Secured Wedding Loans

Representative Example: A secured loan of £31,000 payable over 7 years on a fixed rate of 9.83% for the first 5 years, followed by a variable rate, currently 9.69%, would require 60 monthly payments of £553.17 followed by 24 monthly payments of £552.39. The total amount repayable would be £46,447.56, this includes interest, an arrangement fee of £1,999 and a processing fee of £499. The overall cost for comparison is 13.1% APRC representative.

Secured wedding loans allow you to borrow money for a wedding, using an asset such as your home is used as security. Using your home as security means lenders could have more confidence in you as a borrower to repay your debt, in comparison to an unsecured loan which requires no collateral.

It is important to note that all loans come with risks. If you fail to repay the loan, then this will affect your credit history. If you are unable to keep up with your payments your home is at risk of being repossessed, so it is important that you choose a loan that you can afford and are able to commit to.

Get a loan for a wedding from us. At Central Trust, we would only ever repossess a property as an absolute last resort. We always work closely with any of our customers who may be struggling to find more suitable options.

Types of loans you can use to pay for a wedding

There are different types of borrowing to finance a wedding. The two main types are secured and unsecured loans.

Secured loans could be an effective way to pay for your wedding as you could borrow the amount you need quicker than if you decided to save. Also, secured loans could offer lower interest rates than unsecured loans which could make your monthly payment cheaper. It is necessary to state that if you are unable to pay this loan, this could impact your credit file. Other risks include potential legal fees for missed payments or losing your home. It is also important to consider whether it is suitable to secure the loan against your home or whether a different finance option would be more suitable. Therefore, before enquiring for a secured wedding loan it is important to consider these potential risks.

Unsecured loans can also be used to pay for a wedding. However, these are usually used by people without bad credit, this is because they could be considered ‘more of a risk’ as they do not have their property as collateral. Unsecured loans usually offer quick access to money. However, this method is more suitable for those who are looking to borrow a smaller loan. Unsecured loans can bring higher interest rates to you as the consumer, so it is important to consider your financial circumstances before enquiring for an unsecured loan.

Wedding loans with bad credit

If you have a poor credit score or have struggled with debts in the past, you could still get a secured wedding loan. Even if you’ve been turned down by lenders in the past due to your credit history, it doesn’t mean that every mortgage lender will turn you down.

Unsecured lenders are less likely to accept applicants with bad credit. However, secured loan lenders will be more confident in you to repay the loan as you are willing to offer your home or property as security against the debt.

At Central Trust we consider all credit histories, including defaults, CCJ’s, or missed payments. So, if you have a poor credit score and are looking for a secured loan to finance your wedding, contact us today and we’ll do our best to help you.

Why choose Central Trust?

Fast and Simple Process

You could access funds within days by calling our team directly or enquiring online.

Over 35 Years’ Experience

We are committed to responsible lending, clear communications and good customer outcomes throughout the borrowing journey.

Authorised and regulated by the FCA

We are committed to responsible lending, clear communications and good customer outcomes throughout the borrowing journey.

Your Loan,

Tailored for You.

Consolidating debt? Paying for a large expense like home improvement or a wedding? We have you covered.

Unlike many other lenders, there is no strict automation to our lending decisions. Your application is assessed by our team, not by a computer.

What do our customers say about us?

How it works

Organising your finances can sometimes feel stressful, but we want to make it as easy as possible for you.
In just 3 simple steps you could have the money in your bank account. All you need to do is:

Enquire

Complete our quick and easy online enquiry form. Alternatively, you can speak to an advisor instantly by calling us or starting a live chat.

Share

One of our qualified advisors will call you to discuss your enquiry and work out a monthly payment that meets your needs and circumstances.

Complete

We'll help you complete the paperwork and any other supporting documentation required. Everything can be completed electronically, or on paper if you prefer.

What To Do If You Can T Afford To Repay Your Secured Loan

Ready to enquire?

Call an advisor free on:
0800 980 6273

Friendly UK based advisors
Enquiring won't affect your credit rating
Fast turnaround time 7-10 days is possible
Immediate contact from our advisors
We are a direct lender

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FAQ's

What should I consider before taking out a secured loan for a wedding?

Taking out a secured loan for a wedding means tying your property to the debt. It's important to be aware of the risks before going ahead with the loan.

The key risks associated with a secured wedding loan are:

The risk of repossession: A secured loan uses your property (or another high-value asset) as collateral. If your financial circumstances change and you cannot keep up with the monthly repayments, the lender has the legal right to seize and sell your home to recover the debt.
Affordability and budgeting: Because secured loans are paid back over a longer period of time, the amount of interest you pay will increase over time. It's important that you can afford to make your payments on time, so you should calculate whether or not you can afford to keep up the monthly payments, even if interest rates rise or your household income drops.
An alternative option being a better solution for you: Have you considered all your options or been advised on what choices are out there for you? If your credit score is strong, you might qualify for an unsecured personal loan which does not tie to your property.

Is it good idea to get a secured wedding loan?

How much can I borrow for a secured wedding loan?

I need advice, who can I speak to?

We have 30 years of experience in helping people find the right type of loan for their circumstances, specialising in secured lending for people that have previously been turned down by high street lenders.

If you are considering taking out a secured wedding loan and would like to discuss your options with a qualified advisor, call us on 0800 980 6273.