Six out of ten Britons believe in love at first sight, and a third would pop ‘the question’ within six months if they knew they had met ‘the one’, reveals new research from Alliance & Leicester Personal Loans.

The survey found that almost one million Britons (2%) would immediately propose if they thought they had met Mr or Miss Right, and an additional 13% would do so in less than three months.

And when it comes to actually tying the knot, the average Briton thinks that 12 months is the appropriate time from getting engaged to holding the big day, while nearly a quarter (23%) would wait nine months at the very most.

Yet our impulsive attitude doesn’t stop here. Britons are set to spend £23 billion this year tying the knot, as the cost of a typical wedding now rings in at more than £17,000 - up 13% from £15,000 last year. Worryingly, many soon to be newlyweds are underestimating the potential cost of their big day by a staggering 155%, as they believe their wedding will cost just £6,650 on average.

In fact, money worries are one of the biggest reasons that over half of Britons (56%) think that the appropriate time between engagement and the big day should be longer than nine months. Half (49%) say that people need several months in order to save, and a fifth (22%) think people should meet other financial commitments first.

Gone are the days when the bride’s family footed the bill. Almost eight out of ten of those who are planning their wedding will pay for the day themselves, but almost one in five (17%) will borrow to fund the big day.

Alliance & Leicester advise potential love-struck couples that if they plan to borrow money to pay for their big day they should avoid being as impulsive with their finances as they are with choosing their soul-mate. Couples should look around to make sure they get a good deal from the finance they choose as this could save £100’s maybe £1000’s depending on what they borrow and who they choose. See example below.

Claire Alvey, personal loans manager for Alliance & Leicester, said: "It is encouraging to see that many of us are still old romantics who believe in love at first sight. But as the cost of a modern wedding continues to rise, it is understandable that romance can take a back seat while we try to save towards the cost of the wedding."

"Making the wrong decision on a loan means you could overpay on interest by £850. But if you make the wrong decision on the relationship it could cost you even more when you separate, an average of £13,500."

Other reasons why couples prefer to wait longer than nine months from engagement to holding the big day include:

• Seven out of ten (70%) need time to make sure they have done the right thing.
• One in three (36%) think they need the time to prepare and properly organise the perfect wedding.
• A fifth (21%) think they need to give their friends and family plenty of time so that they can clear their diaries.

Claire Alvey continued: "Weddings need very careful planning.   By looking around to get the best value from your borrowing - like you would for the wedding flowers or the photographer – you can make huge savings."

"If you are going to borrow money to pay towards the big day, make sure you take the time to get a good deal. By choosing a low-rate loan, you could save yourself almost £850, otherwise you could be making unnecessary overpayments on higher interest rates. You might as well tear up the cash and use it as confetti."

Carol Richardson from Confetti.co.uk explained: "The key to a successful wedding ceremony is planning, planning and then more planning. Shop around, talk to all your suppliers and get a realistic idea of costs for every aspect of your day - from the flowers to the cake and the photographer."

"If you think you will need to borrow money to pay for the day, then don't forget to shop around for credit too and make sure you get the best deal as you would for any other element of your wedding."

Research found that the average cost of a wedding today is £17,000 and 9% of people are engaged or are set to get engaged this year (2,784,600 people or 1,392300 couples).  This collectively equates to £23,669,100,000.

 The table below shows the typical saving which can be made with an Alliance & Leicester personal loan, based on the total repayments on a £7,500 loan repaid over 5 years: