The parents of every young bride would like to give their daughter a wedding to remember, one full of elegance and sophistication, surrounded by friends and family enjoying their special day and bearing witness to such an important event. With the rising cost of weddings some might only be able to have the funds to afford a pub lunch, as the bride's family watch Uncle Fred dancing on the bar with a lampshade on his head.
The average wedding costs have doubled in the last 10 years from around £12,000 to a jaw-dropping almost £25,000, and with inflation on the rise, the cost could be even higher. Add on the cost the honeymoon and that number rises to an eye watering £30,000. In fact, even the sheer volume of weddings are on the rise thanks in part to the covid restrictions and couples just not wanting to put off the big day any longer that they have to, and with the limited choices of venues, it just helps to push the costs up even further.
How do you finance such an important life changing event? Credit cards are an expensive option, even if your client could get a £30,000 limit. They could try and take out a personal loan, which would be tough for such a large amount. The terms of the loan could be relatively short and could make the payment quiet high. And with more and more people with less than perfect credit, thanks to covid, redundancies or the current cost of living crisis, funding from the High Street is getting tougher to obtain.
However, there is a solution, one that would be even more cost-effective way to cover the costs. A West One second charge mortgage.
With a more competitive rate compared to personal loans and credit cards, your client can take the out loan anywhere from 3 to 30 years to help make the monthly payment more manageable as long as the term ends by age 85.
We take a holistic approach to lending looking at your clients as more than just a credit score.
Whether your clients is in full-time employment, self-employment or even retired with a good pension income, a second charge loan from West One can give their daughter her dream wedding.
As long someone remembers to keep Uncle Fred away from the lampshades.
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