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Paul Barker

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Review of the RateSetter, Loans:

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Simple and transparent loan process

For the right people, this is clearly an innovative and modern route to unsecured borrowing. Transparent at almost every level it has the feeling of being a secure platform for dealing in small to medium loans. Decisions are made quickly and the cost of the loan is clearly available. My only question mark relates to the way interest rates are assigned to your loan applications. One can access lots of information concerning the current market rates but it is not clear how a specific rate is chosen for your application. Presumably some calculation involving credit score and amount applied for is made. But you can take it or leave it and one feels in some control all the way through application. Communication is quick and easy and does not result in loads of spam as a result. And not having to sit though some junior clerk's reading of the key facts is a huge bonus. Reviewed on: 29th June 2017

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