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Make Best Use of Your Wedding Loan

If you are thinking of taking the plunge this year and getting hitched to your sweetheart, then I and everybody else will wish you good luck on your marriage.

A wedding is a hard and stressful time in life, with all that you have to arrange and prepare to make the day as wonderful and as memorable as you can, as this is a day that most little girls plan when growing up and having a fairy tale like wedding.

The stress of all of this is hard enough, but the financial side of it is the part that can lead to problems before the marriage as even had a chance to bloom. Unless your bride’s father is rich and the cost of a wedding is a drop in the ocean to him, then paying for the big day is by far the most worrying aspect.

This year alone there is expected to be more than 50,000 weddings, with all looking to apply for a wedding loan to get them to see out their dream day, but the sad part is that around 67% of those will be squandering a whole lot of the cash that they have borrowed.

I am not speaking about D.I.V.O.R.C.E here, I am talking about the actual loans that they have taken out to pay for the wedding, with 34,700 couples paying over the odds in interest payments, which could go along way to going towards their mortgage repayments or other marital expenses.

In some cases married couples could be paying as much as £1,100 over that of other loan companies, the main reason for this is that most people will just head to the own branch of the bank that they belong to and apply there for the loan, but a lot of these loans are not as competitive (in some cases 5.4% higher) as companies who don’t have your custom already and are offering lower interest charges to entice customers from other lenders.

What to do is not to jump in too the first loan that you look at, but to shop around and search out the best loan that suits you, we all know that by taking out a loan, it is a sensible option for spreading the cost of the wedding, because as the average wedding now costs in the region of £17,000, spreading the cost is an option most of us would have to take, so just remember to think what you could with that cash you have saved, by taking your time and getting the best loan deal that you can, because the difference can be frightening.



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