Got a question in mind? We’ve put together a list of commonly asked questions to help you find the answer you’re looking for.
Ocean Finance will never ask you to send money in return for a loan!
From getting accepted, it will take between 7-10 working days to receive your Ocean Credit Card. Your PIN will arrive a few days before your card.
If you haven’t received the Ocean Credit Card within 10 working days, you can send Capital One a secure message via your online account.
You should receive your PIN a few days before your card arrives. If you don’t receive yours within 7 working days since you were accepted, please get in touch with Capital One and they’ll send you a duplicate.
You can activate your new Ocean Credit Card online, via the mobile app or by phone.
To activate your card by phone, call Capital One on 0800 952 5090 from 7am-9pm Monday to Friday and 8am-5pm Saturday and Sunday.
You can manage your Ocean Credit Card account using the Capital One app. The app is available on the App Store and Google Play Store.
If you already have the app for another Capital One card, it’s easy to add your Ocean Credit Card:
If your Ocean Credit Card is lost or stolen, you should let Capital One know right away. You can report your card as lost or stolen using the Capital One app; simply select ‘My Card’ to find the link.
Alternatively, you can give them a call on 0800 952 5267.
If you’re struggling to keep up with your credit card payments, it’s important to speak to Capital One as soon as you can. Speaking to them at the earliest opportunity will help you work out a plan.
You can also speak to free debt advice services such as:
This depends on your individual circumstances and the lender’s criteria. You can use our eligibility checker to see if you’re likely to be accepted, before you apply. This won’t affect your credit score.
Not necessarily, no. This will depend on your personal circumstances and the lender’s criteria. We can search for loan options with or without a guarantor.
The amount you pay back each month will depend on a few factors, such as:
Although a longer loan term may mean lower monthly repayments, it can also mean you pay more interest overall.
To get an idea of how much your monthly payment could be, take a look at our loan calculator.
We find personal loans from £1,000 to £15,000 and secured loans from £10,000 to £500,000. The exact amount you can borrow will depend on the lender and your individual circumstances.
When you apply for a personal loan, we’ll ask for your bank details. Don’t worry – this is just so we can verify that there’s a valid bank account for the loan to be paid into.
We’ll never store this information on our system and we’ll never ask for your card details.
We’ll find the right loan for you absolutely free of charge. We may get paid a fee or commission by the lenders or brokers we introduce you to.
A secured loan is money you borrow that's secured against your property. As it's only available to homeowners, it's often referred to as a homeowner loan. With your property acting as a safety net for the lender, you’re likely to get approved – even if you have a less-than-ideal credit score. But if you fall behind with the repayments, then your home could be at risk.
If you’ve paid off your mortgage already, you won’t be eligible for a secured loan – but we may still be able to help you borrow money against your home in the form of a mortgage, from our panel of lenders.
Loan to value (LTV) is the percentage of what you owe on your mortgage (and any secured loans) in relation to the current value of your property.
How it’s calculated:
(Total Borrowing Against Property ÷ Current Property Value) x 100 = % LTV
Example:
Total Borrowing Against Property = £150,000
Current Property Value = £200,000
£150,000 ÷ £200,000 = 0.75
0.75 x 100 = 75% LTV
Lenders use LTV (among other things) to assess eligibility, rates and lending limits when reviewing mortgage and secured loan applications. Each lender sets their own limits. Lower LTVs tend to attract the best lending options for borrowers.
With Ocean, it’s easy and we’re there for every step of the process.
1. You’ll complete a short form online and get an instant yes or no approval decision – without affecting your credit score.
2. A qualified adviser will call to discuss your loan options and answer any questions.
3. The adviser will also send you a link to our app, so you can read and e-sign your loan documents quickly and securely.
4. We’ll work with the lender and any other third parties (like arranging a valuation of your property) on your behalf, until your loan is funded.
Yes, we’ll ask for proof of income for all secured loans. There’s a range of ways to prove this, such as payslips or self-assessment tax returns for example. One of our qualified advisers will explain what we need from you.
We work with a wide panel of lenders offering hundreds of loan options. Some loans have early repayment charges, and some don’t. If not having an early repayment charge is important to you, let your adviser know so they can find the right loan deal for you.
The process with Ocean is typically around 3 or 4 weeks, but this can vary depending on the circumstances and how quickly we receive the paperwork from you.
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Credit Cards:
Give our partners at Capital One a call:
0344 481 2812 and +44 1159 938 002 (outside UK)
To send an online message to our partners at Capital One or read their FAQs, click here
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Lost or stolen card? Call the 24hr emergency hotline: 0800 952 5267
Personal Loans:
Secured Loans:
Our advisers will take care of you:
Mon - Thu: 9am - 8pm Friday: 9am - 5:30pm
Remortgages:
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