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Ocean Finance® is a registered trademark of Ocean Finance and Mortgages Limited and is a licensed credit broker. Consumer Credit License Number 550081.
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Adverse Credit
If you have fallen behind with payments on your mortgage, loans or credit cards then the credit provider will probably have recorded this. A search of your credit record by any new finance company to determine your credit rating will usually reveal any such missed payments which is generally know as adverse credit. This may be the reason why you have been turned down for credit elsewhere.
Don’t worry if you have either a past or current record of adverse credit. At Ocean Finance we have a huge range of loans including a large amount of bad credit loan plans as we specialise in helping people in just these types of circumstances.
See also: Bad Credit, Poor Credit
Adverse Credit Loan
A loan specifically provided to someone who may have adverse or bad credit history and may therefore have difficulty in obtaining finance.
Ocean Finance have a huge range of adverse or bad credit loan plans so, whatever your circumstances, we are often able to help.
See also: Bad Credit Loan, Poor Credit Loans
Any Purpose Loans
Whereas some finance companies will only lend you money for specific purposes the range of loans offered by Ocean Finance can generally be used for almost any purpose. So with us you could use your loan to fund home improvements, purchase a new car or simply for debt consolidation.
See also: Personal Loans, Home Improvemen Loan, Secured Loans, Debt Consolidation Loan
APR
The APR is the Annual Percentage Rate of charge and is an indication of the amount of interest you will pay over the term of your loan. The APR reflects the true cost of borrowing as this will include all of the interest along with any other charges.
If you want to compare the cost of a loan from Ocean Finance with the cost of a loan from elsewhere then the APR figure is the one to use. The rate of APR on a loan agrreement is dependent on individial circumstanstance if you suffer from an adverse or bad credit history your APR will be greater than someone with a clean credit history who may be elligable for a cheap low rate loan.
See also: Low Rate Loan
Arrears
If you have missed payments on your mortgage, loans or credit cards then the credit provider will describe these as arrears.
Don’t worry if your credit is currently or has been in arrears in the past. With our extensive range of loans Ocean Finance specialise in helping people in just these situations with our large range of bad credit loan plans.
See also: Mortgage Arrears
Bad Credit
Another term used to describe adverse credit or arrears. If you’ve missed payments on your mortgage, credit card or loans then the lender will consider this to be bad credit.
Even with bad credit Ocean Finance can help you to arrange a loan.
See also: Adverse Credit, Poor Credit
Bad Credit History
If you have been in arrears with your mortgage, loans or credit cards then the lenders will generally record this and, if you have a bad credit history some companies will not provide you with further finance.
At Ocean Finance we look at things differently and, even if you have a bad credit history, we are normally able to help with a our range of bad credit loans we have loan plans to suit most circumstances.
Bad Credit Loan
A loan for a customer with a bad credit history.
Ocean Finance have a huge range of bad credit loan plans from our extensive panel of lenders which can help in all sorts of circumstances.
See also: Adverse Credit Loan , Poor Credit Loans
Bad Credit Rating
If you have missed payments on loans or credit cards or if you have experienced mortgage arrears or missed payments on other finance agreements such as personal loans , secured loans or credit cards the companies who provided the finance will probably keep a record of this. This information will be held on your credit file by a credit reference agency.
If payments on your credit have been missed this may result in you having a bad credit rating and you may find it difficult to arrange credit elsewhere. Ocean Finance specialise in helping people with an adverse or bad credit rating and have a large range of loans for people in this type of situation so, even if you’ve been turned down elsewhere, we are often able to help.
See also: Adverse Credit, Bad Credit , Poor Credit,
Cheap Loan
Ocean have a wide range of loans which suit most circumstances. Depending on your credit history and credit rating our lenders can offer excellent cheap low rate loan plans which may be lower than you have perhaps been offered elsewhere. Unlike credit cards where everyone has to pay the same rate our loan offers are based on your individual circumstances.
See also: Low Rate Loan
Consolidation Loan
This is a loan which is used to pay off other debts. If you are struggling to pay numerous credit cards and other loans you may want to pay these off by combining all of them into one large loan; a consolidation loan. Often you can reduce your monthly outgoings by doing this and end up with one simple affordable monthly payments.
