To the happy couple, on your expensive special day: a £5,897 loan

Hayley Kirton
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Couple Wed At Festival House In Front Of Blackpool Tower
Couples have applied for £8.6m of loan financing so far this year (Source: Getty)

Even those who don't usually cry at weddings will admit that the £151m worth of wedding loan applications received by one company between 2013 and 2015 is eye-watering.

Freedom Finance also revealed today that it had received £8.6m in loan applications from happy couples looking to raise some extra cash for their special day in January and February of this year alone.

So far this year, soon-to-be-weds have been relatively modest with their requests, with an average loan per applicant of £5,897, compared with £6,624 in 2015.

"As we come to the start of the wedding season, it is interesting to look at the extent that British couples rely on credit for their wedding plans," said Nicola Georgiou, managing director of Freedom Finance. "It is also clear that more and more consumers are applying for loans for luxuries and weddings in 2016. We attribute this to increased consumer confidence and continuing low interest rates meaning less people are looking to pay off debts."

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