Wedding Loans

Cara Bradley

Written by

Cara Bradley

5 min read

Updated: 12/01/2024

If you’re browsing this page, the chances are that you’re planning a wedding, or thinking about making a start on your arrangements sometime soon - congratulations!

The build-up to a wedding can be hugely exciting; however, turning your dream day into a reality can sometimes be a source of stress, particularly when it comes to money.

Weddings can be expensive. Data released in 2023 revealed that the average cost of a wedding in the UK was £19,184, not including rings or a honeymoon.

If your savings don’t quite stretch to cover the cost of your big day, you might have thought about taking out a loan to help bridge the gap.

What are wedding loans?

A wedding loan is when you apply to borrow an amount of money from a loan provider to pay for expenses associated with your wedding day.

How much money can I apply for with a wedding loan?

Viva Money is a credit broker, not a lender. We work with a panel of lenders who offer loans between £100 and £10,000.
How much money you could be approved to borrow will depend on various factors, including your credit score and affordability.

How long do I have to pay my wedding loan off?

You could repay your wedding loan in monthly instalments from 3 months up to 60 months, depending on how much you borrow.

Who can search for a wedding loan with Viva Money?

To search for a loan with Viva Money, you must:

  • Be over the age of 18;
  • Be a UK resident with a UK address;
  • Have a UK bank account with a valid debit card;
  • Have a regular source of income paid directly into your bank account.

Can I get a wedding loan with bad credit?

Even with bad credit, it may still be possible for you to get a loan, although it’s worth being prepared for the fact that your borrowing options may be limited. You may also find that if you are offered a loan, it may be for a lower amount than you applied for or at a higher interest rate.

Some of the lenders on the Viva Money panel are happy to consider those with less-than-perfect credit scores.

Improving your credit score could increase your chances of being approved for a loan if you choose to apply for a credit product in the future.

You can work on building or rebuilding your credit score by registering to vote, checking your credit report for errors, paying your bills on time, and staying well within your credit limit on any credit card accounts you already have.

How can I keep the cost of my wedding down?

Say ‘I do’ to our savvy wedding saving tips!

  1. Set a budget
  2. While budgeting may seem like the least exciting wedding task, it is actually the most important, and could help to reduce the risk of overspending.
    Before you plan the finer details, break down the cost of each individual item and service that you’re going to need and decide on a realistic budget.
    Take some time, just the two of you, to make a list of things you really want out of your day. These are the things you should prioritise in your budget.

  3. Stick to your guns – and your budget
  4. When planning a wedding, it can be easy to put the demands of others before the wishes of you and your partner. You shouldn’t feel under any pressure to fork out on something that wasn’t initially part of your plan just because somebody has kicked up a fuss about it. Nobody has the right to try to influence your decisions or spending.
    Remain calm, but be assertive. Remember, this is your wedding, and your money. You must do what’s right for you, your partner, and your wallet.

  5. Save the date
  6. Did you know that the time of year that you choose to get wed could have an impact on the overall cost of your big day?
    Wedding season in the UK is typically between May and October, although December weddings are also usually in high demand amongst those dreaming of a winter wonderland theme.
    Tying the knot out of season could save you money, as could being flexible with the actual day you book.
    Naturally, Fridays and Saturdays are the most popular days for a ceremony. If you’re looking to cut costs, consider pricing up a Monday or Tuesday service.

  7. Make your own rules
  8. Don’t be afraid to stray away from tradition. Going down a less conventional route could work out a lot cheaper.
    For example, who says you have to spend ridiculous amounts of money on a wedding cake if it isn’t what you really want? Quirkier options to consider include a cheese board, a donut wall, or an assortment of cupcakes – these unusual alternatives could work out cheaper than a traditional cake as well as provide a unique twist to your celebrations.

I’m worried about money. What can I do?

We’re really sorry that you’re feeling this way. Money worries can be consuming, but it’s important to remember that help is available.
You can access free, impartial money and debt management advice from organisations such as Citizens Advice, National Debtline, and MoneyHelper.

Viva Money are proud to have teamed up with debt charity StepChange to create a Money Health Check quiz. The quiz is confidential and free to take, and the answers you give will generate advice for your current situation.

If you’ve taken out a loan that you are now struggling to repay, contact your lender as soon as possible. We know this can feel daunting, but please try not to worry - lenders appreciate that circumstances can change, and they are not there to judge you. They will want to work with you to come up with a solution.