Loan for wedding-which bank to go with

mustachio

Getting married this year and getting a loan is preferable to credit cards (and better rates).

It seems going with your current bank is the way to go in terms of getting better rates (comparison websites seem to have let a lot of people down on this forum for loans).

I have joint account with Halifax with my soon to be wife though only had that account for 3 months. That said I have mortgage and credit card with them.

Other option would be Co-op who I have had a current account with for 5 years though there rates aren't quite as good as Halifax.


So better to get loan with Halifax where mortgage (i.e. my main assett) or not?

Any thoughts?

DCFC79

A loan for a wedding, is that a good decision ?

The repayments you would use for this loan where is this money, is it saved up ?

Or another way to put it is how much do you have left over each month once all bills paid ?

mustachio

Can meet the payments fairly comfortably. Without a loan I fear that I will be spinning around on credit cards on a panic.
The idea of a set amount each month is appealing to me and the interest is not that bad.

SeanG79

mustachio wrote: »

Getting married this year and getting a loan is preferable to credit cards (and better rates).

It seems going with your current bank is the way to go in terms of getting better rates (comparison websites seem to have let a lot of people down on this forum for loans).

I have joint account with Halifax with my soon to be wife though only had that account for 3 months. That said I have mortgage and credit card with them.

Other option would be Co-op who I have had a current account with for 5 years though there rates aren't quite as good as Halifax.


So better to get loan with Halifax where mortgage (i.e. my main assett) or not?

Any thoughts?

I would suggest you save for the wedding and pay in cash, even though that will mean delaying the wedding date. starting/building a marriage with debt is seldom a good idea.

Nasqueron

mustachio wrote: »

Can meet the payments fairly comfortably. Without a loan I fear that I will be spinning around on credit cards on a panic.
The idea of a set amount each month is appealing to me and the interest is not that bad.

Can meet "fairly comfortably".

If you lose your job or have a serious illness can you pay it off and keep your home and bills up to date? What about some unexpected big bill like if your car goes bang?

A wedding is just one day and all associated costs will be inflated as soon as that magic word is mentioned. No-one needs a massive wedding with loads of guests, expensive food / venue / clothing - if you can't afford it (or can't save up for it using the money you say would cover the loan) then you don't need it - so be realistic and scale down to what you can afford.

burlington6

Don't borrow to fund a wedding.

People today see it like a competition to ''out do'' their friends.

Having a fancy expensive wedding won't mean your marriage will have more chance of succeeding.

Almost half of marriages fail.....imagine paying out for a wedding when you've already split up

Too many couples now have to have the photo booth, the sweet cart.....anything to be better than their friends.

The relationship is important, not the wedding!

liveyoung

burlington6 wrote: »

Almost half of marriages fail.....imagine paying out for a wedding when you've already split up

My current partner is still paying off his Wedding - despite being divorced for almost a year.

Either wait and save or do it cheaper. You do not need to spend a lot of money on a wonderful wedding day. Surely a stable, debt free, marriage would be better?

Helvetica_Van_Buren

Nobody on here is going to give you advice with regards to borrowing to fund a wedding - that's just not the way this forum works.

Regardless of how much you love your partner, how easily you can afford loan repayments or how desperate you are to get married, the best advice you will get is to save for it and get married when you have the money.

Ebe_Scrooge

I'd echo what everyone else has said. When I got married, we hired the local village hall for £40 and decorated it ourselves the night before. A local caterer provided a lovely meal for the afternoon and a ( very substantial ) buffet for the evening for around £200 all in, a mobile DJ for the evening was about £50 or so. Did a booze-cruise to France to stock up on cheap wine, the whole shebang came in at around £500 or so - and pretty much everyone commented on what a relaxed, informal and downright fun day it was, a lot said it was the best wedding they'd ever been to

Thistlewhistle

Ebe_Scrooge wrote: »

I'd echo what everyone else has said. When I got married, we hired the local village hall for £40 and decorated it ourselves the night before. A local caterer provided a lovely meal for the afternoon and a ( very substantial ) buffet for the evening for around £200 all in, a mobile DJ for the evening was about £50 or so. Did a booze-cruise to France to stock up on cheap wine, the whole shebang came in at around £500 or so - and pretty much everyone commented on what a relaxed, informal and downright fun day it was, a lot said it was the best wedding they'd ever been to

I'd have to agree with Ebe

Weddings are about people not pageants. My friend is a priest and he sees many a wedding where there are no holds barred and everyone gets so caught up in the pageant of the day, they forget that the following morning, when the balloons have popped, and the guests have gone, it's back to the harsh reality of the rat race.

Don't get us wrong - nobody here wants to rain on your parade, but most of us are acutely aware of how debt can undermine your happiness. Surely it'd be better to start your life together without the millstone of struggling to meet repayments.

My friend had her wedding in a village hall in the middle of nowhere - it was a scream! The catering was done by the Parish Ladies for a donation to their church funds, the food was amazing, and it was a fantastic day.

Tx

Grumpelstiltskin

What a start to married life still paying the wedding off.


When you start bickering, all married couples do, this is going to be brought up, you will remember the best man's sisters husband getting drunk and making a fool of himself. the page boy having a tantrum at the wrong time, the cousins you never see from one wedding to another monopolizing the free bar.


Weddings are not about that, trying to keep up with the Jones, they are about the bride and groom. Cut your coat according to your cloth then at least you are starting married life on a firm financial footing.