RateSetter: Loans reviews

4.91
Based on 8,421 reviews, last reviewed 6th Jan 2023
No new 5 star reviews
in the past 90 days
No new 1 star reviews
in the past 90 days
See only 5 star reviews
92%
See only 4 star reviews
7%
See only 3 star reviews
1%
See only 2 star reviews
0%
See only 1 star reviews
0%

Latest highest rating: 5

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 th... Read more Reviewed on: 6th January 2023
J Emmerson's avatar
J Emmerson

Latest lowest rating: 1

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... Read more Reviewed on: 31st October 2022
Claire's avatar
Claire

About the Loans

RateSetter lending reviews on Smart Money People help people like you thinking about what life is like as a RateSetter customer to find this out. What is customer service like? Is the online experience quick and simple? You can find this out by reading our RateSetter lending reviews. If you are a RateSetter customer, you can also write your review today!

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RateSetter Loans reviews (8421)

Superb rate and easy to use

5
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
J Emmerson's avatar
J Emmerson

Failed loan application

1
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
Claire's avatar
Claire

The Financial Ombudsman have upheld multiple complaint about this firm

1
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

Loan

1
Staff were disbelieving and make me feel like a criminal, told me lies, worst financial institution I have ever used poorly trained staff, poor service Reviewed on: 7th August 2022

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