Wedding Loan

Iamzee

Be practical. what's more important than that the wedding is the days and years ahead of you. Plan for the future instead of just planning for one day that won't really be a factor as you both move forward.

Madasa85

Just paid for a £21k wedding, only thing I owed the day after my wedding was an outrageous bar bill. Don't do it.

badmemory

Make a choice! A wedding is one day at the start of your life together & should be a beginning. A home is the start of forever. A wedding debt is a noose around your necks & a mortgage represents the future. Only you (& your OH) can make the choice.

Too many people over the last over 30 years have seen a wedding as the end result, it isn't, it is the start

freeisgood

I am guessing it is his prospective bride who wants a 20K wedding....and has left Lars wondering how to stump up the cash. Oh dear.

FTBuyerGlasgow

£20k is fairly cheap for a reasonable sized wedding, we're 100+ guests day and 50 or so at night, everything including 2 week honeymoon is costing about £30k (less than half our joint annual income).

About 80% will be saved/paid with our own money and 20% gifted by family. It's what we want and includes two week holiday so I'm not looking at it as "one day".

That said we moved in together a few years ago and I'd never, ever recommend doing a wedding and house purchase so close together.

Get the house, save for the wedding later (or finance it when you know your affordability). Do not get the loan before the house purchase unless your income is 6 figures.

cjmillsnun

My sister got married in a registry office with close relatives only and then had the reception in the local pub.

Robin9

Lars_Olsen wrote: »

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. .

This sounds like a new build - if so take September 2018 with a huge pinch of salt as that date will slide and slide and you might have it by Christmas. You don't want that hassle alongside a wedding.

steampowered

Most mortgage offers are not valid for more than six months, so it sounds like the Op does not actually have a mortgage yet.

If the Op has £20k of unsecured debt on his credit record, the lender will take that into account when assessing affordability.

The lender may also require that the £20k is paid as a condition of the mortgage. When I took out my mortgage it was a condition that I had to pay off my 0% credit cards before the bank would lend - unsecured debt for a wedding is no different.

Op, putting yourself in a position where you can't get a mortgage but are still legally required to complete on the new build would be a disaster. If the builder sued you for not completing, you could lose your deposit and could be made bankrupt.

I would definitely wait until you have completed the house purchase before taking on unsecured debt.

cajef

HollySenna wrote: »

I have provided a link below to our self employed mortgage page. I hope this helps.

:spam: reported.

LadyDee

I don't think anybody has mentioned the irony of coming to a money SAVING forum for advice on how to get and then spend £20K the OP doesn't have. Bearing in mind that a loan of £20K will cost a lot more to pay back. Absolute madness.