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Wedding loans
You’re getting married! Congratulations! With a Halifax wedding loan, we can help make budgeting for your special day that little bit easier.
The cost of a wedding can be an eye-watering amount. Here are a few tips to help you cut costs.
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If you’d prefer to speak to someone, give us a call or pop into your nearest branch.
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You can apply for a wedding loan if:
- You’re aged 18 or over and live in the UK (excluding the Channel Islands and Isle of Man).
- You’re in paid employment or have regular income.
- You’re not a full time student.
- You haven’t had a request for credit declined in the past month.
- You don’t have a history of bad credit such as bankruptcy or CCJs.
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Saving as much as you can afford before you get married is often the cheapest way of paying for your wedding. However, we know it’s not always that easy and you may need to borrow to cover some costs.
A loan can help you to spread the cost of your big day but you’re likely to pay interest on it. This means it’ll cost you more overall. You’ll need to decide whether the interest charged is worth the convenience of paying in fixed monthly instalments.
You can use our loan calculator to get an idea of what your monthly repayments may look like.
If you do want to borrow money to help pay for your wedding, there are many options available, such as credit cards and overdrafts. It’s important to choose the one that suits you best. View our borrowing options or learn more about how you can pay for a wedding.
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You can use our wedding loans to pay for just about any aspect of your big day, from the venue to the photographer and everything in between. However, as our wedding loans are just personal loans, you don’t actually have to use it for your wedding if you don’t need to. Once you have the money, you can use it for just about anything, but there are some restrictions. We can’t give you a loan for:
- Gambling
- Investments, such as stocks, shares and crypto currency
- Business reasons
- Land or property - buying, leasing or paying a deposit
- Timeshares or Holiday Clubs
- Anything illegal
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If you get a personalised quote then we don’t do any credit checks, which means you’re credit score won’t be affected.
However, if you go ahead and apply for a wedding loan, we’ll perform a credit check. This is to help us understand if you’re likely to have any issues paying the loan back.
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Basically, the interest helps to work out the cost of borrowing money. We look at lots of things when working out your interest rate, such as:
- Credit history
- Past account history
- How much you want to borrow
- How long you want to repay the loan over
- Other personal details we hold
The interest is added on to your monthly repayments and is fixed for as long as you have the loan.
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When you apply, we’ll tell you how much your monthly repayments will be – this is a fixed amount that won’t change. We’ll start taking the payments by Direct Debit the month after you apply – you can choose a date that suits you and change it if you need to.
If you want to, you can make extra payments with no charge. However, if you pay the loan off early, we may charge you up to 58 days’ interest.
If you miss a payment then we’ll try and take it again within 7 days. If we still can’t take payment then we will charge you £25. You may be charged further if you miss more payments. Full details will be provided when you apply.
Lending and rate are subject to status. Available to UK residents aged 18+.
Loans are provided by Halifax. Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ.