Nuptials aren’t generally cheap. Just name the ‘Wedding’ word to any planner, caterer or florist, and rates surprisingly seem to rise. But this doesn’t mean that the couples shouldn’t frame their dream wedding to the best- as wedding loans are rising as a desirable and convenient option to easily finance the fantasy wedding. Esco Loan
Weddings are joyous events. Every bride and groom want a fabulous wedding day. But an unfortunate truth is- marriage is expensive. And if you don’t have the funds for your dream day, you might find yourself using your savings, opting for an online loan, or taking help from friends and relatives.
The average cost of a UK wedding is £27,000- with venue hire (£4,354), the honeymoon (£3,630), and the food (£3,353) cost, and even if you are saving, or getting help from family, there’s still a chance that you might need a loan to top up the funds. Also, estimating the budget is one smart move to take.
A personal wedding loan could be one of the obvious and most beneficial ways to fund your wedding, particularly if you have restricted savings.
What is a Wedding Loan?
A wedding loan is an unsecured personal loan that couples use to fund their wedding day. Many lenders offer “Bad credit wedding loan with no guarantor”, but it works in the same way- a personal loan does. The borrower receives the credit and then repays it over a period of time.
Some online lenders regard this type of debt as wedding loans, while others characterise it as credits used for special occasions. But most of the personal loan lenders will enable you to use a conventional personal loan to pay for your event.
Typical Wedding Expenses
Based on a typical wedding, around 50% of the budget is entitled to the venue, with couples paying on average £6000 on venue hire, food and wine. The choice of venue- have the biggest weight on the overall budget with prices ranging from a few hundred pounds to tens of thousands.
Many reviews include- engagement ring and honeymoon vacation in the overall cost of a wedding. Certain elements can vary in cost and skew an authentic depiction of the cost of the actual wedding day. But the wedding cost includes many other things apart from- rings, vacation, or outfits.