Should Brits take out loans for weddings?

As most married couples will already know getting married can be an expensive affair if you want all the trimmings, and those that are looking to have the perfect wedding, entertain guests, provide food and entertainment, and round things off with a romantic honeymoon will know that the cost can run into thousands of pounds.

In the current financial climate it can be difficult for couples to save the kind of money that they need for a wedding within a reasonable space of time, particularly if they also want to put a deposit down on a property. It would therefore be natural to think that many couples look into taking out a loan for their special day.

Many couples do turn to personal or wedding loans in order to pay for the big day, and those that do are advised to look for the best rate of interest and the best deal possible, although some people may be put off from starting their married life in debt.

Whilst those getting married may consider a loan for their big day, recent research has shown that attendees are far less likely to take out a loan in order to pay for expenses at the weddings of their loved ones. In fact, Santander carried out research showing that only 1 percent of Brits would actually take out a personal loan to fund the cost of going to the wedding of a loved one.

Emma Roberts from Santander said: “It’s easy to overlook the cost involved in being a wedding guest but the outlay can be significant, both before and during the big day. The last thing people want to be thinking about when preparing for a loved one’s wedding is the expense involved but costs can quickly mount up.”

Tags: loan, Marriage, debt, wedding, Brits, property, interest, whilst

Is wedding insurance cover a good idea?

As a nation we Brits love to feel secure and safe with total peace of mind that we have done all we can to protect ourselves and our loved ones from a range of eventualities. This is why the insurance industry has become so huge, with Brits taking out all sorts of insurance policies to cover all sorts of circumstances. From travel insurance and home insurance to insurance for our pets, cars, mobile phones, health, and even our lives, insurance is something that gives us a sense of security – and often helps us to avoid the huge financial losses that we may otherwise have faced without it. Read more

Tags: total peace, something, security, Marriage, Insurance, reception, travel

Calculis: “No such thing as common law marriage”

Calculis, the independent financial advisory, has said today that the idea of a common law marriage is a myth as it is not legally recognised, as many people believe.

Director of Calculis Alex Pegley said that many people who live together think they have the same rights as a married couple but don’t realise they could be subject to things such as inheritance tax.

According to Advicenow, most people think that they become law husband and wife with the same rights as a married couple after they have been living together for a few years.

However, in reality such couples have hardly any rights compared with married or civil partners but they often only find out this is the case when they separate or when one partner dies.

To avoid being stung by inheritance tax, Mr Pegly advises couple to talk to a financial advisor, saying: “It doesn’t have to mean giving assets away; have a chat see what you can do without losing access to your capital.”

Tags: alex, Marriage, husband and wife, director, Mr Pegly, Relationships, law husband, law