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Bad credit loans

Here at Ocean, we specialise in loans for bad credit. Even if you have a less-than-perfect credit history, we may be able to help you.

  • Personal and homeowner loans
  • Quick and easy to apply
  • Loans for almost any purpose
Did you know we can offer personal loans from £100-10k and homeowner loans for £10k-£100k?
Are you a homeowner?
You can also borrow this amount as a homeowner loan, available over 3 to 25 years. Would you prefer this?

Unsecured loans:
49.9%
APR Representative (variable)
Homeowner loans: We have helped people with rates from 4.3% APRC to 26.6% APRC.

What is a bad credit loan?

Bad credit loans are designed for people with poor credit histories. If you’ve had problems keeping up with your repayments in the past which have left a mark on your credit history, you might find it more difficult to be accepted for a loan now – that’s where we may be able to help with our loans for bad credit.

Here at Ocean, we specialise in finding the right loans for people with bad credit histories. Whether you require extremely bad credit loans or just have a less-than-ideal credit history, we’ll help you find the solution. We don’t rule borrowers out because of missed repayments, CCJs or sparse credit histories. Instead, we aim to find competitive rates so even those with a bad credit history can secure the finance they need.


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Feefo reviews are gathered anonymously from genuine customers. Take a look at some of the comments from people Ocean has helped.

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Fantastic service
Quick and efficient from start to finish, not in use as yet, due to total knee replacement 😉 I'm sure I'll put it to use in the new year.

What is a bad credit secured loan?

If you’re a homeowner and have a poor credit history, you can secure a loan against your home, which gives the lender extra security in case you fail to meet your repayments. Because it’s secured against your home, your property will be at risk if you fail to meet your repayments. The good news is that with these loans for bad credit, no guarantor is required.

How do bad credit loans work?

Bad credit loans work in the same way as any other loan. First things first, you’ll need to decide which loan is best for you: secured or unsecured. This may be determined by whether you’re a homeowner, how much you want to borrow and whether no guarantor is a preferred requirement.

To apply for your loan, you’ll need to provide various personal and financial details before you’re presented with your poor credit loan options. Monthly payments and interest rates will vary for all of the loans with bad credit and may not be finalised until you’re accepted.

Is a bad credit loan for me?

If you’ve been turned down by high street lenders and are struggling to find credit elsewhere, a bad credit loan may be the right solution for you.

There’s no guarantee you’ll be accepted for bad credit loans if you have a poor credit history. There are lots of other factors lenders consider when making their decision, such as your past money management; income; job security; age; profession; and how long you’ve lived in your home.

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Things to consider with bad credit loans

If you have a poor credit history, lenders will see you as more of a risk, even reputable loan companies for bad credit. If you’ve struggled to meet repayments in the past or have little-to-no credit history to look back on, some lenders may turn down your application because they’re not confident you’ll keep up with your monthly instalments.

Because of this, interest rates for bad credit loans are likely to be higher than on loans designed for people with the best credit history. You should only take out a bad credit loan if you’re confident you can meet the monthly repayments. If you don’t, you risk causing more damage to your credit history.

Advantages and disadvantages of bad credit loans

The main advantage of a bad credit loan is that you’re able to borrow money even if you have a poor credit history. Another advantage is that a bad credit loan in itself could actually help to improve your credit history – providing you make all your repayments in full and on time and use reputable loan companies for bad credit.

On the flip-side, the key disadvantage of a bad credit loan is that the interest will be higher than on loans for people with a good credit history. However, if you need extra funds in the form of poor credit loans, then this can be hard to avoid.

Common questions

Are bad credit loans safe?

As with any type of lending, bad credit loans are a safe way to borrow providing you can meet the monthly payments you’ve agreed to. If, for any reason, you’re unable to pay back any loans for bad credit you take out, you should get in touch with your lender straightaway to discuss your options.

What can cause a bad credit history?

There are various things that can lead you to have a bad credit history:

  • Late or missed repayments on anything from a mortgage, credit card or loan, to a mobile phone bill
  • High levels of outstanding debt
  • Having defaults or CCJs against your name
  • Being declared bankrupt
  • Applying for lots of credit in a short space of time

How much can I borrow with a bad credit loan?

With Ocean, you can borrow from £100 to £10,000 with our personal loans, and from £10,000 to £100,000 with our homeowner loan deals. And as we specialise in finding loans for bad credit, you’re sure to find the right deal for your circumstances when you choose us.

What can I use a bad credit loan for?

You can use a bad credit loan for almost any purpose. Whether you need to finance a home improvement project, consolidate outstanding debts, purchase a new car or fund a wedding, we can find loans for bad credit to meet almost any requirement.

Can a bad credit loan improve my credit history?

Yes. If you make all of your monthly loan repayments on time and in full, you’ll prove that you can manage money responsibly. This can indeed improve your credit history, whether you use extremely bad credit loans or less serious options.

It’s important to remember that bad credit loans are often a last resort if you’re struggling to borrow money, so bear in mind that if you fail to stick to the terms or your loan agreement, you may find it even more difficult to borrow money in the future.

Why use Ocean?

We’ve been helping our customers to find poor credit loans for over two decades. We’ll consider all circumstances, including CCJs, defaults and payment arrears.

  • No upfront fees
  • Homeowner and personal loans
  • All credit histories welcome

Other types of loan we offer