Ready to walk down the aisle?
Wedding season is in full swing and while love may be priceless, the big day certainly isn’t.
According to Hitched’s 2024 National Wedding Survey, the average UK wedding now costs a jaw-dropping £23,250, up 12% from last year. And honestly? That tracks. Between the venues, decor, food, outfits, entertainment, and photography, let alone the wedding planner, the costs can escalate quickly.
Whether you're planning your own wedding or helping to fund someone else's, figuring out how to pay for it all can feel… a bit overwhelming.
That’s where a Home Equity Line of Credit (HELOC) can come in. It gives you access to funds when you need them and it’s often a smarter alternative to high-interest credit cards or rigid personal loans.
But before we get into the how, let’s talk about the what. As in, what you’re actually paying for.
What are you really spending your money on?
Here’s where most couples see their budget go:
- Venue & catering: are usually the biggest cost. You’re paying for the space, the food, the drinks, the staff… all the good stuff that makes a party feel like a celebration.
- Photography & videography: priceless memories, yes, but also? Premium-priced professionals.
- Wedding attire: dresses, suits, shoes, and accessories. Sometimes for just the couple, (sometimes for the whole bridal party).
- Entertainment: bands, DJs, performers, or even that sax guy who plays alongside your playlist.
- Decor & flowers: bouquets, centrepieces, fairy lights, table runners… it all adds up fast.
- Wedding planner: can be worth their weight in gold when it comes to stress reduction and logistics, but their fees often run into the thousands.
- Travel & accommodation: particularly if you’ve got guests coming from abroad or you’re planning a destination “I do.”
- The extras: think hair and makeup, stationery, favours, thank-you gifts, and of course, the honeymoon.
Even with a rock-solid spreadsheet, there’s always something unexpected. A last-minute supplier price hike, a rainy day tent rental, or those candles you swore you didn’t need (but definitely do).
Can’t we just use a credit card?” (you can… but should you?)
Credit cards might seem like the obvious go-to but with interest rates soaring and most suppliers asking for bank transfers or deposits upfront, it’s not the most cost-effective route. Wedding loans? Also an option, but they usually come with rigid terms and higher monthly payments.
Enter: the HELOC
If you’re a homeowner, a Home Equity Line of Credit (HELOC) might be your financial secret weapon. It’s flexible, affordable, and actually designed for situations just like this; big, one-off life moments that come with lots of moving parts (and moving payment dates).
Okay, what is a HELOC exactly?
A HELOC lets homeowners open a line of credit against the equity built up in their property for up to five years. Think of it as a flexible credit facility secured by your home, giving you access to funds when you need them. And the best part? You only pay interest and make repayments on what you actually use.
Imagine this:
- You’re eligible for a credit line of £25,000 within 5 years.
- You use £5,000 for the venue deposit now.
- You draw another £3,000 next month for your dress, band, and flowers.
- And another £3,000 for a wedding planner to orchestrate everything.
- You only pay interest on the £11,000 you’ve used, not the full amount.
After the wedding, you still have credit left over for your honeymoon, starting a family and more, until your 5 year drawdown period is up.
Why use a HELOC to fund a wedding?
Besides the obvious “I’d like to avoid financial meltdown” reason, here’s why a HELOC can actually enhance the wedding planning process:
✅ Gives you breathing room: pay for things in stages as needed.
✅ Saves your savings: keep your emergency fund (and honeymoon fund) intact.
✅ Flexible drawdowns: you’re in control, not locked into a lump sum loan on day 1.
✅ Makes cash flow manageable: especially when every supplier wants a deposit.
And unlike a traditional loan, a HELOC simply provides more flexibility. If plans change (or costs go up…because they will), you’ve got a buffer ready.
Is this something people actually do?
Yes and we’ve seen it firsthand at Selina. Weddings are one of the reasons our customers take out a HELOC. It’s a major life milestone, and people want to do it properly without compromising their finances long-term.
So if you’ve got equity in your home and a wedding to plan, a HELOC could be the difference between “we almost got the band we wanted” and “our wedding was everything we dreamed of.”
Celebrate today, stay financially strong tomorrow
Weddings are magical. Expensive, stressful, and beautifully chaotic but magical all the same. And if you’re already dealing with guest lists, group chats, and menu tastings, your finances shouldn’t add more drama to the mix.
A Selina HELOC gives you the freedom to plan your big day your way with flexibility, control, and a little less panic.
Thinking about using a HELOC to fund your wedding?
We can help.
✍️ Get a quote here - it won’t affect your credit score
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
