With two top-notch weddings round the corner, financial providers have come forward with some advice for the eminent couples to help them save substantially by making intelligent wedding expenditure plans.
Barclays and Alliance & Leicester have set their eyes on the forthcoming celebrity weddings of Ken Barlow and Deidre Rachid and Prince Charles and Camilla Parker-Bowles in Coronation Street. Alliance & Leicester noted that both Ken and Charles had last said ‘I do’ way back in 1981 after which average wedding expenses have escalated colossally by 760 per cent.
Meanwhile, Barclays anticipated average wedding costs to touch £16,200 this year. Mike Rogers, MD of UK retail banking at Barclays said that marriage costs were increasing by about 8 % each year and “couples shouldn't get carried away and splash out on a Royal wedding if they have a Coronation Street budget."
What these rising wedding costs also implied, according to A&L, was the high probability of at least one in five couples resorting to loans to meet their overriding wedding expenses. This in turn would lead these prestigious couples to high street banks that would burn a hole in their pockets.
Hence, Alliance & Leicester suggested that couples opted for a market-leading loan instead of a loan from a high street bank since that would help them avoid at least £1,700 on interest payments.
Ash Mukadam, A& L personal loans manager said that prominent couples ought to ‘shop around’ for the best loan deals and to save money on interest payments, instead of hastily assuming high street banks to be the best deal vendors.
Posted
on : Tue, 05 Apr 2005 00:00 GMT | Loans News
By : Paula Jenkins
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