COUPLES are taking out crippling loans secured against their homes to pay for their weddings.
They are charged jaw-dropping interest rates to cover the cost of a bash and honeymoon which can now top £20,000.
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They risk losing their home if they fail to repay.
A £30,000 loan from Evolution Money over ten years at 20.98 per cent costs £633.03 a month — or £75,963.60 in total.
The Manchester firm offers up to £100,000, saying: “Getting married is one celebration you don’t want to compromise on.”
Our Squeeze Team’s Martyn James slammed “jaw-dropping rates”.
He said: “High interest lending didn’t die after the payday loan scandal.”
The firm did not comment.
