Wedding Loans
Considering a wedding loan to fund your big day? Find out what loans you’re eligible for without impacting your credit score.
Representative 26% APR
When you’re planning your wedding day, you want it to be unforgettable – but the costs can quickly add up. Whether you’re using a Personal Loan to fund the whole event or to top up your budget, the good news is you don’t need a specialist loan to pay for a wedding.
With a panel of trusted UK lenders, we can help you find the right loan at the right rate for you. Check if you’re eligible for a loan without impacting your credit score to give you an online decision in minutes.
Can I get a loan to pay for my wedding?
Yes. A loan can help you pay for your wedding. Weddings are expensive, with the average cost in the UK just shy of £20,000. It’s a significant sum of money that you might struggle to pay for all at once.
Many people take out a personal loan for a wedding to help cover some or all of the costs. With the money in the bank, you can concentrate on planning your big day and enjoying the celebrations.
What are wedding loans?
Simply put, a wedding loan is a personal loan that you can use to fund any part of your wedding. You could use a wedding loan to cover expenses such as:
- Booking deposits
- Venue hire
- Wedding dresses and suits
- Catering
- Accommodation
- Vendor payments (such as musicians, florists, photographers or videographers)
How do our wedding loans work?
We don’t provide a specialist wedding loan product. Instead, you can compare personal loans through Asda Money to help you cover the cost of your wedding.
We have a panel of carefully selected and trusted lenders. Let us know your borrowing requirements and complete an eligibility check, and we’ll search our lender panel to find a range of loans that might suit you.
Simply compare all the available loans and pick the right one for you. You can continue directly to your chosen lender.
How much can I borrow?
Most people look to borrow between £1,000 and £25,000 for a wedding loan. At Asda Money, we give you access to our panel of lenders who offer loans up to £25,000.
How much do wedding loans cost?
The individual lender will determine the interest rate and repayment term (usually between one and seven years).
What are the pros and cons of wedding loans?
Weigh up the pros and cons of wedding loans before you apply:
Benefits of wedding loans
- You can borrow a lump sum to use exactly how you want for your dream wedding.
- Generally, the money will be available within a few days of approval.
- Repaying on time can help boost your credit score by showing lenders you can borrow responsibly. This is useful when applying for a mortgage.
Drawbacks of wedding loans
- Late or missing payments could affect your ability to take out another loan in future.
Things to consider when taking out a wedding loan
As with all loans, you’ll pay back more than you borrow due to interest rates.
If your current credit score is low, the loans available to you may have a higher interest rate.
Consider how taking out a loan for a wedding will fit in with your future plans. If you’re unable to make the monthly repayments, this could negatively impact your credit score.
Wedding loans with bad credit
If you have a low credit score or haven’t built up a credit history, this may affect your ability to borrow now. Some lenders may still be willing to lend to you, but you may have fewer options than someone with a higher credit score. These loans may offer a lower total sum at a higher interest rate.
Another option may be a guarantor loan, where a close friend or family member agrees to pay the debt if you can’t repay it. It’s important to consider a guarantor’s financial commitments and any pressure that extra payments might create.
Alternatives to wedding loans
Credit card
Depending on how much you want to borrow for your wedding, it may be more suitable to apply for a credit card. You could also consider paying for some items on credit card, and applying for a smaller personal loan for other expenses. This could make your monthly loan payments smaller.
Borrowing from family
Can you borrow money from a family member to pay for some or all of the wedding? If so, draw up a legal loan agreement to make sure conditions are set out in writing. Include the loan amount, the interest rate, the value of each payment, when payments are due, and the duration of the loan.
Saving up
Put together a monthly budget and see how much you can realistically save. This option might mean reducing your wedding budget, delaying the big day or lowering your monthly expenses in the lead up, but it could be worth the extra effort in the long run.
All sorted for your big day? No problem. At Asda, we help you compare loans for everything from Cars and Holidays to Home Improvements and Debt Consolidation.
Why choose Asda Personal Loans?
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The Asda advantage
Known for putting value for money at the centre of everything we do
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One simple form…
Receive quotes from a trusted panel of lenders without harming your credit score
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Asda service, Asda value, expert providers
A loan offer that’s right for you and your circumstances
Top Personal Loans FAQs:
- Why choose a Personal Loan through Asda?
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Customers could access great rates from carefully selected trusted lenders, so you can sit back and let us do the leg work. What’s more, when you search for a personal loan, you’ll only have a soft search on your credit history, which means you can check your eligibility without harming your credit score.
