wedding finance

P

Patrick

Guest
I want to finance a wedding, to take place next spring, in New Zealand. I need ten grand, but I don't want a personal loan. I have a mortgage of 200,000 with AIB, that I have been paying for a year, and I have a lot of equity in the house. Any ideas?
 
re.wedding finance

Hi Patrick,

You could top up the mortgage and pay it off ASAP.
It's still a loan though. A 10 year loan paid off over a year or so would not cost much more and you wouldn't have to tell porkies to the bank.
 
Re: re.wedding finance

The cheapest way is probably to extend your mortgage as long as the legal costs are not too high. I see no problem in paying off a loan for your wedding over 20 years. You will probably have your wife longer than you will have the house.

Brendan
 
Re: re.wedding finance

On a lighter note,

stick it on the mortgage,

if the wife ever throws you out and keeps the house

then she gets the cost of the wedding

Your not out of pocket
 
Been thinking about this myself.

How about getting a new credit card with 6 months interest free on purchases and taking the €40 stamp duty hit.

You should get a bit of cash in wedding gifts and then after 6 months take out a smaller loan to pay off any outstanding debt.

Shug02
 
How about saving up the money in advance? If a couple have to borrow the whole cost of their wedding, then I would argue that they can't afford that sort of wedding. The essentials of a wedding cost very little. The rest is just window dressing.
 
Explain that to a demented bride to be - the most important day of her life is mainly window dressing!
 
Credit union loan

What above the above? The Irish Financial Services Regulatory Authority do a guide on personal loans and credit that details the pros and cons of different type of loans .. see link below
www.itsyourmoney.ie
 
Bear in mind that some people have reservations about the transparency of CU credit costs...



and that Brendan had specific reservations about what IFSRA's guide had to say on this matter...
 
I'm not totally against the most important day of her life thing at all. I think the "importance" of the day is not enhanced by spending a fortune on it. Equally I wouldn't accept that it is dimished by spending less. If you have the money and you want to do it, off you go. I just don't think a day you go into 10k of debt to have a party is the most important day of your life except for a lot of bad reasons!
 
Careful temptedd,

we AAMers have been accused of being skinflints for suggesting things like this in the past.

;)

BTW I agree with you.

-Rd
 
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