There is an increasing number of Brits taking out personal loans as a bid to pay for their wedding during the financial crisis.

According to research by Sainsbury’s Finance, £113 million worth of loans were taken out in the first four months of 2009 to cover the cost of weddings.

The figures revealed an increase of 43 per cent compared to the same period in 2008.

Steven Baillie, head of loans at Sainsbury’s, said: "If you decide that a loan is the best way to pay for [a] wedding, make sure you shop around to get the best rate and payment term for you, it could save you a considerable amount in repayments."

Furthermore, according to insurance provider LV=, more couples are looking to tie the knot abroad as an attempt to reduce wedding costs.

The research also found that nearly 25 per cent of Brits who will be attending a wedding this year believe they will not be able to spend as much on gifts as they would have before the crunch.

Managing director of LV= home and travel insurance, John O’Roarke, said: "Weddings are clearly an expensive affair - but not just for the bride and groom. Despite the recession this research shows that the average couple will spend over £300 per wedding they attend.”