Looking for a low-cost loan? We can help you find the best deal on a homeowner or personal loan. Get a quote now.
- Homeowner and personal loans
- Loans for almost any purpose
- No upfront fees
49.9% APR Representative (variable)
Find low-cost loans with Ocean Finance
If you’ve applied for loans on the high street and have been rejected, you might think low-cost loans aren’t available to you. But that’s not necessarily true.
If you’ve missed payments in the past, have CCJs or arrears, lenders may see you as more of a risk to lend to. However, we still may be able to help you find a low-cost loan.
We specialise in assisting people with poor credit ratings, and can help you find the best low-cost loans for bad credit. Whether you’re looking to make some changes to your home, to make a big purchase, or even to consolidate your existing debts, we may be able to help. Get a low-cost loan quote today.
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.
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Representative Example: If you borrow £30,300 over 8 years, initially on a fixed rate for 3 years at 5.25% and for the remaining 5 years on the lender's standard variable rate of 4.85%, you would make 36 monthly payments of £429.77 and 60 monthly payments of £425.62. The total amount of credit is £33,630; the total repayable would be £41,008.92 (this includes a Lender fee of £300 and a Broker fee of £3,030). The overall cost for comparison is 8.40% APRC representative. This means 51% or more of customers receive this rate or better. We have helped people with rates from 2.6% APRC to 26.4% APRC.
Representative Example: If you borrow £1,800 over 24 months at an annual interest rate of 41.2% (fixed), Representative 49.9% APR, you would pay £111.28 per month. The total amount repayable will be £2670.72
A homeowner loan is secured against your property, which means you’ll only be eligible for one if you own your own home or have a mortgage. A homeowner loan is generally for a large amount of money, and you can usually borrow over a long period too.
- Borrow £10,000 to £100,000
- Available over 3 to 25 years
- We compare 100s of loans with competitive rates
Homeowner loans are secured against your property. We are a broker and we arrange secured loans from a panel of lenders. We receive commission upon completion. A fee of 10% of the net loan amount, set at a minimum of £995 and capped at a maximum of £3995 is payable upon completion and can be added to your loan. Loans are subject to status, the rate you are offered may change based on your individual circumstances.
Personal loans aren’t secured against your property, so you don’t need to own your own home to be eligible.
- Borrow £100 to £10,000
- Available over 3 months to 5 years
- Use for almost any purpose
Unsecured loans: 49.9% APR Representative (variable). Ocean, a trading style of Intelligent Lending limited. We are a broker, not a lender. To find you a loan, we work with a preferred lender panel as well as panels operated by other brokers. We will search the lenders in order of who offers the best representative APR, first from our preferred panel and then from the panels of other brokers.
Can a low-cost loan help me rebuild my credit history?
Yes, low-cost loans for bad credit can be very effective in this way. If you’re accepted for a loan and meet your repayments on time every month, you could start to rebuild your credit rating.
As you’ll be demonstrating to lenders that you can borrow and pay back money responsibly, your credit history should reflect this.
Please remember though that failure to pay on time or missing payments can have an adverse effect on your credit file.
For more information read our guide to rebuilding your credit history.
I’ve been rejected by other lenders in the past, can I still apply?
Yes, we may still be able to help, even if other lenders have rejected you in the past. We have loans designed for people with poor credit ratings.
We look at each application on a case by case basis, and we’ll do everything we can to find a loan that’s right for your circumstances.
What’s the difference between a homeowner loan and a personal loan?
The main difference is that you need to be a homeowner to be eligible for a homeowner loan. This isn’t the case with a personal loan.
Homeowner loans are for large amounts of money (£10,000 to £100,000) and they can be repaid over 3 to 25 years. Personal loans are for smaller amounts (£100 to £10,000) and need to be repaid over a shorter term – 3 to 60 months.
What can I use a loan for?
An loan can be used for almost any purpose. Whether you need to do some DIY in your home, buy a new car, or even pay for school or university fees for your kids.
Why use Ocean Finance?
Searching for a loan with Ocean is really quick and simple.
- Personal loans from £100 to £10,000
- Homeowner loans from £10,000 to £100,000
- We consider all circumstances, including CCJs, mortgage arrears, defaults and adverse credit ratings
- No up-front fees