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Avoid The Thorn Of Bad Credit Score: Bad Credit Wedding Loans
You are about to tie your nuptial knot! It is a special event for you. Your wish is to celebrate this ceremony in an unforgettable way. Aiming at starting the new phase of life through a marvelous marriage party, you have planned to embellish the occasion flawlessly. But one thing you are forgetting… you are short of cash. On top of it, you have bad credit score. You can set aside the thorn of bad credit score from your wedding aisle with bad credit wedding loans.
The financial assistance of bad credit wedding loans is made for all types of bad credit scorers. It includes CCJs, IVAs, arrears, defaults, bankruptcy, late payment etc. Now they can finance their wedding without any hassle.
A borrower, having bad credit score can avail these loans both in a secured as well as in an unsecured form. For availing the secured option, borrowers need to pledge something to lenders for securing the lending amount. As security, borrowers can use various things including home or other real estate, automobile and so on. Contradictory to this, the unsecured option facilitates all types of borrowers in financing their marriages. It means, if you are a tenant, you also can get the benefit of these loans.
However, as bad credit wedding loans, borrowers can avail anything in between £3000- £50,000. Using a high valuable security favors borrowers in availing more. These loans are mainly given for 5-25 years. But generally the repayment period varies from lenders to lenders.
Bad credit wedding loans are available with fixed rate and variable rate option. In case of fixed rate option, borrowers need to pay a fixed amount during their loan term. Oppositely, in case of variable rate option, the interest rate varies according to the changes in loan market.
In this context, one point needs to be discussed. Since bad credit wedding loans are offered to the borrowers who have bad credit score, thus, the interest rate of these loans is a bit higher. But there are some alternatives, which facilitate borrowers in getting these loans at a competitive interest rate. These are like, if borrowers use high valuable collateral against the lending amount, then he can avail these loans at a better rate. On the other hand, by shopping for a best deal, a borrower can get some relaxation on the interest rate.
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