Need a loan? Find personal and homeowner loans with Ocean. Our loans can be used for almost any purpose and we may be able to help if you’ve got bad credit.
Looking for a loan? At Ocean, we could help you find a loan for almost any purpose. Whether you’re looking to make a big purchase, need to make some home improvements, or even want to consolidate your debts, we could help.
We offer two different types of loan:
Also called an unsecured loan, it isn’t secured against your property, so you don’t need to own your own home to be eligible to apply.
Unsecured loans : 44.9% APR Representative. Ocean is part of Intelligent Lending Limited. We are a broker for the Ocean personal loan. R Raphael & Sons Plc are the lender. We will not charge you for arranging your personal loan but, if your application completes, the lender will pay us for our services.
Also known as a secured loan, homeowner loans are secured against your property, so you’ll only be eligible if you own your home or have a mortgage.
We arrange secured loans from a panel of lenders. We 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.
If you’re repaying multiple existing debts each month, you could use a debt consolidation loan to make the payments more manageable.
By using a loan to consolidate your debts, you could:
Get a quote for a debt consolidation loan today and see what your monthly repayments could be.
Remember, as you’ll be repaying your debt over a longer period, you could increase the amount of interest to be paid overall.
Applying for a loan with Ocean is really easy. Click on the ‘find out more’ buttons above to get a bit more information on the different types of loan we offer.
You can then get a quote for a personal loan, or use our quick loan calculator to see what your payments might be on a homeowner loan before applying.
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All our personal loans are unsecured. This means that they they’re not secured against your property, so you don’t have to be a homeowner to apply. This also means that your home won’t be at risk if you find yourself unable to meet your monthly repayments.
Homeowner loans are also available. You can find out more about those here.
Personal loans are generally for small to medium amounts of money (between £1,000 to £5,000) and are repaid over 1 to 4 years. Homeowner loans can be much larger (between £10,000 and £250,000) and the repayment periods can be much longer too – up to 30 years.
However, as the name suggests, you can only apply for a homeowner loan if you own your own property. This isn’t the case with a personal loan.
If your credit rating isn’t perfect, it can be harder to get a loan, but it doesn’t mean it’s impossible. A lender may simply offer you a higher interest rate than they would if you had a good credit rating.
If you own your own home, you may be more likely to be accepted for a homeowner loan. That’s because the loan is secured against your property, giving your lender more security in the event you don’t make your repayments.
Remember though, with a homeowner loan, your property may be at risk if you don’t meet your repayments.
Homeowner loans do usually come with a lower APR, which means you’ll pay a lower amount of interest, but they’re also usually repaid over a longer period than a personal loan. This means you could pay more interest in total by the time you’ve paid it all off.
We’ve helped hundreds of thousands of people find the right loan, and we can do the same for you.
Confused by the term adverse credit? Find out what this means and how to turn your credit history around.
Confused by the term APR? Don’t panic – we’ll take you through all you need to know.
Can you take out a loan if you have a bad credit history? Well, it all depends on how bad it is – and whether it’s a good idea. Find out more here.
