Lloyds TSB Declined Loan

jw2003

to be brutally honest, savvy shopping could mean you getting married soon enough and your guests not even knowing the difference plus you wouldn't need to get into debt. A lot of hotels and restaurants allow you to pay monthly for room hire and/or catering, Marks and Spencers do lovely wedding cakes for around £100, bridesmaid dresses in BHS, Debenhams and Next. Be wise and the money you can afford to repay a £15k loan could easily pay for a wedding in 6 months time. It's also significantly cheaper to marry in a Registry Office. If yours is too functional and official looking it doesn't mean the one in the next council area is, or the one after that - the only extra thing you have to do is have your bands put up in both areas (we got married in a registry office 50 miles away). I am sure if you discussed the finer details of the finances with your fiancee she would agree with you, and if not then maybe you should wait a little longer

In response to your original question, if Clydesdale don't help you out then I would hold off on the loan apps for a little while

bouncydog1

Marriage is about a partnership and being together - not about a showy day. I had the big white wedding, 200 guests, flash cars etc, first time round - lasted less than a year and cost my parents thousands of pounds!

No 2 - Registry office, not even a new dress (we had bought a house and all our money was going on that) - married nearly 30 years:)

What does your fiance say about all of this - is she aware of your financial situation? If you are looking at spending your life together then you should be making a joint decision on this.

I have friends who got married and their day cost hardly anything - one friend made the dress, another made the cake, bride and another friend hand made all of the invitations, orders of service etc - another friend provided the car. It was one of the most fantastic occasions I had ever been to because the majority of people there had helped the couple achieve the day they wanted for very low cost - I doubt the entire day cost more than £1k and they went on honeymoon a little later when they had saved up the funds to pay for it without relying on loans etc.

However if you are determined to spend £10k on one day, then no doubt your next call in a few months will be the DFW board because you have your existing loan to pay, plus the wedding loan, plus the HP for the new sofa, TV, bed, carpets etc and what if your wife gets pregnant and has no income - debt can undermine the strongest relationships and break them as you turn into different people.

Sorry if this post sounds harsh but you need a reality check otherwise your a heading for misery!

LeeSouthEast

Borrow? For one DAY? That you'll be paying back for at least a couple of years?

Reality check.

woody01

You earn £30K and say 'you could easily afford to pay it back'?
£30K only equates to around £1700pm income and that isn't that great tbh....

Starting married life with needless amounts of debt is a very poor way to begin.

CHR15

The £10k loan is being added to the already obtained £5K loan for this party.

That must be about £350 per month over the next 4yrs or so.

Income is now down to £1450 per Month, take off rent (£600), bills (c.tax,elec,water, gas, phones, internet, tv) about £300 or more = £550

Now add new car (or two), holidays, fuel, servicing...not to mention food and entertainment....... and holy moly maybe even a Baby...

OP - You must be absolutely barking mad to consider this move.

ERICS_MUM

Tolian wrote: »

I have no savings, I haven't always earned 30k, and I've been spending alot recently on Christmas engagement ring, engagement parties and of course wedding deposits etc.

The reason for the loan is because we want to get hitched now instead of saving and waiting. This may not be the most practical approach but it's what we want to do.

Why not just have a small low-key wedding now using the £5k, and then start saving to pay for a luxury "honeymoon" on your first anniversary.

Personally I have always borrowed on the basis that long-term benefit (e.g. owning my house) is supported by long-term borrowing (ie a mortgage) , medium term benefit (e.g. new car) by medium term borrowing - to be repaid before you buy the next car. Short term benefit (e.g. wedding, holiday) to be paid for from savings.

To use Gordon Brown's favourite word, I believe this is the prudent approach to borrowing.

PS -congrats on getting married and I hope that what ever you decide, you have a great wedding and honeymoon.:beer:

Linda

WildWayz

I think our wedding was about £5,000 - had 40 guests - married in a beautiful place (not a church wedding). Best wedding ever
Even snowed outside!

jw2003

Tolian wrote: »

.... I just applied to Clydesdale bank for a 10k loan and waiting for them to get back to me, but I don't want another declined application on my rating.

Have you heard back yet?