Secured Wedding Loans
Borrow with us and you could receive your loan in a few weeks
Borrow up to £250,000
Flexible terms from 3-25 years
We consider all credit histories
Employed, self employed, pension and benefit income
We're a direct lender, so there are no hidden broker fees
Representative Example: A secured loan of £43,000 payable over 9 years on a fixed rate of 10.43% for the first 5 years, followed by a variable rate, currently 12.00%, would require 60 monthly payments of £651.19 followed by 48 monthly payments of £670.67. The total amount repayable would be £71,263.56, this includes interest, an arrangement fee of £1,999 and a processing fee of £499. The overall cost for comparison is 12.9% APRC representative.
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:
1: 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.
2: Your details
One of our qualified advisors will call you to discuss your enquiry and work out a monthly payment that meets your needs and circumstances.
3: We'll do the rest
We'll help you complete the paperwork and any other supporting documentation required.
What do our customers say?
You can relax knowing you’re working with a highly rated team. But don’t just take our word for it, visit our website and read our reviews – they speak for themselves.
Secured wedding loans
Secured wedding loans are a way of borrowing money, where 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.
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.
Why choose Central Trust?
35 years' experience
We are one of the UK's longest established specialist lenders trading since 1988 giving us over 35 years' experience providing secured loans, homeowner loans and second mortgages.
Simple application process
You can call our team directly on 0800 980 6273 (Mon-Fri:8:00am-7:00pm) or you can enquire online at any time using our quick and easy online form.
All credit considered
We understand that life happens and there's more to your story than your credit score or recent pay slip. So if you have a less than perfect credit score we could still help.
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.
Case studies
Home improvement loan
For an applicant with poor credit history.
Secured loan
For a self-employed client with limited trading history.
Debt consolidation loan
For an applicant with multiple lines of credit.
Ready to enquire?
Talk to our qualified mortgage experts now
Friendly UK based advisors
Enquiring won't affect your credit rating
Fast turnaround times 7-10 days is possible
No phone menus - immediate contact from our advisors
We are a direct lender, so we'll work with you from start to finish
FAQ's
The main costs of a secured wedding loan are the fees and interest rate. However, the total cost of a secured wedding loan can also depend on different factors, such as:
- Loan amount – how much you are looking to borrow
- Loan term – your monthly repayment will depend on how long you intend to borrow the money for
- Fees – this includes arrangement fees (also known as lender fees) and broker fees (if you decide to use a broker). If you choose to get a loan directly through us at Central Trust, there are no hidden broker fees (lender fees do apply).
- Early repayment charges (ERC’S) – If you wish to repay the loan in full before your mortgage term has ended, you could be charged an early repayment charge. This is because the lender will be losing out on future interest payments. However, the amount (if any) depends on the lender.
Ultimately, your loan amount, loan term and the interest rate you are offered will determine how much your monthly payment will be.
The amount you want to borrow depends on the type of loan you choose. If you are looking to borrow a large amount of money, a secured loan may be a better option. It’s important to mention that you should only borrow as much as you need to need to, the more you borrow the more interest you will pay. As mentioned above, with an unsecured loan you can typically borrow less as lenders do not have the security of your property to fall back on.
There are other factors that can affect the amount you can borrow from a lender:
- Your income
- Existing debts
- Lender’s LTV ratio
- Your credit score
- Direct debits or other loans
Secured wedding loans work like most other loans. You will be required to make regular monthly repayments for a set period of time. If you choose a longer repayment term, your monthly repayments will be lower, however you will pay more interest overall. A shorter repayment term will have higher monthly repayments, but it means you will pay back less interest in total.
Just like other mortgages, you will likely have either a fixed or variable rate. A fixed rate means you will always repay the same amount of money each month, and a variable rate means that the amount you repay can go either up or down.