Ocean Finance have an enviable reputation for arranging just this type of loan and have thousands of satisfied customers who have benefited from our help.
See also: Debt Consolidation Loan
County Court Judgments (CCJ)
If you have failed to keep up payments on your credit the lender may have taken you to court. The court will normally issue an order saying you must repay the debt; this is called a County Court Judgement (commonly referred to as a ‘CCJ’).
A record of the CCJ will normally be put on your credit file and this may mean you will end up with an adverse or poor credit rating.
Ocean Finance have an extensive range of loan plans that cater for people with a bad credit history that are available even if you have CCJ’s registered against you.
See also: Adverse Credit, Bad Credit , Poor Credit,
Credit Rating
Companies who arrange finance will normally record details of payments they receive from you with a credit reference agency and all of this information will be held together to form your credit file. If you miss payments and your account falls into arrears this will be shown on your credit file.
If you keep your credit repayments up to date this will help improve your credit rating and, the better your credit rating, the easier you will find it to arrange credit in the future, you will also normally reciever a lower rate on any future loan agrrements.
Don’t worry if you have a bad credit rating; Ocean Finance specialise in helping people in this type of situation with our large range of bad credit loans.
See also: Adverse Credit, Bad Credit , Bad Credit History, Poor Credit,
Debt Consolidation
Debt Consolidation is a way to bring all your existing payment into one monthly payment two ways of doing this is a remortgage or a debt consolidation loan. Debt consolidation could help you manage your monthly payments and can be used to reduce your monthly outgoings.
See also: Debt Consolidation Loan
Debt Consolidation Loan
A debt consolidation loan is finance arranged with the specific intention of paying off other credit and combining all of your existing loan and credit card payments into one affordable monthly repayment.
Ocean Finance have a number of lenders who specialise in providing debt consolidation loan plans .
See also: Debt Consolidation
Equity Release
If you have equity in your property (ie; the amount you owe on your mortgage is less than your property’s value) then you may want to release this equity in the form of a loan.
Ocean Finance specialise in arranging this type of loan which can be used for almost any purpose – be that home improvements, debt consolidation or to purchase a newer car or even go on a dream holiday.
See also: Release Equity
Fast Loans
Ocean Finance pride ourselves on our speed of service. If you need a loan fast all you need to do is complete our simple online loans application form and one of our experienced underwriters will contact you to arrange the finance for you. Alternatively you can apply over the telephone by calling us on 0800 916 9186.
See also: Online Loans, Quick Loans
Finance Broker
A finance broker specialises in arranging loans which are usually funded by lenders whose products are not normally available direct to the public; this allows the lenders and brokers more flexibility in their approach to lending.
As finance brokers Ocean Finance will find the most appropriate loan plan for you and process your application with the minimum of fuss leaving you with the simple task of deciding how to spend the money.
Finance Loan
Ocean Finance has a large range of finance loans available to suit most circumstances. An Ocean finance loan can be used for almost any purpose.
Flexible Loans
Ocean Finance have access to numerous lenders who offer a huge selection of different loans. This allows us to be very flexible and offer you a loan which really matches your requirements. Some of our flexible loans offer a payment break at the start of the loan aggreement. Our Loans also have an option of Payment protection Insuranse (PPI) should you find yourself involuntarily unemployed or off work due to an accident or ill health, payment protection insurance can help ensure that your loan repayments are one less thing to worry about.
Home Improvement Loan
Ocean Finance can offer loans for almost any purpose including home improvements, to buy a newer car, pay for a dream holiday or simply for debt consolidation.
See also: Any Purpose Loans
Home Loan
As the loans offered by Ocean Finance are secured on your property (in the same way as your mortgage) you will need to be a home owner to take out a loan with us. The benefits of taking out a home owner (or secured) loan are that often the APR will be lower than that of a comparable unsecured loan, the amounts available to you are generally higher and the term over which the loan can be repaid can be much longer thus reducing the monthly repayments..
