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Secured Wedding Loans

Funding from £20,000 to £1 million

  • Fast process
  • All types of income considered
  • Support from an experienced team
  • Transparent process with no hidden fees
  • We search lenders to try and get you the best deal

Loans are secured against property - your home may be repossessed if you do not keep up repayments.

Secured Wedding Loans
 
 
 
 

How much do you need to borrow?

To qualify you must:

be a UK resident and own a property
be aged 25-85 with a minimum income of £20,000

Sorry, we are unable to help you as Secured Loans are only available to Homeowners.
Minimum Loan Amount is £20,000

Or call us now on 0800 032 4646

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Loans are secured against property - Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
We are a loan broker Authorised and Regulated by the Financial Conduct Authority. We do not offer mortgages from high street lenders, so you should apply there first. If you were rejected, we may be able to help you.
We do not offer mortgages from high street lenders, so you should apply there first. If you were rejected, we may be able to help you.
wedding ring

What is a secured wedding loan?

 
 
 
 

A secured wedding loan is a type of funding solution that helps you cover your wedding expenses. This could be for any reason, such as paying for the venue, catering, wedding attire, flowers and more.

With this solution, you use a property you own as security against the loan. By doing this, the lender is given more reassurance that you will pay back the loan, as they have the power to repossess your property if you don’t.

By doing this it can help you unlock larger loan amounts and potentially lower interest rates than an unsecured loan.

As with any finance option, secured loans come with a risk. You need to make sure you can afford the monthly payments easily before committing to any borrowing.

For more information on wedding loans, check out ‘our guide to wedding loans’.

champagne glasses

How much will I need to borrow for my wedding?

 
 
 
 

Deciding on the exact amount you need to borrow for your wedding depends on many factors. This includes your wedding plans, preferences, and budget. To estimate the amount you may need to borrow, follow these steps:

  1. Create a wedding budget:

Start by creating a budget that includes the most important elements of your wedding. This could include the venue, food, outfits, decorations, photography, and other expenses.

  1. Research wedding costs:

You could read blogs, watch videos online or talk to friends and family about how much other people’s weddings cost. Make sure you find people with similar weddings to your vision to get the closest guess.

  1. Prioritise your expenses

Rank the elements that are most important to you and your partner. Allocate more of your budget to the most important elements, while thinking where you can save on costs for less critical items.

  1. Include savings:

Factor in any savings you plan to put towards your wedding. These contributions will reduce the total amount you need to borrow.

  1. Explore other funding sources:

If you can, check if family or friends can help with the costs, as this may reduce how much you need to borrow.

Once you have a good idea of your budget and know how much you can personally contribute, it will give you a clear idea of the amount you need to borrow. After this, you can explore different lenders and loan options.

Why are weddings so expensive?

 
 
 
 

Weddings are notorious for being expensive. They are often one of the first big expenses a couple may tackle together.

So what causes a wedding to cost so much? Here are a few ways wedding expenses can start to add up:

venue catering

Venue and catering:

Wedding venues and food services often cost the most. Couples aim to create a memorable experience for themselves and their guests, so they often look for unique locations with the best culinary experiences. But, the choice of venue and the number of guests can substantially impact the overall cost.

guest count

The guest count:

As the guest count rises, so do the expenses. A larger guest list means increased costs for catering, seating arrangements, invites, and other logistics. If you’re looking to cut costs, it’s a good idea to monitor the guest list carefully and try to keep it lower if you can.

wedding attire

Wedding attire:

Clothing, including the bride's dress, groom's suit and outfits for the wedding party, add to the overall cost. The wish for elegance and style can result in higher costs for clothing and accessories.

video camera

Photography and videography:

Hiring photographers and videographers is important for couples trying to preserve the memories of their day. However, quality services come with a price tag, adding to the expenses.

These are just some of the wedding costs that can make your big day expensive. However, with careful planning, you can bring down these costs and save money on your wedding. If you’d like to find out how to do this, read our guide ‘how to save money on your wedding’.

