There are many reasons why you might have a bad credit rating but, in the majority of cases this means:
You have been turned down for credit by your bank or building society
Your existing credit is in arrears or you have missed repayments on your loans or mortgag
An Ocean Bad Credit Loan Could Help If
You have an adverse or a bad credit history
You have current or past mortgage arrears
You have had County Court Judgements (CCJ’s) registered against you
You are behind with the repayments on your other credit (Debt Consolidation)
What is a Credit Rating?
When you take out credit from a bank or other financial institution they will keep a record of how your account with them is conducted with a credit reference agency. This information forms your credit file and, if you miss payments or you get into arrears this will be recorded.
Most financial institutions will look at your credit file before granting further finance; if your file shows that you have not kept up with your repayments or your credit is in arrears they may refuse to lend to you.
The more payments you miss or the further your credit falls into arrears the lower your credit rating will become and the more difficult you will find it to obtain credit.
At Ocean Finance we understand that not everyone has a perfect credit rating and we specialise in helping people in just these types of circumstances with our large range of bad credit loans.
OUR TYPICAL, VARIABLE RATE IS 17.9% APR. RATES RANGE FROM 11.9% 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.
Homeowner Loans Secured On Your Home
With an any-purpose UK homeowner loan from Ocean Finance, you can pay off all your existing credit cards, overdrafts and unsecured loans and replace them with just one manageable monthly repayment. Alternatively you could splash out on a dream holiday, a new car or improvements for your home. Please bear in mind by consolidating debts with a homeowner loan, could increase the amount of interest you pay overall.
“Ocean Finance®”, “Ocean Mortgages®”, “Ocean TV®”,“Ocean Finance TV®”, Ocean Money® and Ocean® are registered trademarks of Ocean Finance and Mortgages Limited. The use of these marks is strictly restricted to our approved suppliers only. Any infringement of this will be vigorously pursued. ‘Ocean Finance’ and ‘Ocean Mortgages’ are trading styles of Ocean Finance and Mortgages Limited. Company Registration Number 4892540.
We are authorised and regulated by the Financial Services Authority for the provision of mortgage advice and arranging insurance. We are a licensed credit broker under the Consumer Credit Act 1974
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