Every citizen dreams about that perfect wedding he has seen either on television, or witnessed it sometime or the other. A perfect wedding is any couples dreams come true. However, this does come with a hefty price tag. Wedding loans help such people get the funds they require for this holy matrimony.Bad credit wedding loans are a boon for those who are getting money. They can be availed in either a secured or an unsecured form. The borrower can pay the money back leisurely owing to the flexible repayment tenure.
In the secured form of this advance, the lender requires the borrower to place some sort of property as collateral against the loan to avail it, which is why the lender charges a low interest rate. However, the borrower faces a big risk of losing possession of his property if he is unable to pay the amount back.
People, who suffer from a bad credit history, can also apply for this credit. The amount that can be borrowed lies in the range of £500 to £100000 and can be paid back in a time period of 1 to 25 years.
The borrower is not required to place any sort of security or asset as collateral to avail the fund in the unsecured version. However, the lender does not have any assurance if his money will be paid back to him or no. To avoid this risk, the lender charges the borrower with a slightly higher rate of interest. The candidate can borrow any amount lying in the range of £1000 to £25000 and should pay back in tenure of 1 to 10 years.
The best way of applying for this loan is by the online mode of application. The money is directly transferred to the borrowers bank account.
Summary:
Wedding loans help a persons dream of having a lavish wedding come true. They can be availed in a secured or unsecured form. Those who suffer from a bad credit history can also apply for this fund.
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