Homeowner loans

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£5,000 - £125,000

  • Our loan search won't effect your credit rating
  • We compare more than 100 products to find you the best one
  • To qualify for this loan you must own a home
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A homeowner loan could cost you less...

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.

  • 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

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.

Secured loans : Rates start from 9.23% APR. We also offer a range of products with rates up to 33.5% APR, which allows us to help people with a range of credit profiles. 15.9% APR typical variable. 2 out of 3 customers will receive this rate or lower. Ocean Finance arranges secured loans from a panel of lenders. Ocean will receive a commission from the lender upon completion. A fee of 12.5% of the net loan amount, capped at £2975, is payable upon completion. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

Unsecured loans : 24.9% APR Representative

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.

Get a quote

Independent customer feedback

All Feefo reviews are gathered anonymously from genuine customers. Take a look at these comments from people we've helped.

99

of our customers are pleased with our service

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11 Hour(s) ago

very friendly and helpful

34 Hour(s) ago

Really helpful staff, making the process very easy

46 Hour(s) ago

Smooth. Streamlined and very attentive. Thanks to the team

Common questions

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.

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.

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 - a homeowner loan can be easier to get hold of, since the lender has the added comfort of having property offered as security.

What's more, keeping up with your repayments could help to improve your credit rating in time.

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 home improvements, new cars and debt consolidation (using the loan to repay existing unsecured loans and credit cards to reduce overall monthly outgoings).

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.

Other types of loans we offer
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.