Find homeowner and personal loans with Ocean. We use a panel of lenders to find a loan for almost any purpose. We may even be able to help if you've got bad credit.
Our loans
Personal loans
- Instant online decision
- All credit histories welcome
- No upfront fees
Secured loans
- Check if you'll be accepted before you apply
- Getting a quote won’t affect your credit score
- We compare 100s of loans with competitive rates
Debt Consolidation Loans
Replace some or all of your existing monthly outgoings on debt with a single monthly repayment.
Bad Credit Loans
If you have a poor credit score, we could still be able to help you find a loan that suits your personal circumstances.
Homeowner loans are secured against your property. This means your home may be at risk if you fall behind with your payments. We are a broker and we arrange secured loans from a panel of lenders. We receive commission upon completion. Fees may be payable depending on your choice of financial product. The rate you're offered and the fees will depend on your circumstances and will be discussed prior to you proceeding with your loan. 11.0% APRC Representative.
Personal loans are unsecured. Ocean Finance is a trading style of Intelligent Lending Limited. We are a credit broker working with a panel of lenders to find you a personal loan. We receive commission upon completion. A Broker Fee is not payable. 59.9% APR Representative (fixed).
What is a loan?
A loan is a sum of money you borrow from a lender. Different types of loans are available for different needs and personal circumstances.
Depending on the type of loan (e.g., secured loan or person loan) you choose, your monthly repayments will be based on factors such as the interest rate applied, how much you borrow, and for how long.
How to get a loan online
The process of getting a loan online will vary slightly from lender to lender, but with us it’s super straightforward and looks like this:
- Click 'Get a quote' and select a loan type at the top of the page
- Complete our quick and easy form
- We’ll find the best rate you're eligible for from our panel of lenders - without affecting your credit score
What can a loan be used for?
Across the market, there are a wide range of loans available, each designed to meet different borrowing needs. Below are just some of the more common uses for them.
Buying a car
Car finance can make it possible for someone to purchase a car they may otherwise not be able to afford. Different finance options are available to suit varying circumstances.
Debt consolidation
Use a loan to pay off all or some of your existing debts and then manage one single monthly payment instead. Remember that consolidating debt may mean extending the term of your borrowing and paying more interest overall.
Home renovations
You can use a home improvement loan to pay for renovating your property – you might even increase your home’s value in the process
Other large purchases
Loans can be used for multiple purposes, including large or unexpected purchases. It’s important to remember that any agreed payments need to be maintained throughout the course of the loan.
Buying a car
Car finance can make it possible for someone to purchase a car they may otherwise not be able to afford. Different finance options are available to suit varying circumstances.
Debt consolidation
Use a loan to pay off all or some of your existing debts and then manage one single monthly payment instead. Remember that consolidating debt may mean extending the term of your borrowing and paying more interest overall.
Home renovations
You can use a home improvement loan to pay for renovating your property – you might even increase your home’s value in the process
Other large purchases
Loans can be used for multiple purposes, including large or unexpected purchases. It’s important to remember that any agreed payments need to be maintained throughout the course of the loan.
Homeowner loans are secured against your property. This means your home may be at risk if you fall behind with your secured loan or mortgage repayments.
Remember, if you consolidate your existing borrowing, you may be extending the term and increasing the amount you repay in total.
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What are the differences between homeowner loans and personal loans?
Homeowner loans
- Your home is used as collateral
- Potentially lower interest rates
- Spread repayments over a longer period of up to 30 years
- More likely to be accepted, as using home for collateral
Personal loans
- No collateral required
- Wider range of interest rates
- Shorter payment periods typically between 12 months and 5 years
- Faster application process
Read our guide to learn more about the differences between homeowner loans and personal loans.
Need help with debt?
Life can take an unexpected twist when we least expect it. If you're struggling with debt, talk to your lender straight away to see if there’s anything they can do to help. For more information and free, impartial advice, get in touch with:
How could we help you?
Ocean has provided access to loans, credit cards and mortgages to people across the UK since 1991. In this time, we’ve pre-approved more than a million people, offering products and advice to suit their circumstances.
- All credit histories considered
- Check your eligibility without affecting your credit score
- Save time finding the right loan deal
You can learn more about Ocean on our about us page.
