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Venue deposit

ExpensiveIvoryDecor809, 11 September, 2017 at 01:39 Posted on Planning 0 2

I've fallen in love with a wedding venue where we would be for the ceremony, wedding breakfast and reception.

It's quite a grand venue and the overall cost comes to just over £10,000. We don't have a problem with this and have seen other venues for around the same price; however the one we've fallen in love with are asking for a £4000 deposit for our wedding which won't be until 2020.

After the deposit, they then want £2000 payments every 6 months - meaning the venue would be paid for way in advance of the wedding.

all of the other venues we've viewed want around £1000-£1500deposit which seems more reasonable.

We're now in a position of do we pay the deposit and let the money sit in their bank for 3 years, or do we pick another venue which we don't like as much in order for us to pay less deposit.

Has anybody else been asked for such a high deposit? Or does it sound unreasonable?

We were literally ready to book, but it just sounds ridiculous when we could spread the cost out more and be getting interest on the other money rather than the venue sitting on it for so long. X

2 replies

Latest activity by Chris Giles Photography, 11 September, 2017 at 12:48
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    Beginner May 2018
    HappyBrownConfetti849 ·
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    Well my venue cost was £2000 and the deposit was £300.

    The only problem with paying that much up front, is that wedding insurance is only available two years prior to your wedding date.

    Try negotiating, say as it's so far in advance can you not pay a smaller "save the date" deposit now and the balance of the full deposit next year when you have your insurance?

    It depends on how important the venue actually is to you as to what you do. If you must have that venue, they have you over a barrel

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    ExpensiveIvoryDecor809 ·
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    Thank you for your reply.

    I know we need wedding insurance, but haven't looked at the actual terms of it yet I.e. How far in advance we can get it so that's a really interesting point.

    We've made a list of others to go and view as I said it's just the overall paying more for something that we want less.

    I think I'll try to present the whole wedding insurance situation to them in support of our argument, because if anything did happen to the venue without the insurance we'd have more hassle trying to get the money back. x

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  • Chris Giles Photography
    Chris Giles Photography ·
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    10k for a venue for 2020 is a good deal. But I would say to them that because you can't get insurance for your payment until 2 years prior only want to put a hold payment down.

    It's reasonable to ask this. A lot of people don't book so far in advance so it's likely an unusual situation for them (unusual but not unheard of and the person you're dealing with is likely treating it as any nomal booking).

    That far in advance make sure you keep everything in writing too in case they change their terms in the time between now and them. Wedding co-ordinators come and go. The promises / word of mouth can get lost as a result causing frustrations for you.

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