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You'll need something borrowed to wed, says Alliance & Leicester

12 February 2005
Whether you'll have something blue at your wedding is a matter of taste, but you'll certainly need something borrowed, new research by Alliance & Leicester Personal Loans reveals.

According to the building society, UK adults are set to spend a total of £12 billion on getting married in 2005 - the average wedding day costs £15,000.

One in five will have to resort to a loan in order to meet those costs, and a quarter of those will opt for a personal loan, so Alliance & Leicester is emphasising that it is worth shopping around for the best deal.

The majority of those seeking a personal loan- 80 per cent- looks to one of the 'Big Four' banks (Barclays, HSBC, Lloyds TSB or Natwest) but the building society warns that you could pay over the odds in interest.

This could be a much as £1,800, Alliance & Leicester asserts.

"Weddings need careful planning; by shopping around for the most competitive personal loan, like you would the wedding flowers or the caterers, huge savings can be made," explains Ash Mukadam, personal loans manager at Alliance & Leicester.

"Without looking around for a personal loan, couples may as well tear up £1,800 and use it as confetti."

To find out more about personal loans, click here.
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