13 November 2012

New research from Barclays has revealed that Britons are giving up traditional large white weddings and instead are using the money to get on the property ladder.

The survey showed that 52% of respondents would like to spend their savings on a deposit for a property and 10% would rather spend them on a wedding than a house.

As the average cost of a wedding is currently around £20,000, Barclays found that around one in ten engaged couples decided to cut the cost of their wedding or delay it to enable them to save the money for a property deposit.

Head of mortgage products at Barclays, Laoiseach Lynch, noted on homemove.co.uk that: “With the average home deposit costing in the region of £16,000, it’s not surprising that couples are having to think twice about the way in which they tackle the dilemma of tying the knot and buying a property.”

@MovewithUs

Back to index