Ocean Finance Loans
- Typical APR: 16.9%
- Min: £3,000
- Max: £100,000
- Term: 3 - 25 Years
- Bad Credit: Yes
Summary
Founded in 1991, Ocean Finance is based in Tamworth with over 200 employees and has helped more than 250,000 customers from all walks of life.
Practices
There is no obligation for inquiring or applying for a loan and there is not an interview process as part of the application.
Services
Ocean Finance arranges personal loans ranging from £3,000 - £100,000 as well as remortgages from £10,000 - £750,000. Finance loans may be used for any purpose including debt consolidation, home improvement, new vehicles, or holidays. Repayment terms range from three to twenty-five years, and programs are offered with loan values up to 125% of your home value.
Interest rates are primarily variable, but are fixed with certain loans. Ocean Finance offers customer an optional payment protection program as well to guarantee the loan. Loans up to £25,000 can be paid early with rebates available, but loans over that amount are subject to policies of the individual lender.
Clients and Customers
The company works exclusively with UK homeowners regardless of financial past or credit score. Ocean Finance has programs to help those who have defaults, CCJs or mortgage arrears and are capable of helping those with poor credit rates as well. Self employed, retired and pensioned individuals are encouraged to apply as well.
Associations and Credentials
Ocean Finance is registered with the Finance Industry Standards Association (FISA) and is also licensed by the Office of Fair Trading and The Corporation of Finance Brokers.
Interest Rates
Interest rates range from 9.4% to 29.9% variable for homeowner loans with a typical rate of 16.9%. Home remortgages have an average rate of 8.6% ARP. Some loans offer fixed rates for the entire term while others can be arranged for the first five years only. Individual interest rates are determined by your personal credit score and financial situation.
