A person's wedding day is likely to be one of the most memorable and enjoyable days of their life. It is however also worth considering that this extravagant occasion brings with it not only fond memories to last a lifetime - but also hefty financial outlay.
Historically, tradition in the UK dictated that the father of the bride was responsible for footing the bill for his daughter's big day. Although this may still be the case in some instances; it is by no means an expectation in the modern day. For the most part funds for a wedding are sourced from various contributors - with the soon to be happy couple at the heart of the decision making and purchasing process. Given the financial strain of purchasing a house, paying off accrued debts and generally getting by on a daily basis; wedding loans have become an increasingly popular means of kick-starting married life.
In addition to budgeting for venue hire, catering, flowers and the other major components of a wedding service and reception there are a huge array of additional outgoings which quickly mount up and stretch the budget. Wedding cakes and dresses can easily reach into the thousands of pounds, especially when matching bridesmaids and groomsmen's attire is brought into the equation - similarly stationary, car hire and other flourishes are far from inexpensive. When these small and large outgoings are added to the cost of the honeymoon you are left with an often imposing total figure. Wedding loans don't necessarily need to be taken out to finance the whole event but can be something of a salvation when costs start mounting and the intended budget has been exceeded.
Wedding loans are much like any other unsecured loan in that they're available for a range of sums at competitive rates of interest and with a choice of repayment terms. Essentially wedding loans serve to provide the necessary funds to not only ensure that the occasion lives up to expectations but also take some of the preparatory worries out of the equation - allowing the soon to be happy couple and organisers to focus on more important matters.
Seeing as the overall cost is often a major contributing factor to putting couples off marriage; wedding loans offer those with limited resources to invest in a life together - without having to do without as a consequence of the formalising of their union. Borrowing the capital to fund a matrimonial extravaganza is certainly a more acceptable way to find finance for your big day then selling all of your wedding gifts.
Written by J. Lyons of Find Finance Blog on behalf of The Finance Facility Wedding Loans