 Ocean Finance® is a registered trademark of Ocean Finance and Mortgages Limited and is a licensed credit broker. Consumer Credit License Number 550081. |
Loan Questions & Answers
If you have any other questions please call free on 0800 916 9186 or use our enquiry form. How much can I borrow?This will depend upon your income and the amount of equity within your property. Some plans enable you to borrow up to 125% of your property value. Loan amounts are available from £3,000 to £100,000. Subject to these factors we can arrange a loan from a minimum of £3,000 to a maximum of £100,000. What if I suffer from bad credit or I already have defaults, CCJ's or mortgage arrears?We have many lenders on our panel offering a diverse range of loan plans to suit most circumstances. This enables us to arrange finance for people who suffer from a range of credit problems. An Ocean bad credit loan can be used for almost any purpose including debt consolidation. Over what period of time can I spread my loan?This is usually entirely up to you, the Loan Calculator may help you decide. Generally loans are available over three to twenty-five years. Are fixed interest rates available?On the majority of our loans we are able to offer interest rates fixed for up to five years (where the loan term is 60 months or longer). Rates of interest that are fixed for the whole loan term are also available. Can you offer a scheme whereby my repayments can be made if I am ill or made redundant?Yes, we offer an optional accident, sickness and redundancy package for your peace of mind. The Payment Protection section provides details of this valuable cover. What APR will I be charged?This will depend on your credit status, employment history, available equity and other related factors.
Our typical variable rate is 12.7% APR. How do I apply for a loan ?There are numerous way to apply for a loan from Ocean Finance. You can use Ocean's easy to use Online Loans application form, you could call free 0800916 9186 or you could request a loans information pack and complete the application form provided Is the application confidential?Absolutely. Your loan application is treated in the strictest confidence. We will not contact your employers, bank or any other third party without your prior permission. Are any restrictions placed on how I can spend the money?No, you can usually utilise the money for almost any purpose. Perhaps you want to consolidate your existing debts and pay off all your higher rate credit leaving you with just one manageable monthly payment. Alternatively you may wish to carry out home improvements, purchase a car, caravan, boat, conservatory or perhaps take a holiday! Wherever possible the money is yours to spend as you wish. What if I want to settle the loan early?Loans of up to £25,000 are governed by the Consumer Credit Act and a rebate will be given in accordance with the Consumer Credit (Early Settlement) Regulations 2004. The calculation varies between lenders for loans in excess of £25,000. Your dedicated Underwriter will be happy to discuss early settlement with you once a lender has been selected. How many plans does Ocean Finance have available ?Ocean Finance has 100's of plans from a large selection of lenders we have plans to suit most circumstances whether it be one of our cheap loans or a specialised bad credit loan if you have an adverse credit rating. What if I want to move house?Simply pay the outstanding loan balance from the proceeds of the sale or alternatively we may be able to transfer the loan to your new property. What if I want to borrow more in the future?Simply telephone our office and we will gladly supply you with a quotation for a further advance. How long will the loan take to arrange?The whole process usually takes two to four weeks dependent upon a number of factors including how fast you can supply us with the documentation required to complete your loan. Will you charge me a fee?Upon completion of your loan we apply a fee of up to 5% (maximum). No loan - No fee is payable. What if my circumstances change - or if I have other questions?As a customer of Ocean Finance, you are never left without good advice. You can speak to our trained staff who draw on extensive experience of helping homeowners like yourself. So you may rely on prompt and sensitive help. Is it safe to apply using our online loans application system and will the personal details I provide be secure?Ocean's online loans system is extremely safe, our web site employs the latest 128 bit encryption technology, therefore your details cannot be viewed by any unauthorised third party. Ocean's online loans system is completely secure applying online is a fast and easy way to submit your loan application form.
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OUR TYPICAL, VARIABLE RATE IS 15.9% APR. RATES RANGE FROM 9.4% to 29.9% APR
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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"Ocean Finance®" is the registered trademark of Ocean Finance And Mortgages Limited. The use of this mark is restricted to our approved suppliers only, any infringement of this will be vigorously pursued.
We are licensed under the Consumer Credit Act 1974 to carry on the business of consumer credit, consumer brokerage, debt adjusting and debt counseling, credit reference agency and canvassing off trade premises.