Calculate your estimated monthly loan payments

For secured and personal loans

    Representative Example: If you borrow £6,000 over 36 months at an annual interest rate of 39.9% (fixed), Representative 39.9% APR, you would pay £268.20 per month. The total amount repayable will be £9,655.20. Rates from 13.5% to 99.9% APR, which allows us to help customers with a range of credit profiles.

    Compare our loans

    Secured Loans from £10,000 to £500,000

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

    12.70% APRC Representative (variable)

    Personal Loans from £1,000 to £15,000

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

    79.5% APR Representative (variable)

    Ocean Finance is a trading style of Intelligent Lending Limited. We are a credit broker working with a panel of lenders to find you a loan.

    Homeowner loans are secured against your property.

    What’s the difference between secured and unsecured loans?

    Unsecured loans (also known as personal loans) and secured loans are both forms of borrowing that involve paying back a lump sum in monthly instalments, over a set period of time. However, there are differences you should consider:

    Secured loans

    Tied to an asset: you need to be confident that you can keep up with the repayments, so your home is not put at risk.

    Wide-ranging loan amounts: from £10,000 to £500,000 with Ocean.

    Lower monthly repayments: you can spread the repayments over a longer period (up to 30 years), potentially with lower interest rates. However, a longer loan term may lead to you paying more interest overall.

    Easier to get accepted: lenders may see you as lower risk if you’re using your home as security, so you could get accepted even if you have a low credit score or a thin credit history.

    Unsecured loans

    No asset needed: if you fall behind with your repayments, your home won’t be at risk, but your credit score will be affected. This could make it more difficult to get finance in the future.

    Smaller loan amounts: ranging from £1,000 to £15,000 with Ocean.

    Higher monthly repayments: you may end up paying more each month, as there’s usually less time to repay the loan (up to 5 years).

    More difficult to get accepted: as there’s no security for the lender, they may place more emphasis on your credit score. So, you could find it trickier to get approved for an unsecured loan if you’ve experienced financial difficulties.

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    Loans can meet various financial needs, but it’s important to borrow only what you can afford to repay. Before taking out a loan, consider how much you need it and how likely you are to be able to keep up with repayments over the full term.

    Adele Kitchen, Personal Finance Writer

    How could we help you?

    Ocean has provided access to loans, credit cards and mortgages to people across the UK since 1991. In this time, we’ve pre-approved more than a million people, offering products and advice to suit their circumstances.

    • All credit histories considered

    • Check your eligibility without affecting your credit score

    • Save time finding the right loan deal

    You can learn more about Ocean on our about us page.

    Homeowner loans are secured against your property. This means your home may be at risk if you fall behind with your secured loan or mortgage repayments.

    Remember, if you consolidate your existing borrowing, you may be extending the term and increasing the amount you repay in total.

    Written by: Zubin Kavarana

    Edited by: Helen Fox

    Reviewed by: Matt Waller

    Last updated

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