Wedding Loans

Can you get a loan for a wedding?

Ozzie Loans provides personal loans that can be used for a wide range of activities. If you are therefore planning your wedding but are short on cash, go ahead and submit an application. You can use the amount you receive to pay for your wedding venue, foot your photographer’s bill and even pay for the catering services.

How can you get a loan for a wedding?

To get a loan for a wedding, you need first to find out if you are eligible for any loan. Ozzie Loans requires that you must have attained the age of 18 and be a permanent resident of Australia. You must also be earning a regular income.

If you are eligible, you can go ahead and download the Ozzie Loans app and install it on your device. Register accordingly and then submit a wedding loan application. The firm will carry out various background checks and then let you know how much money you qualify to receive. 

Once you accept the offer, money will be deposited into your account as soon as possible. Some individuals receive their money within an hour. Other cases may take 24 hours, depending on the bank that operates their account.

Things to consider when thinking of applying for a wedding loan

Here are some of the things you should keep in mind when looking to take out a wedding loan.

The numbers 

The first thing you should do is to crack the numbers. Find out how much money you need to facilitate your dream wedding. Some of the things you should think about include the cost of the wedding dress, the cost of the venue, the cost of logistics including communications and transport, cost of hiring a wedding photographer, and catering services. This information will enable you to come up with an approximate amount of money.

The duration of time 

The next thing you need to think about is how soon you wish to get the wedding loan. Some things require that you start making preparations early on. For example, you may need to get your wedding dress a week or two before the actual wedding day. You may also want to book a wedding venue a couple of weeks before your wedding day. Such issues can help you determine when you need to get the loan. Ozzie Loans often provides instant cash loans meaning you can use the money right when you need it.

Your credit report 

Before you submit a loan application, you might want to have a quick look at your credit report. A bad credit report has the potential of limiting your ability to receive money from lenders. However, you can do a couple of things to minimise the negative effects of a credit report. 

First off, start by paying any outstanding debts or credits. This will help improve your credit score almost immediately. You should also avoid opening too many credit accounts at the same time. Make sure you pay all your bills on time because that will also reflect in your credit report.

Stable income 

One of the things that any money lender takes seriously is the ability for a borrower to pay back the money given. The best way for you to prove you can pay back the wedding loan is by showing that you have a stable income. Sharing your bank statements with information containing the flow of money from your job or business is a great way for you to increase the chances of getting a wedding loan approval.

Accurate and factual information 

One of the reasons why money lenders reject loan applications is a detection of inaccuracy or false information. For example, if the money lender asks you if you have any other pending loans and you say you don't yet, you do. That already shows that you are not completely honest about your financial situation. Remember that you can still get loan approval even if you have other pending debts. In fact, consolidated debt loans are often given to people who wish to repay outstanding loans that are about to mature.

List reputable guarantors

When asked to provide the names and contact details of one or two guarantors, make sure to pick people who have a good reputation. Your guarantors should ideally have an outstanding credit score and should be willing to put in a good word for you in case the money lender decides to contact them and ask about you.

Borrow what you need

Instead of submitting an application for a huge amount of money, simply apply for the amount you need. This will allow you to utilise the cash for the intended purpose without necessarily getting you into another debt that may prove too hard to repay.

Make timely repayments 

In most cases, your money lender will allow you to make repayments either in a lump sum or in instalments. Make sure you make your payments on time because that is the best way to improve your overall credit rating. Making timely payments is also a sure way to increase your credit limits on Ozzie Loans.

In case of rejection 

Do not get discouraged just because your wedding loan application has been declined. Instead, find out why the application was rejected and rectify the problem. Once you have resolved the issue, you can always submit another application.

The takeaway 

Whether you are looking to get fast cash for your wedding or any other special event, seeking a loan from Ozzie Loans can be all it takes. The cash loans Australia comes with some of the most competitive rates to ensure that customers get timely assistance without dealing with burdensome repayments. What’s more, repayments are scheduled in such a way that they coincide with the time a client receives their income!