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  • FIRST POST
    • Lars Olsen
    • By Lars Olsen 4th Dec 17, 1:30 PM
    • 2Posts
    • 0Thanks
    Lars Olsen
    Wedding Loan
    • #1
    • 4th Dec 17, 1:30 PM
    Wedding Loan 4th Dec 17 at 1:30 PM
    Hi everyone

    Me and partner are thinking of buying a house together, the house will be available on the market beginning of 2018 and available in September 2018. Now we are want to get married in October 2018, the problem is that I need 20k for the wedding and not sure how to get this as I'm a contractor (self employed) and waiting to apply for a mortgage. Should I apply for a loan after sorting out the mortgage ? or can I get a loan with the mortgage ?. I really need some advice on this.
Page 1
    • Oakdene
    • By Oakdene 4th Dec 17, 1:33 PM
    • 1,393 Posts
    • 4,180 Thanks
    Oakdene
    • #2
    • 4th Dec 17, 1:33 PM
    • #2
    • 4th Dec 17, 1:33 PM
    It still amazes me that people are willing to get into such a large debt for one day...
    Hiraeth
    • zx81
    • By zx81 4th Dec 17, 1:35 PM
    • 14,401 Posts
    • 15,197 Thanks
    zx81
    • #3
    • 4th Dec 17, 1:35 PM
    • #3
    • 4th Dec 17, 1:35 PM
    Buy the house, save up to pay for all the things the house will need, then save up again and get married.
    • enthusiasticsaver
    • By enthusiasticsaver 4th Dec 17, 1:52 PM
    • 4,856 Posts
    • 9,176 Thanks
    enthusiasticsaver
    • #4
    • 4th Dec 17, 1:52 PM
    • #4
    • 4th Dec 17, 1:52 PM
    My advice would be sort the house out then the wedding. Taking out a new mortgage and a loan at the same time for a wedding especially as high as £20k is a recipe for disaster when you don't have a regular income. I sincerely doubt you will get a lender to agree to it anyway at a favourable rate.
    1 week to go until early retirement. Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Lizabeth21
    • By Lizabeth21 4th Dec 17, 2:11 PM
    • 60 Posts
    • 47 Thanks
    Lizabeth21
    • #5
    • 4th Dec 17, 2:11 PM
    • #5
    • 4th Dec 17, 2:11 PM
    You need 20k for a wedding and not sure how to get it? My suggestion would be to live within your means and lower expectations! Wedding is one day.
    • PeacefulWaters
    • By PeacefulWaters 4th Dec 17, 2:13 PM
    • 7,308 Posts
    • 9,053 Thanks
    PeacefulWaters
    • #6
    • 4th Dec 17, 2:13 PM
    • #6
    • 4th Dec 17, 2:13 PM
    I paid £39 for my wedding.

    The divorce cost significantly more.
    • 166million
    • By 166million 4th Dec 17, 2:18 PM
    • 1,131 Posts
    • 4,782 Thanks
    166million
    • #7
    • 4th Dec 17, 2:18 PM
    • #7
    • 4th Dec 17, 2:18 PM
    Wow, yes I echo what the other said.
    Have a think about what your priorities are and why
    What will happen if you don't get married, or do it on the cheap?
    **Debt Free as of 15:55 on Friday 23rd March 2012**And I am staying that way
    377 166million Sealed Pot Challenge 2018
    My debt free diary http://http://forums.moneysavingexpert.com/showthread.php?t=3630099
    No. 90: Emergency fund £250
    • Malthusian
    • By Malthusian 4th Dec 17, 2:51 PM
    • 3,460 Posts
    • 5,302 Thanks
    Malthusian
    • #8
    • 4th Dec 17, 2:51 PM
    • #8
    • 4th Dec 17, 2:51 PM
    £20,000 for a wedding? That's 3-4 times as much as we're spending on our wedding and we can actually afford one. As in, we have the money to spend on it.

    You'll find it difficult enough getting a mortgage as a self-employed contractor without throwing a £20,000 unsecured debt into the mix.
    • Tarambor
    • By Tarambor 4th Dec 17, 5:00 PM
    • 1,761 Posts
    • 1,208 Thanks
    Tarambor
    • #9
    • 4th Dec 17, 5:00 PM
    • #9
    • 4th Dec 17, 5:00 PM
    £2k for our wedding however much of the stuff we got relatives to pay for as a wedding present. I think apart from my suit hire, the wife's dress, rings and the £160 I paid for a car everything else was covered by the gifts.
    • dresdendave
    • By dresdendave 4th Dec 17, 5:38 PM
    • 672 Posts
    • 792 Thanks
    dresdendave
    Hi everyone

    Me and partner are thinking of buying a house together, the house will be available on the market beginning of 2018 and available in September 2018. Now we are want to get married in October 2018, the problem is that I need 20k for the wedding and not sure how to get this as I'm a contractor (self employed) and waiting to apply for a mortgage. Should I apply for a loan after sorting out the mortgage ? or can I get a loan with the mortgage ?. I really need some advice on this.
    Originally posted by Lars Olsen
    No you don't, you need about £100 to get married, the other £19,900 is a want.
    • Sncjw
    • By Sncjw 4th Dec 17, 5:51 PM
    • 1,502 Posts
    • 899 Thanks
    Sncjw
    Going through process of a new house and getting married are two of the most stressful things you can do. To have them within a month of each other is bonkers.

