Alex Jhon

I want to take a loan against property for my child's marriage. Is it possible?

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6 Answers

Barb Cala Profile
Barb Cala answered

You'd have to ask your bank or other loan provider.  We have no idea what type of loan you are eligible for.

Jann Nikka Profile
Jann Nikka answered

It's possible, IMO not a good idea, if the marriage fails (hopefully not), you might get angry about the loan. Considering you probably borrowed $10- $20,000 or more. Which you will be paying back for 10 or more years.  Most likely alone.

Danae Hitch Profile
Danae Hitch answered

Alex, the wedding can be elegant and simple without taking out a loan. IMO, the focus should be on the marriage, not the wedding. If you spend $25k on a wedding, there is no guarantee that it will last past the first anniversary.

So, see what money you do have for the wedding, tell your daughter how much you have available and go from there. There are many things that you guys can do yourselves to save money.

I would never, ever take out a loan to pay for a wedding. If you don't have the cash available, then work with the money you have.

Sheldon Cooper Profile
Sheldon Cooper answered

Yes

Ancient One Profile
Ancient One answered

I agree with "jan" taking out a loan for a marriage unfortunately can be a risky proposition.

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Didge Doo
Didge Doo commented
Dead right, Ancient. My grandson was married in November. The wedding was elaborate, and fiendishly expensive. They separated in July and the lady now has another man in her life.

I can't imagine how her parents feel after spending such a large amount of money on something that went down the gurgler without a fight.
Ancient One
Ancient One commented
It is a shame but it happens all too often now-a-days. I used to counsel young couples about to be married. I had to stop. Too many times I could see their marriage wasn't going to last by their responses to questions and how they treated each other. I even suggested a couple times the couple should wait a little longer before getting married. In each case the marriage lasted less than a year.
Jann Nikka
Jann Nikka commented
Yep
Baahir Baahir Profile
Baahir Baahir answered

Yes, many companies offer loan against property for a child's marriage. They also offer this loan expansion of business, foreign travel, personal requirements such as education, family function, medical expenses, furnishing of the house, buying high cost consumer durables and more.

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