The number of people taking out personal loans to cover their wedding costs has risen by 43% over the last year.
Personal loans worth some £113 million are, according to Sainsbury’s Finance, estimated to have been taken out in the first 4 months of this year to cover wedding costs.
This equates to an estimated 13,600 people taking out loans, compared to 9,500 in the same period last year.
An additional £82 million in loans was taken out to partially cover wedding costs.
There are a large number of personal loan providers so it is worth checking a few to see the best deals you can get.
That said, if you have a bad credit score it will be more difficult to get credit.
If this is the case it’s worth considering how you might improve your credit rating – check out our article on ‘Your credit rating – how to improve it‘, you may find it helpful.