Advantages of Ocean Finance

Ocean Finance have been helping people since 1991 – that’s over 15 years! During that time, they have come across individuals in many different circumstances. This means that whatever your situation, and whatever you want to use your loan for, Ocean Finance have dealt with someone in a similar situation before.

Ocean are also a registered member of the Finance Industry Standards Association (FISA). This means that they offer higher standards of service than is required by law.

According to their website, they also say ‘yes’ to more people than any other finance broker.

Disadvantages of Ocean Finance

The most prominent disadvantage is the interest rate. At the time of writing, you could get an unsecured loan with typical, variable rates from 6.5% APR – 7% APR with many high street lenders. Ocean’s typical rate was 13.8% APR. Whether this has gone up or down since this article was written, the fact is you may be paying more in interest than you have to.

Ocean say ‘yes’ to more people because of the rates they offer. They are more suited to people with a bad credit history as these individuals may struggle to get a loan elsewhere – certainly at a rate of 6.5% APR.

If you have bad credit and have been turned down for a loan or remortgage elsewhere then Ocean Finance may be able to help you. If you have a good credit history, you may be better considering a loan from a high street lender.

Click here to visit the Ocean Finance website

Click here to see more debt company overviews

If you would like to know more about debt, please use some of the helpful links below.

Helpful debt solution links
Payplan overview
Debt management DIY

Remember, Advance With Finance is a completely free, impartial service. Although the information on this website is provided by industry experts, it should never replace the advice of a debt adviser who understands your individual circumstances.

What is debt consolidation?

Debt consolidation simply means replacing multiple loans with one new loan. If you have debts with different creditors, you can combine them into one loan using a debt consolidation loan.

Find out more about debt consolidation here >>