Homeowner loans
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 qualified loan consultants in the UK
- No up-front fees
- Borrow from £3,000 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. You may also be able to borrow more and pay it back over a longer period than you would with a personal loan.
Homeowner loans tend to be easier to get hold of than personal loans, even if you have a bad credit rating, because they are secured against your home. However, this also means you could lose your home if you can't keep up with your payments.
Back to questionsHow does a homeowner loan work?
Applying for a homeowner loan and paying it back works just like 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 this and a personal loan is that a homeowner loan is 'secured'. In simple terms, it means that failing to repay your loan could result in your home being repossessed and sold. For this reason, you should only take out a homeowner loan if you're completely sure you can pay it back.
Back to questionsIs a homeowner loan bad for my credit rating?
No. In fact, it could be an option for people who struggle to get other types of loan because of a bad credit score.
Because these loans are secured against your home, the risk of missed payments is less of a concern for lenders. As such, they can be easier to get hold of than some other types of loan.
What's more, keeping up with your repayments over time should help to improve your credit rating.
Back to questionsWhat can I use a homeowner loan for?
Once you have your loan, you can use it for anything you like. Popular uses for homeowner loans include holidays, home improvements or a new car - but as long as the amount you've borrowed covers it, you can buy it.
Of course, you should always be careful. If you have any reason to believe you'd struggle to repay what you want to borrow, either borrow less or avoid borrowing altogether.
Back to questionsIs a homeowner loan the same as a secured loan?
Yes, it is. They are both loans that are secured against your home. This means you're more likely to be accepted, but it also means you could lose your home if you don't keep up with your payments.
Secured loans are often known as homeowner loans simply because they are only available to homeowners.
Back to questions