RSS Feed

Related Articles

Related Categories

Ocean Finance adds personal loans to its range

23rd June 2014 Print

Mortgage and loan broker Ocean Finance has launched a personal loans service. For the first time, Ocean customers will be able to apply for unsecured loans between £1,000 and £15,000 for any purpose, with a rate of 24.9% APR Representative (variable).
 
Research carried out for Ocean Finance in March of this year showed that, of the one in 10 (12%) people who had applied for a personal loan in the preceding 12 months, around one in eight (16%) were rejected. Meanwhile, nearly one in 10 (8.7%) were offered the loan, but at a higher interest rate than they applied for.
 
Having a poor credit rating can make it harder to get a personal loan, but it may not be impossible. Because every lender has its own criteria when assessing whether an applicant qualifies for a loan, it can be very difficult for rejected applicants to know on what grounds they did not qualify, or where to apply where they are more likely to be accepted. Just because an applicant is rejected by one lender, it does not follow that they will be rejected by them all, as each one has its own set of lending guidelines in place.
 
Ocean Finance personal loans are designed to be available to people with a wide range of circumstances and credit histories. They can be used for any purpose; from buying a car to funding home improvements, and in most cases applicants are provided with an instant decision. The online application process is quick and simple, and there is no fee for arranging the loan, which is provided by Moneyway.
 
To find out more, visit oceanfinance.co.uk.