Find the right loan for you

Need a loan? Find personal and homeowner loans with Ocean Finance. We can find some of the best loans in the UK that can be used for almost any purpose and we may be able to help if you’ve got bad credit.

Find personal loans
from £1,000 to £15,000

  • Instant online decision
  • All credit histories welcome
  • No upfront fees

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Homeowner loans
from £10,000 to £250,000

  • Check if you'll be accepted before you apply
  • Getting a quote won’t affect your credit score
  • We compare 100s of loans with competitive rates

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Debt Consolidation Loans

Apply for a loan that lets you replace all the existing monthly repayments you’re juggling with one easy-to-manage monthly payment.

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Bad Credit Loans

Don’t let having a less-than-ideal credit score get you down. With our help, you can still find a loan that fits with your personal situation.

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Let’s strip it right back to basics - a loan is a lump sum of money you borrow from a lender. You decide how much you need and along with your personal circumstances, that’ll dictate which type of loan you apply for.

Once you’ve set the loan amount, you agree with your lender how much you’re going to pay back each month, including interest, and over what period of time.

How to get a loan online

The process of getting a loan online will vary slightly from lender to lender, but with us it’s super straightforward and looks like this:

  • Tell us how much you want to borrow and how long you need to pay it back
  • Give us a few personal details like your name, address and employment status
  • We’ll then run an eligibility check (which won’t affect your credit score)
  • We get you a quote from our trusted panel of lenders
  • You’ll find out if it’s a ‘yes’ or ‘no’ there and then.

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Try our loan calculator to see what your payments could be

The amount we show you is just an estimate. To get a personalised quote, we’ll ask for a few more details.

Estimated monthly payments:

Illustrative Rate 3.86%


Based on your loan request, you could be suitable for an

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The amount we show is an estimate based on an Illustrative Rate excluding fees. You can choose to pay the Broker Fee separately or have it added to the total amount of credit, which would increase the amount of interest you pay overall. Arranged rates between 3.86% to 24.84% APRC. Repayment terms between 3 and 25 years.

What is the difference between secured and unsecured loans?

Secured loans

A secured loan, sometimes called a homeowner loan, is just that. It’s a loan that’s ‘secured’ against your property, and for that reason is only available to people who own their home.

With a secured loan you can borrow between £10,000 and £250,000 for a duration of up to 25 years.

As well as the larger sums you can borrow with a secured loan, another benefit is you’re more likely to be accepted with a patchy credit record. This is because lenders know they can fall back on the equity in your home if you fail to make repayments, and this gives them added security.

Unsecured loans

An unsecured loan, on the other hand, isn’t tied to anything but you, and that’s why it’s commonly known as a personal loan.

With an unsecured loan, you could borrow from £1,000 to £15,000 for up to five years.

The sums on offer might be lower but so is the risk as your home isn’t on the line. However, because there’s less at stake for you, lenders will run more stringent credit checks before handing out any money, and so securing a personal loan could be trickier (although certainly not impossible) if your credit score isn’t as peachy as you’d like.

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What is an APR or APRC on a loan?

APR (annual percentage rate) represents the total cost of borrowing to the customer over a year. It’s shown as a percentage and includes all interest and charges, for ease of comparison.

APRC (annual percentage rate of charge) represents the total cost of a secured loan or mortgage to the customer, shown as an annual percentage of the total loan amount. It includes all interest rates and charges applied over the full loan term, making it useful for comparison.

What rate will I get?

The rate you’re offered will vary depending on a few factors, including:

  • lender
  • loan type, term and amount
  • your individual circumstances
  • your credit history

Typically, the better your credit history is, the more likely you’ll be offered a lower APR or APRC.

Here at Ocean, our representative APR is 39.9% for unsecured loans and 8.6% APRC for secured loans. This means 51% or more of customers receive this rate or better.

How to get a loan with bad credit

Find the right lender. Some lenders specialise in finding loans for people with poor credit. Why? Because we don’t think someone’s past mistakes should determine their future.

That said, there are no guarantees, largely because it depends on the severity of those past mistakes. If you didn’t pay your phone bill once last year it’s much less likely to hinder your loan application than someone who got a County Court Judgement (CCJ) last month, for example.

Remember, if you’re applying for a loan with poor credit you’re likely to be charged a higher interest rate than someone with a pristine record.

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What is a guarantor loan?

With a guarantor loan, you’re bringing a third party into your loan agreement - someone who says they will pay your loan if you fail to.

Because the lender has the safety net of the guarantor, this type of loan can be useful for anyone with a history of poor money management which has stopped them accessing credit.

Your guarantor can be anyone with a good credit history who’s willing to help but not someone who’s financially linked to you (typically a spouse). Most lenders will require them to be a homeowner, but not all.

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See what our customers say about us

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Take a look at genuine reviews from our happy customers who we’ve helped get accepted for an Ocean credit card, loan or mortgage.

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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


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 — some of the lenders we work with offer products up to 100% LTV. Lower LTVs tend to attract the best lending options for borrowers.

Yes, loans are as safe as any other form of borrowing so long as you:

  • Use a reputable lender
  • Make your repayments on time and in full. Failure to do so could result in damage to credit score or in the case of a secured loan, you’d be putting your home on the line.

A loan could be the right way to borrow money if you:

  • Want to consolidate multiple debts into one monthly repayment
  • Want to borrow money against the value of your home
  • Need a lump sum for something of high value (i.e. a car, wedding, or extension)
  • Like the stability of one fixed monthly sum.

But of course there are other ways to borrow, and they might be more suitable for your needs if you:

  • Only need to borrow a small amount of money over a short period of time
  • Want to vary your monthly repayments
  • Aren’t sure if your circumstances might change in the near future.

If this sounds more like your current situation, a credit card might be a better fit for your borrowing needs.

Types of Loan