Once your loan is approved, you could receive your funds the same day.
- How does it work?
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Asda is in partnership with Aro which is a trading style of Aro Finance Limited, who are a leading credit broker to offer our customers a different solution to borrowing money and finding a loan. We work alongside Aro so we can provide our customers with the right offer from a panel of handpicked trusted lenders.
With one eligibility check, you can search a panel of carefully selected lenders and provide you with a loan tailored to your needs. Once you have been approved you will receive your funds which could be in your account as quickly as the same day.
So sit back, relax and let us do the hard work.
- Who are your lenders?
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We have carefully selected a number of trusted lenders to be on a panel. You can search the panel to provide you with the very best offer you are eligible for. Find out more about each of our lenders here.
If you have any questions on our lenders, please call our Customer Service Team on 0333 555 0560 and a colleague will be happy to help.
- How much can I borrow?
- Will applying affect my credit rating?
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No. One of the best things about our service is you get access to a panel of trusted lenders with no hard credit footprint left on your credit file. When you apply with us, a soft search is completed which doesn’t harm your credit score.
However, if you do proceed with an offer from your search with us, the lender will complete a hard search. This will show on your credit file.
- What credit score do I need for a bank loan?
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Strictly speaking, there is no minimum credit score for you to be approved for a personal loan. If you have a strong credit score, more lenders may be willing to lend to you with better interest rates on offer. If you have a lower credit score and have had problems borrowing in the past, you may find a smaller pool of lenders are willing to lend to you. You may even have to look for a specialist lender that offers loans for bad credit.
- Can I get a loan with a CCJ?
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If you have a county court judgement (CCJ) against your name, you may struggle to get a personal loan with mainstream lenders. However, you may find specialist lenders that are willing to lend to you.
- Can I borrow money with bad credit?
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If you have bad credit or have had money problems in the past, you may find that some lenders aren’t willing to lend to you. Those that are may only do so with higher interest rates. It’s worth looking at specialist lenders for bad credit loans. Or you can work on your credit score to improve it before applying for a loan.
- Why won’t my bank give me a personal loan?
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Lenders look at a variety of factors when deciding on whether or not to offer you a loan. They each have their own criteria which will take in your credit score, job, monthly income and more. If you have been rejected by a lender, you can always ask them why and hope they will give you some insight into their lending criteria. They may direct you to one of the main three credit bureaus to find out more information.
- Do personal loans look bad on credit?
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When you apply for a personal loan with a lender, this will show up on your credit file. Your credit score may take a very small hit in the short term once you take the loan out. But if you pay your monthly payments on time and in full, this can have a positive impact on your credit score.
- How to get the lowest rate for a personal loan?
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The interest rates offered by lenders depend on a range of factors including how much you’re borrowing and the length of the loan. They will also look at your credit score. To help get a lower rate, you can look to improve your credit score by signing up to the electoral register, closing old accounts, checking for any errors on your report, and paying all your bills on time. You may also consider increasing the length of the loan or borrowing less.
- Can I take out a loan if I already have one?
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Yes, you can. When you apply for a new personal loan, lenders will look at your existing borrowing to see if you can afford the second loan. Many people choose to take out a new loan to consolidate existing borrowing – whether loans or credit cards – into one loan with a single monthly repayment.
Please remember that by consolidating existing borrowing, you may be extending the term of the debt and increasing the total amount you repay.
About our trusted provider, Aro
Asda is in partnership with Aro which is a trading name of Aro Finance Limited. Both Asda Money and Aro are credit brokers, not lenders. We offer our customers a different solution to borrowing money and finding a loan.
We work alongside Aro so we can provide our customers with their very best loan offer from a panel of handpicked trusted lenders.
With one simple eligibility check, our panel of lenders can provide you with a loan tailored to your needs. It’s also a safe way to find a loan without negatively affecting your credit rating.
Other Links
ASDA Money is a trading name of Asda Financial Services Ltd who are an Introducer Appointed Representative of Aro which is a trading name of Aro Finance Limited (company number 06297533) of Atlantic House, Atlas Business Park, Simonsway, Manchester, M22 5PR. Aro acts as a credit broker and not as a lender and is authorised and regulated by the Financial Conduct Authority (FRN 662079).
Terms and conditions apply. UK residents aged 18 and over. If you take out a loan, Asda Money and Aro receive a commission payment from the lender. Different amounts of commission are received from different lenders and the amount will be either a fixed amount or a percentage of the amount you borrow and dependent on the lender you select. We will not charge you a fee for our services.