Got Questions?
APR (annual percentage rate) represents the total cost of borrowing to the customer over a year. It’s shown as a percentage and includes all interest and charges, for ease of comparison.
APRC (annual percentage rate of charge) represents the total cost of a secured loan or mortgage to the customer, shown as an annual percentage of the total loan amount. It includes all interest rates and charges applied over the full loan term, making it useful for comparison.
What rate will I get?
The rate you’re offered will vary depending on a few factors, including:
- lender
- loan type, term and amount
- your individual circumstances
- your credit history
Typically, the better your credit history is, the more likely you’ll be offered a lower APR or APRC.
Here at Ocean, our representative APR is 59.9% for unsecured loans and 11.0% APRC for secured loans. This means 51% or more of customers receive this rate or better.
Yes, you may be able to get a loan with bad credit, as each lender uses their own criteria. Some lenders specialise in lending to those with a less-than-perfect credit history, but they may charge higher interest rates. Here at Ocean, we have access to a wide panel of trusted lenders, meaning we can help you find a loan whatever your credit score.
Loan to value (LTV) is the percentage of what you owe on your mortgage (and any secured loans) in relation to the current value of your property.
How it's calculated:
(Total Borrowing Against Property ÷ Current Property Value) x 100 = % LTV
Example:
Total Borrowing Against Property = £150,000
Current Property Value = £200,000
£150,000 ÷ £200,000 = 0.75
0.75 x 100 = 75% LTV
Lenders use LTV (among other things) to assess eligibility, rates and lending limits when reviewing mortgage and secured loan applications. Each lender sets their own limits — some of the lenders we work with offer products up to 100% LTV. Lower LTVs tend to attract the best lending options for borrowers.
Yes, loans are as safe as any other form of borrowing so long as you:
- Use a reputable lender
- Make your repayments on time and in full. Failure to do so could damage your credit score, and in the case of a secured loan, put your home at risk.
A loan could be the right way to borrow money if you:
- Want to consolidate multiple debts into one monthly repayment
- Want to borrow money against your property (with a secured loan)
- Need a lump sum for something of high value (i.e. a car, wedding, or extension)
- Like the stability of one fixed monthly sum.
But of course there are other ways to borrow, and they might be more suitable for your needs if you:
- Only need to borrow a small amount of money over a short period of time
- Want to vary your monthly repayments
- Aren’t sure if your circumstances might change in the near future.
If this sounds more like your current situation, a credit card might be a better fit for your borrowing needs.
If your financial situation changes for the better and you wish to pay more than your monthly repayment to pay off the loan early, you should be able to do so; but early repayment charges may apply in some cases.
To check your eligibility for a loan, click 'Get a quote' and then select the type of loan you're interested in at the top of the page. This will take you to our quick and easy form. Getting a quote won't affect your credit score.
A repayment holiday is a period agreed with your lender to put your loan payments on hold temporarily. This may help in the short term if you need to free up more income for other expenses.
If you are struggling to meet your loan repayments, you can ask your loan provider to freeze interest. This should make your loan more affordable and help you to get out of debt quicker. You may need to provide your incomings and outgoings to show you are in financial difficulty.
At Ocean, depending on the type of loan applied for, you may be able to take a loan out for up to 30 years.
A soft search is an enquiry on your credit report, typically carried out by a prospective lender or broker. It shows some of your basic information to help confirm your identity and give the lender an overview of your financial situation. Importantly, soft searches do not affect your credit score and are only visible to you.
Missing loan repayments can lead to defaults and CCJs being applied to your credit record for up to six years. This can make it harder to get credit in the future.
If your property is used as collateral for a secured loan and you miss repayments, this could result in you losing your home.
It’s important to only borrow what you can afford to repay, and if you do find yourself beginning to struggle, speak to your lender before the situation gets worse.
Debt consolidation involves moving some or all of your debt into one place to make it easier to manage, and possibly more cost-effective. This could result in one loan amount, with one monthly payment, one interest rate, and one lender; although it’s important to remember you may end up paying more interest overall.
Yes, but you could find it more difficult to be accepted as lenders may be wary of your ability to pay back the loan if they view your income as unstable.
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