Find a bad credit loan with Ocean

If, like many people across the UK, you have bad credit history, finding a loan can feel like a difficult, and expensive task. It’s true that if your credit rating isn’t 100% perfect, lenders may see you as more of a risk to lend to, but here at Ocean, we specialise in helping people just like you.

Loan applications are assessed subject to your current status but if you're accepted for a loan, paying it back on time each month can actually help.

There are many different reasons you may have a less than perfect credit history – perhaps you have got a CCJ, or missed or made late payments in the past. You may even be considered to have a bad credit rating because you haven’t borrowed before so you don’t have a history of responsible borrowing for lenders to see. At Ocean, we specialise in finding people like you the best loan deals, no matter what your circumstances are.

Loans for people with bad credit histories do typically carry less favourable interest rates compared to some other loans, but they can be very helpful in terms of rebuilding your credit history, as long as you meet your repayments on time every month.

What types of loan do Ocean offer?

You can apply for two different types of loan at Ocean – homeowner and personal.

A homeowner loans, sometimes referred to as a secured loan, is secured against your property, which gives the lender extra security in case you fail to make your repayments. Because the loan is secured, your home is at risk if you don’t keep up to date with the repayments. You need to own your own property to be eligible for one of these loans, and they’re usually for larger amounts of money compared to a personal loan (usually £10,000 and £250,000), and can be repaid over a longer time period (usually from 3 to 30 years).

A personal loan isn’t secured against your property, so is sometimes referred to as an unsecured loan you don’t have to be a homeowner to apply. they’re generally for smaller amounts of money (between £2,000 and £5,000) and will need to be repaid over 2 to 4 years.

What can I take a loan out for?

Loans from Ocean can be for a number of purposes. You could use it to consolidate your existing credit cards, store cards or unsecured loans, leaving you with just one, more affordable, monthly repayment. Or it could be for home improvements, a new car, or to pay school fees or uni costs.

Why Ocean?

Applying for a loan through Ocean is quick and easy – just give us a few details, like how much you’d like to borrow and how long for, and we’ll give you an instant quote.

  • We’ll consider all circumstances – even if you’ve CCJs, mortgage arrears, defaults or a bad credit rating
  • There are no up-front fees
  • Getting a quote will not affect your credit rating
  • We can help you if you’re self-employed


Secured loans: 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.

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.

Based on reviews - 99% of customers who left an Ocean Finance review recommend us with an average rating of 4.9 out of 5 from 512 reviews left by Ocean Finance customers (as of May, 2016)