’s worth noting that there are a number of potential disadvantages in taking out a wedding loan:
Always make sure you can afford to pay back a loan before you apply for it. Failure to do so can have lasting consequences.
We want to help you have the most perfect wedding you can possibly have. As experts in guarantor loans we can help you find the best wedding loan for you. Compare guarantor wedding loans using the tool on our homepage.
If you are ready to apply for a wedding loan then you can do that through us too, and you can start planning your dream wedding today.