Home Owner Loans
As the loans offered by Ocean Finance are secured on your property (in the same way as your mortgage) you will need to be a home owner to take out a loan with us. The benefits of taking out a home owner loan (or secured) loan are that often the APR will be lower than that of a comparable unsecured loan, the amounts available to you are generally higher and the term over which the loan can be repaid can be much longer thus reducing the monthly repayments..
Home Equity Loan
Ocean Finance can help you use the equity you have built up in your home by arranging a home equity loan which can be used for almost any purpose.
See also: Release Equity
Loan Provider
Ocean Finance are a finance broker; our job is to find you a loan from our panel of lenders which matches your unique circumstances.
We have a large number of loan providers from high street banks to finance houses who specialise in providing home owner or secured loans and whose products are not generally available to the public.
For added peace of mind both ourselves and most of our lenders are members of the Finance Industry Standards Association (FISA) the body set up specifically to promote and enforce standards in the finance industry.
See also: Finance Broker
Loan Quote
When you apply to Ocean, we will obtain a free, no obligation, offer of finance. The loan quote will take into account your personal circumstances.
Low Rate Loan
Ocean has a wide range of loans to suit most circumstances including cheap loans with low rate of interest. Ocean will compare numerous loan plans from our large panel of lenders enabling us to offer you the cheapest loan. All loans are subject to status and your individual circumstances.
See also: Cheap Loan
Mortgage Arrears
If you miss payments on your mortgage or fail to make a payment when it is due your mortgage lender may record this information on your credit file. A number of missed mortgage payments can result in a bad credit history
See also: Adverse Credit, Arrears, Bad Credit
Online Loans
You are able to apply to Ocean Loans online using our easy online loans application form. Our secure system allows you to input your details, allowing an experienced underwriter to respond to your application fast. We can usually provide you with a no obligation offer of finance within 48 hours of receiving your application.
See also: Fast Loans , Quick Loans
Personal Loans
A personal loan is an agreement between a finance company or lender and an individual wherein the lender agrees to provide you with a cash amount and where you agree to repay that amount plus interest over a set period of time. Personal loans may be secured in which case the lender will use something as security just in case you fail to repay the debt. In most cases the security used will be property. Ocean specialise in arranging secured personal loans which are secured against property.
See also: Any Purpose Loans
Poor Credit
Poor credit usually means you have missed a number of payments on your existing credit commitments. You may have a county court judgement (CCJ's) or mortgage arrears. Ocean have a large range of bad credit loan plans catering for these circumstances.
See also: Adverse Credit , Bad Credit
Poor Credit Rating
A credit rating is an evaluation of the likelihood of a borrower to default on a loan. Your credit rating is used to decide whether or not to agree a loan or extend credit. If you have been turned down by another lender, Ocean have loan plans to suit most circumstances even if you have a bad credit history, county court judgements (CCJ's) or mortgage arrears
See also: Bad Credit Rating , Adverse Credit Rating
Poor Credit Loan
A poor credit loan is a term used to describe a loan given to an individual with a poor credit rating. It can also be referred to as an bad credit loan. Ocean Finance can help you even if you have a poor credit rating.
See also: Adverse Credit Loan , Bad Credit Loan
Quick Loans
Ocean’s online loans application form is quick and easy to complete and enables one of our underwriters to respond to your application promptly, usually with an offer of a finance loan. Your underwriter will deal with your initial queries and ensure your loan is processed a fast as possible with a minimum of delays.
See also: Fast Loans , Online Loans
Release Equity
Equity is the difference between what your house is worth and the debt secured against it. Secured loans allow you to borrow against this difference and release this equity. Secured loans arranged by Ocean Finance can be used for debt consolidation, home improvements or almost any other purpose.
See also: Equity Release , Home Equity Loan
Secured Loan
A secured loan is a loan where the lender will use an asset as security for the loan amount. If you fail to repay the loan the lender can take possession of the asset to service the debt. Normally the security will be property. Ocean Finance has a large range of secured loans that can be used for nearly any purpose..
See also: Any Purpose Loans
OUR TYPICAL, VARIABLE RATE IS 14.9% APR. RATES RANGE FROM 9.2% 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.
"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 counselling, credit reference agency and canvassing off trade premises.
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