The benefits of secured wedding loans

 
 
 
 

Lower interest rates:

Secured loans can often come with lower interest rates. This is because there is a property used as security against the loan, which reassures the lender.

Higher loan amounts:

By using a property to secure the loan, you can also often access higher loan amounts. Therefore, if your wedding is going to be very expensive, you may be able to cover the costs better using this option.

The risks of secured wedding loans

 
 
 
 

Risk to your home:

Failing to repay the loan can result in your home being repossessed. This can make it a risky option, so you need to think carefully about whether it is affordable for you.

Impact on credit score:

If you default on your loan, it can severely damage your credit score, making it challenging to get finance in the future.

How do I enquire?

 
 
 
 

We want to make the process of applying as smooth as possible. Here are the main steps involved in our application process.

  • Enquire

    Step 1: Submit an enquiry

    Fill out our enquiry form online or call us to speak directly to one of our advisors.

  • Speak to the team

    Step 2: Speak to the team

    After reviewing your enquiry, one of our experts will call you to discuss your situation.

  • We will handle the rest

    Step 3: We'll handle the rest

    If we find you a product that fits your needs and you're happy, we'll take care of the rest for you.

  • Completion

    Step 4: Completion

    Once all of the paperwork is completed, you will receive your funds.

What our customers say about us

 
 
 
 
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"The Loan Engine dealt with my bridging loan, and I can honestly say that they were more proactive than me, which is saying something! I can't fault them at all - every time I rang, they knew exactly the latest position of my case, and were always helpful and polite. "
Mrs W, Bordon
22 Jan 2024
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"Great. Very helpful. Worked hard for us. Worth 5 stars. Use them anytime. "
Mr H, York
17 Jan 2024
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"They’re friendly and helpful start to finish sandip, emily thank you. From start to finish very helpful I will recommend to everyone thank you."
Mr S, Merthyr Tydfil
05 Jan 2024
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"Excellent service from start to finish. They went the extra mile when complications arose, big shout out to Thisara. I can’t recommend them enough!"
Mrs M, Leeds
12 Dec 2023
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Frequently Asked Questions - Secured Wedding Loans

 
 
 
 
  • Can I take out a joint secured wedding loan with my partner?

    Yes, you can take out a joint loan with your partner. This allows both you and your partner to apply for the loan together and share equal responsibility for the debt. This can be beneficial, especially if both partners have a stable financial situation and wish to combine their resources to finance their wedding.

    When applying for a joint secured wedding loan, both you and your partner will need to provide some information, including income, credit history, and details of the property you will be securing against the loan. The lender will weigh up both applicants' creditworthiness and the value of the property to decide the loan amount and interest rate.

  • What happens if I default on a secured wedding loan?

    Defaulting on a secured wedding loan can have serious consequences. The lender can seize the property used to secure the loan. This might mean you lose your home.

    Your credit score will also suffer, making it hard to access finance in the future.

    To avoid defaulting, make sure you plan finances carefully, communicate with the lender if facing difficulties, and make timely payments. Responsible borrowing and proactive financial management are key to protecting your financial well-being during and after your wedding.

  • How can I find the best secured wedding loan?

    To find the best secured wedding loan, you need to research lenders, compare rates and fees, check customer reviews and seek recommendations.

    You could consider using a broker (like us) to help you navigate the process and take the work of finding a suitable lender off your hands. Using a broker may however mean you need to pay extra fees than if you went directly to a lender.

  • Can I get a secured wedding loan with bad credit?

    Getting a secured wedding loan with bad credit is possible, but it may be harder. Using your property as security for the loan can increase your chance of approval.

    However, having bad credit might result in higher interest rates compared to borrowers with good credit.

    Before applying, carefully assess your financial situation and consider if you can manage the loan repayments.

    If you’re struggling to manage your finances, it could be a good idea to speak to your current creditors for help. They may be able to offer support or arrange alternative repayment plans. For further support, you could also reach out to MoneyHelper or Citizens Advice Bureau (CAB) who offer free advice.

Useful guides and blogs

 
 
 
 
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