Secured loans

Looking for a secured loan? Use Ocean’s Smart Search tool to see if you’ll be accepted before you apply. It’s simple to use and it won’t affect your credit score.

  • Borrow £10,000 to £250,000
  • We compare over 100 loans to find you the best deal
  • Getting a quote won’t affect your credit report
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Get a secured loan with Ocean

We’ve helped hundreds of thousands of people find the right loan deal over the last 20 years, and we could do the same for you. Fill out our simple calculator with a few details and find out how much, approximately, your monthly payments will be before you apply.

What is a secured loan?

Also known as homeowner loans, secured loans are secured against your property – so they are only available to people who own their own property.

A secured loan from Ocean ranges from £10,000 to £250,000 – the amount you can borrow, for how long and the interest rate you’re offered will depend on the amount of equity you have in your home, as well as your personal circumstances.

Can I get a secured loan if I’ve got bad credit?

Yes, a secured loan could be an option for you if you’ve got a bad credit history. A secured loan may actually be easier to obtain than other types of loan if your credit rating isn’t perfect. That’s because the lender has the extra security of the loan being secured against your property. That means you’ll be seen as less of a risk to lend to.

Keeping up with your repayments could help to improve your credit history over time too.

Get a quote from Ocean today and see how much your monthly repayments will be before you apply.

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Representative Example
If you borrow £25,000 over 10 years at an annual interest rate of 8.8% APR (variable) you would make 120 payments of £357.57 per month. The total amount repayable will be £42,908 (This includes an average Lender fee of £495 & Broker fee of £2,975). The overall cost for comparison is 12.6% APR Representative.


Secured loan rates start from 5.4% APR. We also offer a range of products with rates up to 34.1% APR, which allows us to help people with a range of credit profiles. We arrange secured loans from a panel of lenders. Ocean is part of Intelligent Lending Limited. We are a broker and we will receive a commission from the lender upon completion. A fee of 12.5% of the net loan amount, capped at £2,975, is payable upon completion. The actual rate available will depend upon your circumstances. Ask for a personalised illustration.

Common questions

Is a secured loan the same as a mortgage?

A mortgage is a type of secured loan. However, the secured loans we’re talking about here are similar to personal loans, except they’re only available to homeowners.You can only have a secured loan if you own your own property.

If you’re not a homeowner, you could be eligible for a personal loan.

How does a secured loan work?

Like all loans, once you have the money, you simply repay your lender in fixed monthly payments. With a secured loan, your home is used as security against missed repayments. So, if you find you can’t repay the loan, your home could be sold to make up for it. That’s why you should only ever take out a secured loan if you’re confident you’ll be able to pay it back every month.

Will a secured loan damage my credit history?

No, if you make your repayments on time each month, it could actually help improve your credit history over time. That’s because borrowing money and paying it back on time reflects well on your credit history.

What can a secured loan be used for?

A loan from Ocean can be used for almost any purpose – whether it’s for some home improvements, to buy a new car, to consolidate your debts or to help pay school or uni fees for your children.

Based on reviews - 99% of customers who left an Ocean Finance review recommend us with an average rating of 4.9 out of 5 from 528 reviews left by Ocean Finance customers (as of June, 2016)