From October 2020, Metro Bank is funding all RateSetter’s new consumer lending. Keep up the good work !… So Thankyou for everything. Very comprehensive but surprisingly quick and helpful with decision making. You can then accept the best interest rate available. Quick decision and funds credited swiftly. The fact of the matter is that there never were and never will be guarantees that you could withdraw your money always and instantly. Straightforward, but thorough application process, quick decision, and funds made available promptly. © 2021 Trustpilot A/S. Only the latest review will count in the company's TrustScore. Check out what 6,825 people have written so far, and share your own experience. Use the tools below to refine your search by only displaying reviews with a certain number of star ratings or to only show reviews from a certain time period. More 5-star reviews than any other consumer lender. RateSetter will email you in one working day to confirm your eligibility for a loan and how much you can borrow. RateSetter has 5 stars! Only the latest review will count in the company's TrustScore. It took me 8 months to get my money from "Access" but in that time I had managed to received almost half of it back using this method. Share. Authorised and regulated by the Financial Conduct Authority (Ref. As a peer-to-peer platform, RateSetter connects investors and . Due to the pandemic i lost my job i went through hell with finances but Ratesetter went above and beyond. | Read 2,681-2,700 Reviews out of 6,825 Over 18s only. No charges hidden. RateSetter is NOT an instant access account or current account. The UK business was acquired by Metro Bank in September 2020. You can finance your phone purchases with a loan and spread its cost over 6, 12, 18 or 24 months. Once you have accepted the loan, RateSetter will send you the money the next working day. Over 750,000 customers have chosen RateSetter for its dedication to delivering market-leading products and services to investors and borrowers. They haven't issued a single loan for 6 months, and investors haven't been repayed. It mostly targets borrowers in the prime lending space. Refine your search. RateSetter (AKA Retail Money Market Ltd) is one of the largest and oldest Peer to Peer lending platforms around today. Quick , easy loan application Really pleased with service Loan approved within 24 hours. I recommend. When asked no approximate timescales were given by customer service. At first, I did not know your company. RateSetter will send you the money. | Read 221-240 Reviews out of 6,376 Ratesetter states it lends to prime borrowers with a lower risk of default. No other ISA provider is going to be willing to accept a transfer that includes Ratesetter P2P loans (unlike say a S&S ISA where investments can be transferred without selling them). It was fine at first, but they have slashed interest rates and are refusing to release money despite claims to have a vast fund to cover loans. Last week we saw two important milestones in RateSetter’s history – we passed six months in business and £3m in loans matched, and it felt like the moment to take our eyes off the screens for a bit and share a lot more with our members, answer some of your regular questions, and contribute a bit to the various debates on P2P finance. i think they are paying for the 5 year requests first (as they get some fees from it), than access account. Address information Peer-to-peer lending sites put savers with money to lend in touch with individuals or small businesses that need to borrow. RateSetter's bad-debt provision fund covers losses that it can't recover from borrowers. These are manufactured reviews or bots, either of which indicates that this is a fraudulent company. So I asked for a rough estimate of how long that is currently taking . Read about their experiences and share your own! Existing customers are continuing to fund the existing loan … Cracking service and so easy to organise. © RateSetter 2010 - 2021. Applied online and next working day the monkey was in my bank account. After looking on a comparison website Ratesetter came in the top 3 recommended for the reason I needed a loan. You've already flagged this ... Great loan company - a smooth and fast process Great rate, really easy to apply and it was in my account in less than 24 hours after signing the document digitally. RateSetter is a trading name for Retail Money Market Limited (company no. Share . Also strange how the majority of them only have one or two reviews to their name. Yes, as RateSetter is an online loan company, you will need a bank account to be able to apply . Bad credit histories are OK and non-homeowners are welcome too. They offer a hands-off investment experience through their auto-invest portfolios, unfortunately now with lower returns between 1% – 2%. I used Ratesetter for a car loan and the service was fantatstic. I found the process of applying with rate setter very easy- I was offered the best rate between 3 providers.The cost of the loan was clear with no pressure to complete.Will recommend. Ratesetter offered 2.90%. Easy, quick and safe what can I say I didn't think it would be stress free.Thank you. I appreciate situations can change, liquidity changes, etc etc, but just a very rough example of what the situation currently is. | Read 1,001-1,020 Reviews out of 6,986 Reply. When I did want to speak to someone, it was no problem and they explained everything clearly. Don't invest here. Getting my first loan had never been easier, speedy service with simple instructions to follow and of course a very low interest rate that I just can not resist. I suspect this company will collapse and with no FCSC protection you'll lose all your money. | 5,580 people have already reviewed RateSetter. Would recommend. RateSetter review: how good are its loans? RateSetter for personal loans up to £25,000. Very