Secured & Unsecured  Wedding Loans

Wedding loans are kind of personal loans- that can be either secured or unsecured depending on your credit picture. 

Secured loans:

In order to apply for a secured loan you must be a homeowner. 
These loans can be used for any (legal!) use and generally 
have a lending limit of £250,000. As a homeowner, you might 
well want check out the alternative of re mortgaging as 
apposed to a secured loan. 

Secured loan Pros:

1.Can be arranged and completed in a matter of days. 
2.Much higher lending limit that unsecured loans.
3.Lower interest rates than unsecured loans.

Secured loan Cons:

1.Secured on your property (your home)

Unsecured loans:

Unsecured loans are an excellent way to borrow for almost
any reason. It allows you to structure a loan to be paid off 
over a specific period of time with set monthly payments.

Unsecured loans can be used for any use and as by 
their name, are not secured on any equity. Inherently 
difficult to arrange and they tend have VERY high 
interest rates as apposed to secured loans or re mortgages. 

Unsecured loan Pros:

1.Not secured on any equity.
2.Fixed interest rate options.
3.Flexible payment terms.
4.Select your own payment due date.

Unsecured loan Cons: 

1.Normal loan limit of £12,500 
2.Difficult to arrange. 
3.Tend to have VERY high interest rates