Wedding loans
Representative 48.7% APR
Finance for weddings
A wedding can be one of the biggest expenses you’ll ever pay for, with costs ranging from the venue and catering to the dress, flowers and entertainment. For some couples, taking out a loan can be a way to cover some of these costs without having to wait months or years to save up the full amount, allowing you to have the wedding you’ve dreamt of.
So, rather than paying for everything at once, a loan allows you to borrow a set amount and repay it in fixed monthly instalments over an agreed term.
But it’s important to remember that borrowing comes at a cost. You’ll usually pay interest on the amount you borrow, meaning you’ll repay more than the original loan amount. The longer the repayment term, the more interest you may pay.
You should also think about what could happen if your circumstances change.
Missing payments can impact your credit score and make it harder to get credit in the future. If you continue to miss repayments or default on the loan, the lender may take further action to recover the money owed.
Before applying for a loan, take some time to consider if borrowing is the right option for you. Ask yourself whether the repayments fit comfortably within your budget and if there are ways to cut costs or save for certain things instead.
While a loan may help make your plans possible, it’s important to be confident that you can afford the borrowing both now and in the future.
ClearScore can help you find personal loans:
- From £1,000 to £25,000
- Over 1 to 5 years
- No impact to your credit score
- Personalised offers tailored to your needs
- Know what you'll repay each month and over what term, upfront
Representative 48.7% APR
*Vanquis Bank acts as a credit broker, not a lender, introducing customers to our partner ClearScore. ClearScore acts as a credit broker and not as a lender. If you take out a loan, Vanquis Bank and ClearScore receive a commission payment from your lender. If you’d like further information about the commission Vanquis Bank or ClearScore receive as a result of your loan, please contact us. We will not charge you a fee for our services. Loans can only be offered to customers aged 18 or over. Credit is subject to status. Terms and conditions apply.
Can I get a wedding loan with bad credit?
Yes, it’s possible to get a loan if you have bad credit. Lenders use your credit history to help them understand how you’ve managed credit in the past. If you’ve missed payments or had financial difficulties before, some lenders may see you as a higher-risk borrower. This can make it harder to get approved for a loan or get the best rates.
But not all lenders take the same approach. If you have a poor credit history, there are lenders that specialise in helping people who have been turned down elsewhere. Having little or no credit history can create similar challenges. If you’ve never borrowed before, lenders may have less info to assess your application.
Before taking out a loan for your wedding, it’s important to think carefully about whether the repayments fit comfortably within your budget. Weddings can be expensive, and while borrowing may help spread the cost, it’s worth considering whether you can afford the wedding you’re planning or if cutting costs could help your finances in the long run.
If you do decide to borrow, compare your options carefully, understand the total cost of the loan, and make sure you’re confident you can keep up with the repayments.
Our expert says...
“Getting a loan for a wedding may help turn your plans into reality by allowing you to spread the cost over time. Whether you’re paying for the venue, outfits or other wedding expenses, it’s important to think carefully about what you can realistically afford.
“Before borrowing, make sure you’re comfortable with the repayments and remember that staying financially healthy after the celebrations are over is just as important as the day itself.”
Chloe Hewson, Strategic Partnerships Manager at Vanquis.
How to keep wedding costs down
Keeping your wedding costs under control starts with careful planning and clear priorities. Here are some marital money-saving tips
- Set a budget and stick to it
- Prioritise what matters most and think about reducing spending elsewhere
- Consider an off-peak date, like a weekday or quieter time of year
- Keep your guest list manageable, as larger weddings usually cost more
- Compare suppliers and get multiple quotes before booking
- Choose venues or packages that include extras, like catering or decorations
- Consider pre-owned or discounted wedding clothes
- Be selective with optional extras, as small costs can quickly add up
- Use digital invitations to reduce printing and postage costs
- Set aside an emergency fund for unexpected expenses
With a realistic budget and thoughtful planning, it’s possible to create a memorable wedding while keeping costs within your means.
FAQs
How much can I borrow for a wedding?
ClearScore can help you compare personal loan offers from a panel of lenders ranging from £1,000 to £25,000. The amount you’re able to borrow will be subject to eligibility, affordability checks and the lender’s lending criteria.
What is a realistic budget for a wedding?
Every wedding is different, so there’s no single budget that suits everyone. The amount you’ll need will depend on factors like the number of guests, venue, catering, time of year and any additional spending, like decorations or a DJ.
According to MoneyHelper, the average cost of a wedding in the UK is £24,069. Setting a budget early and prioritising what matters most to you can help keep costs manageable.
Do wedding loans affect credit scores?
Just like other forms of borrowing, taking out a loan for your wedding can affect your credit score.
Making your loan repayments in full and on time may have a positive impact on your credit history, as it shows responsible borrowing. But missing payments could negatively impact your credit score and make it difficult to get a loan in the future.
When you check your eligibility through ClearScore, a soft search is used. This won’t affect your credit score. If you make an application and confirm that you want the loan, the lender is likely to carry out a hard credit search. This may cause a temporary reduction in your credit score, depending on your personal situation.
Are ClearScore wedding loans secured or unsecured?
Wedding loans available through ClearScore’s panel of lenders are normally unsecured loans. This means you don’t need to use an asset, like your home or car, as security for the borrowing.
Because the loan is unsecured, approval will be based on things like your credit history, income and affordability. If you’re accepted, you’ll repay the loan through fixed monthly instalments over an agreed term.
Can I get a joint wedding loan?
Some lenders offer joint personal loans that allow two applicants to apply together. Applying jointly may increase the amount you’re able to borrow, but both applicants remain responsible for the repayments. Eligibility and approval depend on the lender’s criteria.
What are you looking for?
No credit history loans
I want to understand my options if I have no credit history.
Bad credit loans
I have bad credit. Can I still get a loan?
Home improvement loans
I want to understand my options if I have no credit history.
Debt consolidation loans
I want to combine my existing debts into one monthly payment.
Compare loan offers with ClearScore
I want to compare loan offers quickly, without affecting my credit score.