Poor Credit Loans
Looking for a loan but have poor credit? We specialise in helping people who have poor credit ratings gain access to a range of loans for poor credit.
- Personal and Homeowner loans
- All credit histories welcome
- No upfront fees
49.9% APR Representative (variable) Homeowner loans: We have helped people with rates from 4.3% APRC to 26.6% APRC.
What’s the difference between a homeowner and a personal loan?
A homeowner loan, or a secured loan, as they’re sometimes called, is secured against your property, so you have to own your own home to be eligible. They’re generally for larger amounts of money (around £10,000 to £100,000) and the repayment period ranges from 3 to 25 years. Because they’re secured against your home, it may be at risk if you don’t keep up your repayments.
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.
A personal loan, or an unsecured loan, isn’t secured against your home, so you don’t have to be a homeowner to be accepted. Compared to homeowner loans, they’re for smaller amounts of money (£100 to £10,000) and the repayment period is shorter too – usually 3 to 60 months, depending on how much you borrow.
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.
How can a debt consolidation loan help?
A debt consolidation loan could help you reduce your monthly debt repayments. You use the loan to pay off your existing debts, and then repay the new loan over a longer period of time.
It can simplify your finances, as you’ll replace multiple payments each month with just one.
Please remember, if you reduce your monthly repayments by extending the repayment period, you may pay more interest in the long run.
Please also be aware that debt consolidation loans are not designed to help if you’re struggling with debts. If you have serious debt problems, you should seek expert help as soon as possible.
Can I get a loan if I’ve missed payments in the past?
If you have a poor credit rating due to missed payments, it can be more difficult to find a loan. That doesn’t mean it’s impossible though.
Our panel of lenders have loans that are designed for people with poor credit ratings and we’ll do our best to find you a good deal. Please be aware that the loan may carry a higher interest rate compared to a loan for someone with a perfect credit history.
Why use Ocean Finance?
We’ve helped hundreds of thousands of people find the right loan, and we can do the same for you.
- We look at every application on a case-by-case basis – even if you have poor credit, we’ll do our best to find you a loan deal from our panel of lenders.
- Over 20 years' experience
- There are no up-front fees to worry about