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RateSetter: Loans reviews

Name: Loans
Rating: 4.93 (14022 reviews)

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4.93

Based on 14,022 reviews, last reviewed 1st Sep 2025

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

94%

Latest highest rating:

5

Excellent customer service from the staff no problem... Excellent customer service from the staff no problems with the company ***** very polite and understanding Reviewed on: 1st September 2025

Latest lowest rating:

2

Not so helpful After a breach of data protection on there part they are very unhelpful and unwilling to provide the information Im entitled to Reviewed on: 26th July 2023

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About this product

RateSetter are no longer accepting loan applications since being acquired by Metro Bank in 2020.

Existing loan customers can still manage their loan via the online portal.

RateSetter loan reviews help you find out what it’s really like to be a customer. If you’ve used RateSetter before, you can also leave a review and share your experience.

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RateSetter Loans reviews (14022)

Clear application process and account management

Very straightforward application process with all costs and interest clearly communicated. The whole thing was processed very quickly and at a very competitive rate. Amount outstanding and options to manage the loan are easily viewable using the online account. Reviewed on: 9th March 2023

Quick and easy

Ease of application and rate of credit brilliant Reviewed on: 9th March 2023

Took a loan twice, No issues

I have used their service twice takich loans and I have nothing but position things to say about Ratesetter. Its quick, easy and everything you’d want from a service like this! Reviewed on: 5th March 2023

Excellent they give want you want

Very good clear instructions easy to get want you want and fully explained of your needs from application of your loann Reviewed on: 4th March 2023

Absolute Clarity

I was sceptical about relying on an app to obtain a loan but the process was so straightforward. I loved being able to see, immediately and on demand, where I was up to with my account at any time. It’s reassuring to know that there is a human customer service team there to call on but the fact is I never needed them. Great service, great rates too. It all feels really secure. I am converted. Reviewed on: 4th March 2023

Fast easy application

Application done in minutes thanks, I’m looking forward to getting a new bathroom! Reviewed on: 3rd March 2023

Quick and easy.

A good service. It took a little while to change my payment date despite requesting in the appropriate time window. Otherwise ok. Reviewed on: 22nd February 2023

Superb rate and easy to use

This is my first encounter with Ratesetter. The initial application was straight forward, once agreed the money arrived promptly. The great part is that you can see everything about the loan in the online portal. How much you owe, when your payments are due, how much you have paid and all of your rates etc. Very good company I would say! Reviewed on: 6th January 2023

Failed loan application

Applied for a loan with RateSetter, the loan was accepted but when I went to sign the loan agreement there was an error. When I contacted help/support I was told that there was nothing they could do, I needed to cancel my application & apply for the loan again. With the knowledge that the rate will have changed & it will include an additional credit search. Reviewed on: 31st October 2022

The Financial Ombudsman have upheld multiple complaint about this firm

How surprising, given the high number of complaints about this firm (look for Retail Money Market Limited on the Financial Ombudsman Website) that there are SOOOO many super positive reviews....On another note, back in 2014 The FCA was warning that some P2P platforms were manipulating reviews on review sites. This is a bad review, it's also genuine. Ratesetter is a terrible business model, and is terrible to do business with. The P2P scandal is widely covered now in multiple court cases and forums, I appreciate that the first thing that will happen after this review is posted is that the Smart Money People will get an email from Ratesetter Legal telling them to take down my review, it's happened on other review sites, but I can back up this bad and truthful review with plenty of evidence. What Metrobank were doing buying this firm in a six week negotiation during lock down, and what due diligence they did is one question I would ask. There will be many more questions asked as The FCA whistleblower case of relating to P2P rumbles on. But to quote directly from that, P2P had 'Ponzi Like" practises... Those guys are still in charge - don't believe the hype Reviewed on: 10th August 2022

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