A third of couples planning to marry in 2027 or beyond plan to use loans to finance their wedding, according to research by Pepper Money.
This figure has risen from 23% in 2019.
The findings showed a growing financial strain on engaged couples, with only 28% relying on their monthly income for wedding expenses, down from 38% among those married between 2019 and 2024.
Additionally, reliance on inheritance and family gifts decreased by 12%, while 8% considered remortgaging to finance their dream wedding, with 13% taking on a second job.
Over a fifth of married couples (21%) regretted their wedding spending, and just 7% spent less than they originally intended.
Ryan McGrath, director of second charge mortgages at Pepper Money, said: “The shift away from traditional funding sources like family gifts and monthly income suggests a new reality for wedding finances.
“With wages lagging behind inflation, couples are finding it harder to save for weddings through traditional means.
McGrath added: “As daily expenses eat into potential savings, loans are becoming a more attractive, and necessary option for covering large, one-time costs like weddings.
“The increase in couples planning to use loans for future weddings indicates a growing need for flexible financing options.”
The study also indicated that use of personal loans and credit cards is increasing, with 25% and 21% of couples planning to use these methods, respectively, up from 16% and 14% in the past five years.
McGrath added that careful financial planning is crucial to avoid long-term strain.
With 62% of couples owning property by the time they marry, homeowner loans offer an alternative option.
These loans allow homeowners to access their property’s equity without affecting existing mortgage rates.
McGrath said: “With more couples considering remortgaging, these homeowners should consider leveraging home equity for major expenses like weddings.
“Couples that own their home and are on the cusp of marriage should consider homeowner loans as a debt consolidation solution.
“Homeowner loans are a possible alternative to remortgaging that can provide greater flexibility to spread the cost, especially if couples have a fixed rate in place on their current mortgage.”
McGrath added: “With the financial landscape constantly evolving, it’s more important than ever for couples to plan their wedding expenses carefully.
“By exploring options like homeowner loans, couples can manage their finances more effectively and avoid unnecessary stress.
He said: “Speaking to a mortgage broker can help couples find the best financial solutions tailored to their unique needs, ensuring they can enjoy their special day and look forward to a happily ever after without compromising their financial future.”
