Wedding loans

How can I finance my wedding?

You deserve a wedding as wonderful as the person you’re marrying – but your big day may come with a big price tag. The average UK couple spends over £27,000 on their wedding and honeymoon*. Ideally, you’d use savings to pay for your wedding, but that isn’t always an option. A wedding loan is one way to spread the cost over several months or years.

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Which type of loan is best for weddings?

There are several different types of loans, including personal loans, secured loans, and guarantor loans. But which should you choose to finance your wedding? It usually depends on your needs, preferences and financial circumstances.

Personal loans are a common choice for weddings. This is because they allow you to borrow small amounts (e.g. £1k - £25k) and their repayment options are usually quite flexible. However, personal loans for small amounts may have high interest rates.

Secured loans use your home as collateral, meaning you could lose your home if you don’t keep up with repayments. However, since this helps lenders lower risk, they may offer you higher limits than you’d get with a personal loan.

Guarantor loans are a common option for people with bad credit or no credit history. You’ll need someone to agree to repay your loan if you can’t – ideally, a parent with a good credit score.

To help you understand your options, we’ve outlined the pros and cons of getting a personal, secured or guarantor loan to finance your wedding. Remember, you should always read the terms and conditions of a loan carefully before you apply.

Personal loans


  • You can often borrow as little as £1k – useful if you want to pay for your wedding with both savings and a loan
  • You may be allowed a ‘payment holiday’, meaning you won’t start repayments immediately
  • You don’t have to own a home or risk losing it


  • You may not be able to borrow very large amounts
  • Interest rates on small loans may be high
  • You’ll need a good credit score to get approved for the best rates


  • You can borrow large amounts (e.g. £25k - £100k) – useful if you need to cover all wedding costs with a loan
  • If you have bad credit, a secured loan may be easier to get approved for
  • You may have longer to pay the loan back


  • The amount you can borrow may be limited by your property’s value and the proportion you own
  • If you don’t keep up repayments, you could risk losing your home
  • Typically, you can’t borrow less than £5,000


  • If you have bad credit, a guarantor can help you get approved for a loan
  • You may get better rates than if you applied for a loan for people with bad credit
  • You don’t have to own a home or risk losing it


  • You may not be able to borrow a very large amount
  • You must find a suitable guarantor who will pay off your loan if you can’t
  • Relying on your guarantor to make payments for you could put you in an awkward situation

Compare loans from across the UK market with Experian, and find a deal that fits you. It’s completely free and won’t affect your credit score. Remember, we’re a credit broker, not a lender† - we can help you find deals, but we don’t make the decision to approve you for credit.

Wedding loan or credit card?

You could choose to use a credit card instead of a loan to fund your wedding. For example, purchase credit cards can typically be used for online and in-store purchases – such as buying the dress, ordering flowers, and booking the band. They commonly offer a 0% interest rate for a promotional period, which can make them a cheap way to borrow money. Plus, as long as you meet the minimum repayments, you can be flexible about how much you pay off each month.

However, it’s a good idea to pay off your purchase card before the promotional period ends. Otherwise you’ll be put on the lender’s standard rate. This can lead to you paying more interest than planned. If you’d prefer fixed monthly repayments at a steady interest rate, you may be better off choosing a wedding loan.

You can compare credit cards with Experian, without affecting your credit score.

Applying for a wedding loan – what should I consider?

Applying for a wedding loan is usually simple. You can typically apply online – or, if you prefer, you may be able to apply in-person at one of the lender’s branches. Learn more about applying for a loan here.

Before you make your application, here are some useful things to consider:

How much do I need to borrow?

First things first, draw up a budget. Calculate the costs of your planned purchases, and get quotes from suppliers – these might include the venue, band, caterer, florist, and hair stylist. Estimate the number of guests, as this can have a big impact on cost. Work out the grand total and how much of it you’ll need to borrow. You may want to see where you can reduce spending – for example, by getting married in an ‘off-season’ month.

What can I afford to repay?

It’s important to consider how repayments will affect you and your future spouse. After all, you want to enjoy being newlyweds, not worry about money troubles. Work out what you can comfortably afford to repay each month. Also, think about how long you’ll be making repayments for, as this can affect your plans for the future. For example, if you want to buy a house together, you may need to repay your loan first.

Will I get approved for credit?

Your chances of getting a loan depend on how a lender sees you. You can get a good idea of where you stand with lenders by checking your free Experian Credit Score. This number reflects your ability to get the best deals – the higher it is, the better. Luckily, there are several steps you can take to improve your score. You can also check your eligibility for personal loans when you compare deals with us.

Who should take out the loan?

If you have a higher credit score than your future spouse, you may get a better rate by applying for a loan as an individual. But remember, this means you’ll be solely responsible for paying it back.

Alternatively, you may decide to take out a wedding loan jointly with your partner. Be aware that this will create a financial association between you. Lenders will be able to see this connection when you apply for credit in the future, and it may affect their decision to approve you. If one of you has a low credit score, this could cause problems for the other person. Note that marriage doesn’t create a financial association – you must share finances for the connection to be recorded.

How will a loan affect my credit score?

Getting a loan may affect your score in both the short and long term. It’s important to remember that you don’t have just one score – lenders will calculate it when you apply for credit, and each may use a different method. Typically, they’ll take into account your credit history, application details, and any other information they hold on you (e.g. if you’re an existing customer).

Your score may go down if you make too many applications in a short amount of time. So, if you need to make more than one application, try to space them out.

In the long run, having a loan could affect your score in different ways. For example, some lenders may be wary of giving you credit while you still owe money, so your score could reduce. On the other hand, some lenders like to see that you’ve borrowed money responsibly in the past, so a well-managed loan could increase your score.

You can get a good idea of where you stand with lenders by checking your free Experian Credit Score.

How should I manage my wedding loan?

Managing your loan sensibly will help you keep your finances under control – so you can concentrate on enjoying the honeymoon period! Here are our top tips for a well-managed account:

  • Try and stick to your wedding budget to ensure you can still afford repayments after the big day
  • Make sure you know when your loan repayments start, especially if you’ve been given a repayment holiday
  • Set up a direct debit so you never miss a monthly payment
  • Make all your repayments on time and in full – otherwise you could be charged extra fees, and you may even get a default or CCJ (County Court Judgement)
  • Try not to borrow more money while you’re still paying off your loan

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