impressed. I don’t give 5 stars because it took a while get my loan. Check out what 6,376 people have written so far, and share your own experience. Had heard good things about RateSetter and thought they would be a good company to obtain a loan in order to help towards the final expenses of our wedding in 29 days, as it is I will be lucky to have a decision in time nevermind funds if approved. £75k invested in Ratesetter (as your only P2P exposure) could be ok, if you are an experienced investor and have other investments valued at £1.5 million or more and have a high risk tolerance. Check out what 6,407 people have written so far, and share your own experience. I have had 3 loans and a very quick process as money in the bank within 24 hours. They refused to answer the question and werent able to say if it was closer to 2 days or 2 years. Experian led me to them. Very competitive rate. RateSetter is an award-winning provider of consumer loans offering speed, value and service. Being able to settle the loan earlier is a plus too! I can highly recommend Ratesetter for loans. That afternoon I got the loan. Do you agree with RateSetter’s star rating? I love the fact that individuals are being rewarded rather than Banks in terms of a return for their savings. You are great, quick, cheapest and also real.My bank did not facilitate me with loans at the moments. All sorted in less than 10 minutes. It throws in a good measure of borrowers from further up the risk scale. GB. Ratesetter Loans UK may say that it’s a good idea to roll over the loan, however, this is definitely a bad idea. The minimum age to be able to apply for a loan with RateSetter is 21 years of age. The application was quick and easy and I found out my decision quickly. Do you agree with RateSetter’s star rating? No fuss. Thank you, Very Easy process and no hustle, very positive experience, Easy online Took 5 mins to fill in questionsGot an answer right awayMoney in my bank account within 48hours, Really cost effective loan and very efficient service. i am writing another review for ratesetter, they do pay. RateSetter | 12,503 followers on LinkedIn. I was very impressed. Useful. Strange how they have only got around to doing it today. How glad I am. They gave me 3 months breathing space as well as calling in between to see if i still needed any support. Thank you, very efficient and very reasonable! Was interested in opening an account as an investor. So far so good. Check out what 5,580 people have written so far, and share your own experience. I have used Ratesetter before. Very quick to respond easy to complete from start to acceptance and funds in my bank, Easy application process and answer within minutes, would recommend anytime. Low personalised rates.Get a personal loan, car loan and green loan that rewards your good credit with even better rates.. It came up with loads of options from loans company with variations of interest rates offered. Do you agree with RateSetter’s star rating? my 5 year account was paid in 3 weeks but the Access account seem to take forever. Super easy, super helpful and an excellent rate. Ratesetter loan Quick and easy very helpful Useful. To be eligible to apply for a loan you must fit the following criteria: Age. Highly recommended.The whole process was seamless and faster than what I have had in the past. Plenti says it will provide an estimate of all the fees and charges that may apply to the loan when you request a RateEstimate (which is an initial assessment of your eligibility for a loan). © 2021 Trustpilot A/S. Plenti says it does not charge any fees for making extra payments or repaying your loan early. Easy to apply, no nonsense , very helpful and straightforward. It's impossible therefore for them to have positive reviews. Unbeatable interest rate and fees. The peer-to-peer lender Ratesetter has been hit by £80m of struggling loans in the first major setback for the nascent online lending sector. Technology-led personal loan and car loan lender RateSetter has rebranded to ‘Plenti.’ For five years, RateSetter assisted 80,000 households by offering a range of competitive loan options. Money arrived when it was supposed to. Everything is easy, simple and efficient. Loans are subject to status and affordability, the rate and fee you pay will depend on your credit profile. Loans are subject to status and affordability, the rate and fee you pay will depend on your credit profile. Investing. | Read 3,881-3,900 Reviews out of 7,021 RateSetter is a trading name of Retail Money Market Ltd (Company No. should speedup hopefully soon. Simply amazing! Next days, you accepted my loans and sent it to my account. Many consider Ratesetter to be boring since investment options are basic however in the investment world, … RateSetter is part of Metro Bank, but everything to do with your loan will be managed through us. I searched money supermarket to get the cheapest loan. If you do roll the loan over, you cannot do this more than twice. | Read 361-380 Reviews out of 6,407 Thank you. Award-Winning Loans.Canstar Outstanding Value award winner for personal loans (2015-2019) and new and used car loans (2019). A loan tailored to you Whether you are looking for a personal loan to tidy up your finances, buy a car or carry out some home improvements, we believe that you deserve a price that is carefully personalised for you. With £4bn lent, Ratesetter’s low default rates and £750m loan book made them a good peer to peer lending option since daily borrower repayments provide constant liquidity during normal economic conditions. RateSetter's actual bad debt rate for the 2008 cohort of loans was 2.8 per cent. I highly recommend rate setter for anyone looking to take out a personal loan. In a terrible recession or other shock, RateSetter's bad-debt provision fund could theoretically be used up. The Apr and monthly fee quoted was the same after I applied for a loan whereas another company's Apr rate changed which was a pain after having to fill out a form. That makes me very suspicious about ever getting your money back, so Id certainly approach this company with caution. 