Low-cost loans

Looking for a low-cost loan? We can help find you the best deal you're eligible for from our panel of lenders. Get a quote today, without affecting your credit score.

  • Homeowner and personal loans
  • Loans for almost any purpose
  • No upfront fees

Low-cost loans with Ocean

If your credit history is less than perfect, you may find it more difficult to get accepted for a loan with a low interest rate. Here at Ocean, we don’t think money mistakes from the past should make borrowing in the future unattainable, which is why we help find loans for people with a range of credit histories.

So, whether you're looking to consolidate your debts, make home improvements, or buy a big-ticket item, we have plenty of low-cost loan options to consider. And getting a quote won't affect your credit score.

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. Any quote is inclusive of the Broker Fee and all associated costs which is calculated as 12% of the net loan amount, capped at a maximum of £4,495. Loans are subject to status, and the rate you are offered may change based on your individual circumstances. 12.70% APRC Representative.

Personal loans are unsecured. 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 personal loan. We receive commission upon completion. A Broker Fee is not payable. 79.5% APR Representative (fixed).

How do I get low-interest rate loans?

Your personal circumstances and the loans market itself are two of the biggest factors affecting the interest rate you're quoted.

The loans market

The Bank of England base rate influences what banks charge. If it goes up, interest rates as a whole can go up. If it goes down, then so might the interest rate you're offered.

Personal circumstances

Usually, the best interest rates are saved for borrowers with the best credit histories, and that’s because they pose less risk to lenders. So, if you want to get a low-interest rate loan, you need to do everything within your power to get your credit score in good shape, and that means:

  • Sticking to any existing credit agreements on time and in full
  • Getting your credit utilisation ratio down to 25%
  • Disputing any errors on your credit report
  • Not making lots of applications in a short space of time
  • Making sure you’re on the electoral rol

If you want a low-cost loan but your credit history’s not all that great you’ve got two options:

  1. Hold off applying until you’ve had time to work on improving your credit score and/or
  2. Do your research and look out for bad credit loans, designed for those with a less-than-perfect credit history. That way you’re more likely to be accepted.

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.