Wedding Loans – What Your Need To Know

Your wedding is one of the biggest and most special days of your life, however they are also one of the most expensive. Even when you plan effectively, your money can easily dwindle away and you might find you need to stretch your budget that little bit more. Whether it’s to cover the cost of flowers or transportation, those last minute costs might be a struggle especially so close to the big day and that’s why some people consider wedding loans.

No matter how much you save or plan, sometimes those unexpected costs creep up out of nowhere. With a wedding loan you can afford all those little extras and have the ability to spread the repayments over a period that suits you. Wedding loans aren’t anything to be ashamed of either, many couples take them out, especially close to the big day.

Will A Loan Pay For My Wedding?

Unless you’re going to the bank, the simple answer is no. However, short term loans could help to cover the unexpected costs or it could even pay for your honeymoon. As with any type of loan, before taking one out you need to ensure it is affordable for you and that you can afford the repayment that are set out. Whether it’s a loan to top up the wedding fund or to cover something you hadn’t accounted for, there’s no reason not to consider a wedding loan to help cover the costs of your big day.

At Forward Finance, we offer short term loans up to £1000 and as a responsible lender, we carry out both credit and affordability checks to ensure the loan is affordable for you. We’ll work closely with you to discuss the amount you require and will work out a repayment schedule that works best for you and your personal financial circumstances.

Why Should I Take Our Wedding Loan?

We’ll be honest, not everyone needs a loan for their wedding, but not everyone is in the fortunate enough position to have a huge pot of money to pay for everything for their weddings and that’s why some people opt for loans. Wedding loans are a fixed monthly payment that you can easily incorporate into your finances and they can prove a more cost-effective solution compared to credit cards or other forms of finance. Some of the reasons people opt for wedding loans are:

• Money Upfront – With a loan you’ll receive all of the money upfront and you can set up a repayment plan that works for you. If you max out a credit card all in one go, then you could find yourself with much higher repayments or interest rates.
• Interest Rates – An interest rate will be set out at the beginning of your loan and a fixed payment amount will be agreed upon. As long as these payments are met on time, then the cost of the loan won’t increase.
• Budgeting – Loans can help you budget much easier, as you’ll know the exact amount you’ll be paying back each month.