Wedding Loans

Wedding Loans

Find your Freedom with a wedding loan

  • Rates from only 3.6% APR
  • No impact on credit score
  • Quotes tailor-made for you
  • Decision in minutes

A wedding should be one of the happiest days of your life, and with the venues, themes and styles of ceremony becoming more and more extraordinary, your perfect day can seem out of reach. A wedding loan is taken out to make sure that you and your partner can achieve the dream day that you crave, at a cost you can afford.

Representative 15.9% APR (Variable)

Representative example: If you borrow £7,500 over 5 years at a Representative APR of 15.9% and an annual rate of 15.9% (fixed) you would pay £177.82 per month. Total charge for credit will be £3,169.20. Total amount repayable is £10,669.20. Minimum repayment period is 12 months. The %APR rate you will be offered is dependent on your personal circumstances. Freedom Finance is a leading credit broker and not a lender.

Types of wedding loans

Wedding loans can be taken in a variety of forms, but borrowers must remember to apply for only what they can afford to pay back. It is not a good idea to begin married life in huge amounts of debt or financial difficulty. The best thing to do when planning your wedding is to first set a budget, and stick to it. Begin by listing the essentials, such as the venue, dress and rings and use that as a start to build on additional extras to personalise your day. Don’t forget to factor in your honeymoon; some people take out a wedding loan to cover the cost of the honeymoon so that the couple don’t need to worry about money on their relaxing holiday.

Personal loan

An unsecured wedding loan is usually a fixed rate loan of between £1000 and £25,000 and is best for those who are not yet homeowners, or are in negative equity with their property.

Preferential rates for this type of loan will be reserved for couples with good credit ratings, have lived at the same address for a long time, have job security and a good relationship with their bank. An advantage of the personal loan fixed rate is that the repayments will stay the same, which will help with household budgeting.

Secured loan

Homeowners may wish to secure their wedding loan against their property.

By securing the borrowing against an asset, a greater amount can be borrowed, and repaid over a longer period. Because of this, the monthly repayments will be less, although the overall interest paid may be greater than a personal loan.

Peer to peer lending

Another option for a wedding loan is to consider peer-to-peer lending. Savers use peer-to-peer lending because it often offers more preferable rates than a high street bank, which in turn leads to improved interest rates for the borrowers.

Companies such as Ratesetter and Zopa are examples of these online borrowing sites. They work in a similar way to a broker and take a fee for setting up a suitable lender/borrower relationships.

This type of borrowing is only accessible to those with a good credit history. It is always advisable to check the terms offered by each peer-to-peer site before accepting an agreement. With so many options available, obtaining a wedding loan can seem as overwhelming as the day itself, which is why Freedom Finance is a great first step.

Our footprint free soft search tool allows potential borrowers to obtain accurate quotes based on individual circumstances. Freedom Finance aims to protect their customer’s credit rating by marking the file only when a formal application is made, which is based on individual criteria, reducing the risk of any future difficulty obtaining credit as Mr and Mrs!

Need guides to borrowing?

Our aim at Freedom Finance is to provide you with the information you need to make educated decisions when it comes to your borrowing and your money. The online financial market place is filled with conflicting, jargon-filled information about which loan product is the right one for you.

These deals may look attractive, but many of them apply only to those with an outstanding credit history. In reality, the best deal on offer might not be available to you. With our comprehensive finance guides, we aim to equip you with the know-how to make the best decisions about your borrowing and your money.

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Whether you're planning on some home improvements, replacing your car or simply getting your finances in order, a loan from Freedom Finance could be more affordable than you think. Use our calculator above to find the ideal loan for you. All quotations given are for illustrative purposes only. Credit subject to status. The rate you are offered will depend on your personal circumstances, credit assessment procedures and other related factors.