    You don’t need 20k you want to spend that. You can do weddings on the cheap and still get what to want. Save for the wedding if you really want to get married that day.
    • Grumpelstiltskin
    • By Grumpelstiltskin 4th Dec 17, 5:57 PM
    • 2,189 Posts
    • 2,230 Thanks
    Grumpelstiltskin
    The number of times wedding loans come up


    You don't need £20.000 to get married you just want to show all and sundry you are prepared to borrow for all the unnecessary stuff that you can splash all over Facebook.

    Please get your priorities right, go for the house and then either get married on a shoestring or wait until you can pay cash .
    • Ebe Scrooge
    • By Ebe Scrooge 4th Dec 17, 7:12 PM
    • 4,016 Posts
    • 3,434 Thanks
    Ebe Scrooge
    I need 20k for the wedding
    Originally posted by Lars Olsen
    To echo what others have said here - no you DON'T NEED 20K for a wedding. My own wedding cost less than £800, all in. And my friends & family were telling me for months afterwards how it was the best wedding they'd ever been to.

    You say "I really need some advice on this" ... well, you've had some excellent advice already. Listen to that advice, or don't, it's up to you. But it's good advice. Why on earth do you want to start married life struggling to pay back a mortgage and a hefty personal loan on top ? It's pure madness, and a recipe for many future arguments, and much future misery.

    Hey, but who cares what trouble Trolls get into ? They deserve it.
    I may not know much about art, but I know what I like.
    • ViolaLass
    • By ViolaLass 4th Dec 17, 7:47 PM
    • 5,149 Posts
    • 7,148 Thanks
    ViolaLass
    Going through process of a new house and getting married are two of the most stressful things you can do. To have them within a month of each other is bonkers.
    Originally posted by Sncjw
    THIS.

    Spend what you like on your wedding - you're the one who will have to pay it back - but why on earth would you opt to organise a wedding and a house-buy-move at the same time?!
    • DCFC79
    • By DCFC79 4th Dec 17, 9:19 PM
    • 30,425 Posts
    • 19,235 Thanks
    DCFC79
    I agree woth everyone else, it is a huge amount to spend on 1 day, yes it is to be a special day but what are you getting for £20k, a marching band, a live performance from a band or a magician.

    End of the day its your wedding, can you not save up for it ?

    The money you would use for paying the loan would surely be saved up somewhere so carry on saving. Take on a second job to increase your savjngs
    Last edited by DCFC79; 04-12-2017 at 9:28 PM.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • anto164
    • By anto164 4th Dec 17, 9:22 PM
    • 135 Posts
    • 63 Thanks
    anto164
    Dont get into debt for it..
    Save up if you can. As said before, 20k is a silly amount for a wedding. I'm sure that there are ways to economise.
    • iolanthe07
    • By iolanthe07 5th Dec 17, 3:29 PM
    • 4,927 Posts
    • 4,642 Thanks
    iolanthe07
    I was a guest at a wedding in July that cost a good deal more than £20K. Torrential rain and the bride's complete emotional melt down made it a day to remember, certainly, but not one anybody would want to repeat. One of the best weddings I ever attended cost a smidgen over £500 (in 2007). You really don't have to spend much to have a really great day with happy memories.
    I used to think that good grammar is important, but now I know that good wine is importanter.
    • Herzlos
    • By Herzlos 6th Dec 17, 8:15 AM
    • 6,092 Posts
    • 5,523 Thanks
    Herzlos
    Cheap out on the wedding and spend the money on the house.

    Unless it's an Indian/equivalent wedding where you need to invite 500 guests, £20k is a huge amount of money. You'd need a combined salary of £40k to be able to get that alone, and it'll whack £20k of what you can mortgage (roughly).

    I bet you can get a very similar wedding for £5-10k and no-one will notice the difference. Ours cost £4500 all in.
    • Robin9
    • By Robin9 6th Dec 17, 8:27 AM
    • 1,974 Posts
    • 1,275 Thanks
    Robin9
    Please don't get into debt for your wedding - it's a bad way to start your married life.

    You can get married for under £500 and then have a family pub lunch.
    Never pay on an estimated bill
    • zippygeorgeandben
    • By zippygeorgeandben 6th Dec 17, 7:31 PM
    • 723 Posts
    • 909 Thanks
    zippygeorgeandben
    This is pure and simple clickbait.
    End Sep 2016 End Nov 2017
    £8236.57 £0
    (Tesco 4.8%) £0pcm
    £6185.75 £0(Zopa 4.0%) £0pcm

    £5344.50
    £2470.04 (Sainsburys 0% until 06/19) £140pcm
    £2000.00 £933.36 (Sister 0%) £133.33pcm

    Total debt
    £19.766.82 £3403.40 Original DFD May 2019.
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