It became known in the late 1990s and early 2000s for its advertising, including sponsoring its own channel on Sky TV[1] and its advertising became widely parodied.[2] The firm prospered on the back of rising house prices and the credit boom. By 2002 the firm was a leading player in the UK's secured loan market valued at over £14bn.[3]
Ocean Finance was the shirt sponsor of Tamworth F.C. from 2004 - 2009.[7] In 2008, it launched the UK's first TV channel dedicated to promoting loans and mortgages.[8]
Like many other mortgage businesses it struggled after the 2008 global credit crunch. The Ocean Finance brand was acquired[9] by Think Money Group in 2012. In 2014 the company launched the Ocean Credit Card in conjunction with Capital One.[10]
Criticismsedit
In 2004, the firm was criticized by some for its focus on offering second charge (secured) loans, to sub prime customers, often used for debt consolidation.[11]
Referencesedit
^"Ocean Finance launches dedicated TV channel". Brand Republic. Retrieved 2015-10-15.
^"A Look Back At The 00s: 'Glo-fi' And The Sadness Of The Advertised Man". The Quietus. Retrieved 10 March 2016.
^"Secured lending rises 37% in a year". theguardian.com. Retrieved 10 March 2016.
^"AIG buys UK lender Ocean Finance". BBC News Online. 2006-11-17. Retrieved 2015-10-15.
^"Product launches of the week". Your Money. Retrieved 2015-10-15.
^Ringshaw, Grant. "Pioneer of controversial loans to net £250m from Ocean Finance sale". The Daily Telegraph. Retrieved 18 March 2016.
External linksedit
Ocean Finance website
Think Money Group
December 15, 2023
ocean, finance, loans, credit, card, mortgages, business, 1991, staffordshire, united, kingdom, trade, nameoceantypeprivately, ownedindustryfinancial, servicesfounded1991founderpaul, neweyheadquartersmanchester, englandarea, servedunited, kingdomproductscredit. Ocean Finance is a loans credit card and mortgages business set up in 1991 in Staffordshire United Kingdom Ocean FinanceTrade nameOceanTypePrivately ownedIndustryFinancial servicesFounded1991FounderPaul NeweyHeadquartersManchester EnglandArea servedUnited KingdomProductsCredit cards loans mortgages car financeOwnerIntelligent Lending LimitedWebsitewww wbr oceanfinance wbr co wbr uk Contents 1 History 2 Criticisms 3 References 4 External linksHistory editIt became known in the late 1990s and early 2000s for its advertising including sponsoring its own channel on Sky TV 1 and its advertising became widely parodied 2 The firm prospered on the back of rising house prices and the credit boom By 2002 the firm was a leading player in the UK s secured loan market valued at over 14bn 3 The firm was bought by US insurance company American International Group AIG in 2006 for over 200m 4 5 Paul Newey stepped down as chief executive in 2009 6 Ocean Finance was the shirt sponsor of Tamworth F C from 2004 2009 7 In 2008 it launched the UK s first TV channel dedicated to promoting loans and mortgages 8 Like many other mortgage businesses it struggled after the 2008 global credit crunch The Ocean Finance brand was acquired 9 by Think Money Group in 2012 In 2014 the company launched the Ocean Credit Card in conjunction with Capital One 10 Criticisms editIn 2004 the firm was criticized by some for its focus on offering second charge secured loans to sub prime customers often used for debt consolidation 11 References edit Ocean Finance launches dedicated TV channel Brand Republic Retrieved 2015 10 15 A Look Back At The 00s Glo fi And The Sadness Of The Advertised Man The Quietus Retrieved 10 March 2016 Secured lending rises 37 in a year theguardian com Retrieved 10 March 2016 AIG buys UK lender Ocean Finance BBC News Online 2006 11 17 Retrieved 2015 10 15 Newey s gamble on Ocean pays off The Daily Telegraph Retrieved 2015 11 03 Rich List 2013 No 28 Paul Newey 230m Birmingham Post Retrieved 2015 11 03 Lambs Ocean link continues Tamworth F C Retrieved 10 March 2016 Ocean Finance launches Loan TV Broadcast magazine Retrieved 18 March 2016 EXCLUSIVE Think Money buys Ocean Finance Mortgage Introducer Retrieved 2015 10 15 Product launches of the week Your Money Retrieved 2015 10 15 Ringshaw Grant Pioneer of controversial loans to net 250m from Ocean Finance sale The Daily Telegraph Retrieved 18 March 2016 External links editOcean Finance website Think Money Group Retrieved from https en wikipedia org w index php title Ocean Finance amp oldid 1179634596, wikipedia, wiki, book, books, library,
