More people are taking out loans to pay for their wedding in the UK. The number of homeowner loans taken out for weddings in January 2006 was 32% more than the number of homeowner loanstaken out for the same purpose in January last year.

Around 20% of young couples in the UK believe they will have to take out a loan to pay for their wedding.

Meanwhile, wedding costs are continuing their upward trend. The average wedding cost in the UK is £16,000. According to a survey conducted by Halifax Personal Loans, only 9% of the Britons believe that £16,000 is a reasonable amount to be spent in weddings. More than half of the respondents prefer spending £1,000 to £9,999.

20% of those who are in the age group of 18 and 25 believe they will spend more than £16,000. Only 8% of those who are in the age group of 35 and 44 believe their wedding expenses will exceed this amount.