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LOAN CALCULATOR
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We will provide a 'decision in principle' within 48 hours...

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0800 916 9186
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Questions & Answers...

 
• How much can I borrow?
• What if I already have defaults, CCJs or mortgage arrears?
• Over what period of time can I spread my loan?
• Are Fixed Interest Rates available?
• Can you offer a scheme whereby my repayments can be made if I am ill or made redundant?
• What APR will I be charged?
• Is the application confidential?
• Are any restrictions placed on how I can spend the money?
• What if I want to settle the loan early?
• What if I want to move house?
• What if I want to borrow more in the future?
• How long will the loan take to arrange?
• How will Ocean be paid ?
• What if my circumstances change - or if I have other questions?
• Is it safe to apply on line and will the personal details I provide be secure?

If you have any other questions please call free on 0800 916 9186 or use our enquiry form.

How much can I borrow?

This will depend upon your income and the amount of equity within your property. Some plans enable you to borrow up to 90% of your property value. Loan amounts are available from £3,000 to £100,000.

Subject to these factors we can arrange a loan from a minimum of £3,000 to a maximum of £100,000.

What if I already have defaults, CCJs or mortgage arrears?

We have many lenders on our panel offering a diverse range of plans. This enables us to arrange finance for people in some of the most difficult circumstances.

Over what period of time can I spread my loan?

This is usually entirely up to you, the Loan Calculator may help you decide. Generally loans are available over three to twenty-five years.

Are fixed interest rates available?

On the majority of our loans we are able to offer interest rates fixed for up to five years (where the loan term is 60 months or longer). Rates of interest that are fixed for the whole loan term are also available.

Can you offer a scheme whereby my repayments can be made if I am ill or made redundant?

Yes, we offer an optional accident, sickness and redundancy package for your peace of mind. The Payment Protection section provides details of this valuable cover.

What APR will I be charged?

Click here to read more...

Is the application confidential?

Absolutely. Your loan application is treated in the strictest confidence. We will not contact your employers, bank or any other third party without your prior permission.

Are any restrictions placed on how I can spend the money?

No, you can usually utilise the money for almost any purpose. Perhaps you want to pay off all your higher rate credit leaving you with just one manageable monthly payment. Alternatively you may wish to carry out home improvements, purchase a car, caravan, boat, conservatory or perhaps take a holiday!

Wherever possible the money is yours to spend as you wish.

What if I want to settle the loan early?

Most Secured Home Owner Loans are governed by the consumer credit act. Early payment of regulated loans will incur an early settlement charge of 1 months interest if one months written notice is given, otherwise two months interest will be charged

What if I want to move house?

Simply pay the outstanding loan balance from the proceeds of the sale or alternatively we may be able to transfer the loan to your new property.

What if I want to borrow more in the future?

Simply telephone our office and we will gladly supply you with a quotation for a further advance.

How long will the loan take to arrange?

The whole process usually takes two to four weeks dependent upon a number of factors including how quickly you can supply us with the documentation required to complete your loan.

How will Ocean be paid ?

Ocean will receive a commission from the lending company. This is variable and is dependent on a number of factors including:

Who the lender is
The interest rate charged
Whether optional payment protection insurance is taken with the loan

The typical amount of commission received would be 10.2% of the amount borrowed. This commission payment is a payment from the lender to us. It is not deducted from your loan advance.

Ocean may also charge you a fee. The fee is up to 12.5% of the loan amount and is only payable on completion of your loan. This fee is normally added to your loan.

The Finance Industry Standards Association guide that we will send you with your loan offer contains further details on how we are remunerated.

What if my circumstances change - or if I have other questions?

As a customer of Ocean Finance, you are never left without good advice. You can speak to our trained staff who draw on extensive experience of helping homeowners like yourself. So you may rely on prompt and sensitive help.

Is it safe to apply on line and will the personal details I provide be secure?

It is extremely safe to apply on-line as our web site employs the latest 128 bit encryption technology, therefore your details cannot be viewed by any unauthorised third party.

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