Loan for wedding-which bank to go with

mustachio

People have slightly got the wrong end of the stick though I appreciate you all taking the time to share your thoughts.
I am not having a "flashy" wedding. I would re-direct to the question about the loan itself though that seems to have got lost in this post.

liveyoung

Don't get a loan at all is the message. If you're not having a "flashy" wedding, why do you need to borrow anything?

Look at how much you think you need and how long that will take to pay off. Surely it would be preferable to either save and pay out right, or reduce the amount significantly?

Mojisola

mustachio wrote: »

I am not having a "flashy" wedding.

If you're not having an expensive wedding and you will be able to afford to pay off a loan, why not just save up for the wedding?

You'll only be paying for the wedding that way and not all the interest on the loan.

foxtrotoscar_2

If you can comfortably afford the loan how much have you already got in savings?

Torry_Quine

I have to agree with those saying that borrowing for a wedding is not a good idea. Either wait till you can afford it or scale back.

SeanG79

Still advise not taking a loan, but if you insist then I would suggest Halifax would be in the best position to approve/decline the loan

B_G_B

I would suggest one of the following.

TSB
Lloyds
Halifax
First Direct
BoS
M&S
Nationwide

These are the institutions that pay me each month with loss leading products.
Obviously, these products need to be financed from somewhere, and you seem like the ideal punter to me.

cajef

mustachio wrote: »

I am not having a "flashy" wedding.

If that is the case how much is this non-flashy wedding going to cost if you need a loan for it?

burlington6

foxtrotoscar wrote: »

If you can comfortably afford the loan how much have you already got in savings?

The golden question we usually know the answer to

Thistlewhistle

mustachio wrote: »

People have slightly got the wrong end of the stick though I appreciate you all taking the time to share your thoughts.
I am not having a "flashy" wedding. I would re-direct to the question about the loan itself though that seems to have got lost in this post.

At the end of the day, you've asked a question on the Debt Free Wannabe Forum. Of course we're going to advise against either form of credit!

Perhaps you should post on the Loans / Credit Cards Forum.

To my mind, if you're having to fund what you want by a loan or through credit cards, then it's too already too flashy for your means!

If you can afford the repayments out of surplus disposable income, just save up and pay outright, saving you all that interest.

We're not being mean - just warning you of the pitfalls.

Whatever you decide, have a fab day and health and happiness going forward!:beer:

Tx

Ps The CC debt in my signature (£3950 currently). I've had this debt since I was a student (20 years ago) and I've still not managed to clear it, although I'm making good inroads now by cutting my cloth elsewhere. That's how paralysing debt can be. That's why we care about what you do going forward. xxx