Personal Loans

Borrow from £1,000 up to £15,000

Find homeowner and personal loans with Ocean.

  • Get online decision
  • Know your rate before you apply
  • Comparing won't affect your credit score

How to apply for a personal loan

Fill out our simple form to check your eligibility

Get online approval in seconds

Complete application and receive funds

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. 61.94% APR Representative (fixed).

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. 12.4% APRC Representative.

What is a personal loan?

A personal loan is a one-off cash payment paid into your personal bank account. Then it's down to you to repay the loan (plus interest) with fixed monthly repayments. This is also known as an unsecured loan. 

Unlike homeowner loans, personal loans do not require collateral, meaning borrowers don't have to provide an asset as security, e.g. a house or car. 

How does a personal loan work?

Once approved, a personal loan is paid as a lump sum into your bank account. You then pay this back, plus interest, in fixed monthly payments over a specified length of time. 

The cost of your loan will depend on the amount borrowed, the interest rate charged, any fees, and how long the loan is taken over (known as the ‘term’ of the loan).

Here to help

  • Loans for all situations
  • We could help, even if you've been refused elsewhere
  • Compare personal and homeowner options together
Compare loans

Checking won’t harm your credit score

What can personal loans be used for

There are many uses for a personal loan. The most common include:

Debt consolidation

You may find it beneficial to consolidate multiple debts into one loan.

Home improvements

Renovations or repairs can be paid for with a loan and may also increase the value of your property.

Buying a car

Using a personal loan could make buying a car more accessible than buying it outright. 

Am I eligible for a personal loan?

To apply for a personal loan through Ocean, you must:

  • Be aged 18 years or older
  • Have been a resident in the UK for at least three years 

There are also other factors used to assess your eligibility, which include your:

  • Credit history
  • Employment status
  • Income
  • Credit utilisation
  • Ability to repay any money borrowed
Compare loans

Checking won’t harm your credit score

Adele Kitchen

Personal loans can provide you with the necessary funds to meet a range of needs. Remember, while they can be an effective solution, you should be cautious not to borrow more than necessary, or take on excessive debt.

Adele Kitchen, Personal Finance Writer

Need help with debt?

Life can take an unexpected twist when we least expect it. If you're struggling with debt, talk to your lender straight away to see if there’s anything they can do to help. For more information and free, impartial advice, get in touch with:

  • Santander
  • M&S Bank
  • Shawbrook
  • My Community Finance
  • Lendable
  • Pepper Money
  • Plata
  • Finio
  • Bamboo
  • 118 118 Money
  • Oakbrook Loans
  • Everyday Loans
Compare loans

Checking won’t harm your credit score

Over 25 lenders across the UK

Choice – 100s of loans

Speedy – response in seconds

Compare – see your matches

  • Santander
  • M&S Bank
  • Shawbrook
  • My Community Finance
  • Lendable
  • Pepper Money
  • Plata
  • Finio
  • Bamboo
  • 118 118 Money
  • Oakbrook Loans
  • Everyday Loans
Compare loans

Checking won’t harm your credit score

Compare loans

Checking won’t harm your credit score

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

tick shield icon

Fact-checked