Loan for wedding-which bank to go with

meer53

If you have to consider either credit cards or a loan for your wedding, then you can't afford it. Save the money you were going to pay for the loan, then get married.

SeanG79

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cos_2

Halifax seems the obvious starting point if, as you say, the cost is lower.

If your question were about whether or not it's a good thing to borrow to pay for a wedding, then some of the other replies would be relevant. Since you didn't ask that, clearly they are not.

Contributors have missed the point since this website's inception, and many just love to make moral judgments rather than address directly-asked questions.

Good luck, and remember not to run with scissors . . .

annie_d

i am in the process of paying for my daughter's "non flashy " wedding. I too had it all sorted on zero per cent cards. I just couldn't cope with the juggling aspect of it all so i now have £230 going out each month to pay the loan i got from Sainsbury's at 3.3 per cent.

Manageable sum and i have no worries about it.

Maximum_Saving

If you have to get a loan then I think try with Halifax because you have a bank account and mortgage with them. I think a registry marriage and a garden party would be a lovely day for you and your man. My sister had her honeymoon in Brighton. They are still happily married. If you save some money you could use that and a zero percent interest credit card. For example save £1000 and borrow £1,000. You could pay back £100 a month for example. Good luck.

takman

annie_d wrote: »

i am in the process of paying for my daughter's "non flashy " wedding. I too had it all sorted on zero per cent cards. I just couldn't cope with the juggling aspect of it all so i now have £230 going out each month to pay the loan i got from Sainsbury's at 3.3 per cent.

Manageable sum and i have no worries about it.

But going from 0% to 3.3% just to have one monthly payment is very bad advice. There is no point in paying interest when you don't have to and it's not hard to setup direct debits for multiple credit cards and adjust them as required.

takman

cos wrote: »

....If your question were about whether or not it's a good thing to borrow to pay for a wedding, then some of the other replies would be relevant. Since you didn't ask that, clearly they are not.

Contributors have missed the point since this website's inception, and many just love to make moral judgments rather than address directly-asked questions...

I disagree with that completely. This is a public forum and the whole idea is for people to voice their opinion of the OP's subject in regards to money saving. If people only specifically answered the question being asked then a lot of advice and opinions would be lost. If everyone gives their opinion then they OP can then take this into account when making their decision.

For example using your logic if someone posted a question in the credit report forum asking "My bank turned me down for a loan because of my low credit score from experian how can improve it". Your reply must be that "they can pay the £14.99 a month and see what factors experian are saying reduce the score and work on them". That would be answering the question.
BUT a useful reply would be that the credit score from experian is not used by the bank and that they need to make sure the information is correct that the three credit agencies hold.... etc.

Thistlewhistle

TadleyBaggie wrote: »

No they haven't, as far as I can tell this thread always was in the Loans forum...

I stand corrected - I had two windows open and mixed up my forums.

Apologies

Xx

skea56

lazer wrote: »

The OP did not ask for opinions on if her should get a loan, they asked where to get a loan.


How many people giving off at the OP for a loan for a flashy wedding drive a car bought on finance or any car "better" than a corsa, clio, etc, there is no need for a "flashy" car.


There is no need for an expensive wedding, but they want it, and can afford the repayments (Op - do think about what you would do if you lost your job, perhaps consider some form of insurance, or would redundancy pay cover it etc?)


Maybe they don't have time to save, perhaps they want to be married before having children, don't want to live in sin etc, ultimately its their decision.


OP - I know you said no to credit cards, but a 0% credit card is the cheapest option as long as you think you have the discipline to pay it back.

I agree with this poster, we recently got married and got a 0% card from Santander for 23 months last year just after we got engaged. The card was used for deposits etc and to pay off the hotel installments. it meant that the money we had been saving for our house did not have to be used. We knew therefore that the deposits were protected should anything had happened, plus we were able to pay off the balances at our own rate.

Also the money and gifts you receive from guests can also go towards the debt afterwards. (I dont mean to be crass but thats jsut the way it is)

Just to note, we did not have a big fancy wedding either, (only about 100 guests) and didnt do a big honeymoon either.

We now have the money sitting in a 123 account getting 2% interest and a standing order being sent to the CC each month to pay it off each month before the 0% free period runs out.

And to those posters who say why spend so much money on just a party, i disagree - it was money very well spent, it wasnt just a party to us we got to spend time with family and friends from all over the globe whom we wouldnt normally see, everyone had a great time and I married the love of my life in front of all the people I cherish most in the world.

sk56

mrsammyp

You can't afford your wedding right now, why be in debt for a one day event which you will be paying for long after.