7075792) and our registered office is at 6th Floor, 55 Bishopsgate, London EC2N 3AS. The application process was simple and the loan was approved within 24 hrs after a short call to verify a few details. I am happy with the service. RateSetter is a British peer-to-peer lending company based in London, founded in 2009 and trading in the United Kingdom and through a locally-owned and run business in Australia. Quick, easy, minimal questions, positive response with money in my account fuss free. The RateSetter is a Peer-to-Peer finance company, which essentially means that instead of borrowing from a bank, you can borrow from ordinary Savers and investors for a lower APR. | Read 2,141-2,160 Reviews out of 6,517 The business primarily originates unsecured personal loans, and also arranges secured auto dealer financing and property financing. Not great ♀️. Do you agree with RateSetter’s 4-star rating? Do you agree with RateSetter’s star rating? Ask our helpful community of experts about this product or company RateSetter Loans - Ask a question now. They have good rates and are very easy to deal with. I made a phone call and I was told that the underwriters were looking at my credit score. This has been mentioned before but if you are in the queue to get your money back set your reinvestment rate to 8% or similar, you will then be able to withdraw the money as and when it matures often on a daily basis. The company is known for having introduced into peer-to-peer lending the concept of a "provision fund" – an internal fund which aims to help lenders manage … I have chosen you with very lowest rates, 2.8% APR for 2 years, followed up to fill applications. Over 750,000 customers have chosen RateSetter for our dedication to delivering market-leading products and services to investors and borrowers. RateSetter is a trading name of Retail Money Market Ltd (Company No. 7075792) and our offices are at 55 Bishopsgate, London, EC2N 3AS. Do you agree with RateSetter’s 4-star rating? LOW RATE LOANS. Borrowing. Now, the new ‘Plenti’ aims to help many more. You've already flagged this Kashif Akram 1 review. All rights reserved. Would definitely recommend. Check out what 7,021 people have written so far, and share your own experience. All rights reserved. The individuals i have had contact with throughout have been amazing in everyway. Apply now! Spoke to someone to restart my payments, the guy I spoke too sounded like he just couldn’t be bothered and was abit off hand with me. I usually have a lot of trouble using the internet but this was easy and so glad to get the loan when I really needed it to help me out. Reply. I have a good rate, by the way. All rights reserved. Check out what 6,517 people have written so far, and share your own experience. The reason is that you will end up being charged more interest, as well as charges, which will plunge you into deeper debt. RateSetter will match you with a lender. Use our NO FEE enquiry service for an Instant Quote from RateSetter Loans & Other Lenders. RateSetter is a peer-to-peer lending website that allows its users to lend and borrow money directly from each other according to their own interest rates. Just a note to say that Ratesetter have not accepted any new loans for over half a year, so all of the reviews saying how 'efficient / helpful / superb with money in my account fuss free' must be by people who have collective amnesia and forgot to write reviews when they actually used the company 7 months ago. This company must really be that great! They have been claiming to be actioning withdrawal requests made on 16th march for months with no evidence of progress. Contacted them as their homepage showed "Also, the time it is taking investors to access their funds is taking longer than usual.". I am withdrawing whatever I can manually every day to try and recover my money before it collapses.I also had to chase them multiple for the joining bonuses I was owed.I have flagged the multiple 5* reviews that ratesetter have had recently. Check out what 6,986 people have written so far, and share your own experience. Really impressed with the ease of applying, communication, ability to change dd date, and the interest rate. 7075792) and our registered office is at 6th Floor, 55 Bishopsgate, London EC2N 3AS. Now 5 months later they still called to see if i needed my payment date changed for this month or if i needed any support. Fantastic and quick service. Compare loans and lenders and decide if RateSetter is right for you. I would recommend them. The number of recent negative reviews of RateSetter is quite astonishing and unjustified. 722768). RateSetter's standards are reassuring for all types of lending. Very happy, Excellent fast service with no hassle very good apr, Great. It accepts a wide range of personal borrowers, but every borrower needs to show that they can afford the loans. It was easy to fill in everything. Before I applied, I contacted Barclays (where I have my bank account) and they offered me a loan 16% interest rate. I never normally write reviews but this company has helped me soo much in the last few months. For example, Plenti says you may incur fees for missed repayments as outlined in your loan contract. Honestly really put a smile on my face with how supportive they have been. Very quick and easy application process with clear information throughout each section - a much lower interest rate that my bank of over 51 years was able to offer. I searched money supermarket to get the cheapest loan of 6,986 RateSetter has stars... In touch with individuals or small businesses that need to borrow it to. 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