Why search around for a great homeowner loan deal when we can do it for you? Get in touch and we'll search for the best deal from our panel of lenders.
- Find homeowner loans for any purpose
- Help from professional loan consultants in the UK
- No up-front fees
- Borrow from £5,000 to £125,000
Whether you need a loan for home improvements, a new car or just about anything else, Ocean Finance could help you find a great deal. We could help you even if you have a bad credit rating.
Let us help you find a homeowner loan
After all, we've been doing it since 1991, helping over 250,000 people along the way. Whatever kind of loan you're looking for, get in touch and see how we can help.
If you're not sure exactly what you're looking for, don't worry. One of our loan consultants can help you decide on the right type of loan for your needs.
Debt consolidation loans
We offer a number of debt consolidation loan deals for homeowners. Consolidating your debts could help you to:
- Replace multiple debts with one easy-to-manage monthly payment
- Reduce the amount you pay each month
- Free up money for other purposes
Get in touch and see how much smaller your monthly payments could be! Bear in mind that repaying your debts over a longer period could increase the amount of interest to be paid.
Homeowner loan advice
- Is a homeowner loan like a personal loan?
- How does a homeowner loan work?
- Is a homeowner loan bad for my credit rating?
- What can I use a homeowner loan for?
- Is a homeowner loan the same as a secured loan?
Is a homeowner loan like a personal loan?
In some ways yes. The main difference is that you must be a homeowner to apply for a homeowner loan. Homeowner loans can also be for larger amounts (from £5,000 to £125,000) than personal loans, and can be repaid over a longer time period (from 3 to 25 years).
Plus, lenders can be more flexible with homeowner loans, which can be available to people from all walks of life, whether employed, self-employed, retired or in receipt of certain benefits. They're even available to people with less-than-perfect credit ratings.Back to questions
How does a homeowner loan work?
Applying for a homeowner loan and paying it back works in much the same way as with any other kind of loan. Once the loan is agreed and you have your money, you'll make monthly payments to the lender until it has been paid off.
The difference between a homeowner loan and a personal loan is that it's 'secured' against your property.
This means lenders will often accept an application for a homeowner loan where they'd decline an application for a personal loan.
It also means that failing to repay your loan could result in your home being repossessed (although this is only ever used as a last resort and wouldn't happen just because you'd missed a repayment or two). So you should only take out a homeowner loan if you're comfortable with the monthly repayments.Back to questions
Is a homeowner loan bad for my credit rating?
No. In fact, it’s often an option for people who struggle to get other types of loan because their credit score is less than perfect. That’s because, if you’re a homeowner, lenders have the added comfort of knowing your loan is secured against your property.
What's more, keeping up with your repayments could help to improve your credit rating in time.Back to questions
What can I use a homeowner loan for?
Once you have your loan, you can use it for almost anything you like, whether it's one thing or a number of different purposes.
Popular uses for homeowner loans include holidays, home improvements, new cars and debt consolidation (using the loan to repay existing unsecured loans and credit cards to reduce overall monthly outgoings).Back to questions
Is a homeowner loan the same as a secured loan?
Secured loans are often known as homeowner loans simply because they're only available to homeowners.
They're secured against either your home or a different property - we also have loans that can be secured against buy-to-let properties.
Since they're secured, you're more likely to be accepted, as lenders are generally prepared to be more flexible.Back to questions