Wedding loans

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Check which wedding loans you could be eligible for, without affecting your credit score
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What is a wedding loan?

A wedding loan is an unsecured personal loan. If you get accepted, you can borrow the money you need to pay for your wedding upfront, then repay it over a set period to help spread the cost.

The average cost of a UK wedding in 2024 was around £20,000, according to wedding planner Bridebook, or almost £26,000 if you include the rings and a honeymoon.

When the big day comes with a big bill attached, it’s no wonder many couples seek some form of financial support.

How do wedding loans work?

Since personal loans are unsecured, you won’t need to put up a valuable asset, such as your car or home, as security. But you’ll usually need a good credit score for your application to be accepted.

Here’s how a wedding loan works:

Apply for a wedding loan
Decide how much you want to borrow and for how long. Typically, you can pay back a wedding loan over one to five years. Some lenders allow you to take out a loan over 10 years if you’re borrowing a larger amount.
Wait for the money, then use it to cover your costs
If your wedding loan application is approved, you’ll receive the money in your bank account within one to two days. You can then use it to cover the costs of your big day.
Repay the loan
You’ll need to pay back the loan, plus interest, in fixed monthly instalments. It’s a good idea to set up a direct debit to make sure you don’t miss a repayment.

How much should I borrow for a wedding?

In an ideal world, you’d be able to pay for your celebration out of savings and avoid starting married life with a large debt. But wedding day costs can quickly add up, so it’s not surprising that many couples consider a loan to fund part or all of it.

Start by working out an overall budget before breaking it down into categories to see where you might be able to cut back. Once you have a clear cost in mind, you can decide how much you want, or need, to borrow. It can also be a good idea to include a bit extra to account for any unexpected expenses.

How much do loans for weddings cost?

What you’ll pay depends on how much you borrow, the length of the loan and the interest rate you’re offered.

Loan amount: the greater the amount you want to borrow, the more you’ll have to pay back.

Length of the loan: if you choose to repay the loan for your wedding over a longer term, it will lower the size of your monthly repayments. But since you’ll be paying interest for longer, the overall cost will be greater.

Interest rate: the higher the rate, the more expensive your borrowing. What you’re offered by a lender will depend on your credit score. The best loan rates are typically offered to applicants with a good credit score.

Use our wedding loan calculator

If you decide you need a loan, our wedding loan calculator can help you work out what your monthly repayments could be and how much the loan could cost overall.

Can I get a wedding loan?

It depends on your personal circumstances. You’ll generally have a better chance of being accepted for an unsecured wedding loan if:

You have a good credit history: lenders want to know that you’ve managed debt well in the past and that you can be trusted to pay back what you borrow.
You have a steady income: a lender will be more likely to approve your loan application if you have a regular income.
You can afford the loan: responsible lenders will look at your current debt and regular outgoings, alongside your income, to assess if you can afford the loan.

Most banks and building societies offer unsecured personal loans of between £1,000 and £25,000, but some will lend as much as £50,000.

See what loans you’re likely to be accepted for without impacting your credit score.

Find a loan

What are the pros of taking out a wedding loan?

Here are some of the benefits of taking out a loan to help with your wedding:

Fast access to funds – once you’ve been approved for a wedding loan, you could have the money in your bank account within a couple of days.
You can spread the cost – you’ll have flexibility over how much money to borrow and for how long. A shorter term loan means you’ll pay less interest overall. Pick a longer time frame and your monthly repayments will be lower but there’ll be more interest to repay.
Fixed rates – you’ll repay a set amount each month, which makes it easier to budget.
You can boost your credit score – paying off a wedding loan on time and in full can help build your credit score.

What are the cons of a wedding loan?

A wedding loan can help you have a day to remember, but there are downsides to consider:

You need a good credit score to get the best wedding loan rates – the interest rate you see advertised may not be the rate you’re offered (unless it’s a guaranteed rate).
Your credit score could be damaged – if your circumstances change and you find you can’t make the repayments, it will have a negative effect on your credit score.
It might not be the cheapest way to borrow – a wedding loan isn’t the only way of financing your big day. Compare your options to see what works out best for you.

Can I get a wedding loan with bad credit?

It could be possible to get a wedding loan with bad credit. However, you may have less choice and the loan might come with restrictions, such as a limit on how much you can borrow. You’ll likely be charged a higher rate of interest too.

When you apply for a loan, lenders look at your credit history to help them decide how much to lend to you and what interest rate to charge.

If you have a poor credit rating, you’ll typically find it more difficult getting approved for an unsecured wedding loan. And you won’t be eligible for the best wedding loan rates.

To find out how likely you are to qualify for a bad credit loan, use our loan eligibility checker. It will show you which loans you’re likely to be accepted for and won’t impact your credit score.

What are the alternatives to a wedding loan?

If you're looking for different ways to help finance your big day, you could consider:

0% purchase credit card

A 0% purchase credit card lets you make purchases upfront and pay off what you’ve spent, interest-free, over a set period. Clear what you owe by the end of the 0% period and the credit won’t cost you anything.

If you’re not able to pay back what you owe within this time, you’ll need to pay at least the minimum repayment each month.

Interest-free overdraft

If you need money in the short-term – to secure a venue, for example – you could use an interest-free overdraft if one’s available to you. You’ll need to talk to your bank to see if this is possible. But be aware that you’re likely to be charged if you go over the overdraft limit.

A family loan

You could borrow from a family member, who might be happy to lend to you without any charge (or perhaps at a low rate of interest).

But bear in mind that it could put a strain on your relationship if you struggle to repay the loan. To avoid this, you could draw up a statement beforehand to agree on monthly repayments.

Saving up

If you’re itching to get hitched, saving up can feel impossibly slow. But the upside of waiting is being able to start your married life debt-free. Even if you’re not able to fund the whole wedding with your savings, the more you can cover without borrowing, the better.

Shared budgeting may not be massively romantic but it’s an important part of married life. Sit down together and work out what you could save each month for your wedding.

What do I need to get a wedding loan quote?

To get a wedding loan quote, you’ll need to give us a few details, including:

How much you want to borrow
How long you need to pay it back
Your annual income
How many people depend on you financially.

Use our eligibility checker to find loans you’re most likely to be accepted for. It’s a soft search, so there’s no impact on your credit score. Once you’ve chosen a loan that’s right for you, you’ll be transferred to the lender’s site to apply.

Try our eligibility checker

What our expert says...

“A wedding loan can help you have the day you always dreamed of. But it’s vital to budget carefully so you can comfortably afford the monthly repayments. And try to pay back the loan as quickly as you can to reduce the amount of interest you pay.”

- The Editorial Team, Experts in personal finance, insurance and utilities

Frequently asked questions

Can I make an overpayment on a wedding loan?

Under the Consumer Credit Directive (CCD), you can overpay a personal loan at any time. But there may be penalties and conditions attached.

You can typically make partial overpayments of up to £8,000 a year without paying charges.

If you overpay by more than £8,000, you could be charged up to 0.5% or 1% of the overpayment amount, depending on whether there’s less or more than a year left on your loan.

What happens if my wedding is cancelled?

You’ll still need to repay your wedding loan in full if your ceremony doesn’t go ahead.

If you’ve already paid for some parts of the wedding and you’re unable to get a refund, you might be able to claim back what you’ve paid if you have wedding insurance.

Please note, you can’t compare wedding insurance with Compare the Market.