• Loans up to £25,000
  • Tenants & Homeowners
  • Use for any purpose
  • Less than perfect credit
  • Free enquiry service
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Lender Snapshot

Provide loans from £500 to £25,000 for people with excellent to slightly impaired credit histories. The rate offered depends on your credit history, but applying won’t harm your credit score. It is possible that their rates may beat those of high street lenders.

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  • Fast, FREE enquiry service
  • Multiple Lenders
  • Get 2-3 loan offers (in principle) typically
  • Same Deals as going Direct
  • Save precious time

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RateSetter Loans: Loan Summary

Representative APR Loan Term (months) Loan Amount (£) Instant decision E-signature available
7.6% 6 – 60 500 – 25,000
Representative Example: Borrow £2000 for 36 months. Repay £62.24 each month. Total interest of £237.24 and a £3 fee. Total repayable £2240.72. Representative APR 7.6% fixed.

Lender Summary

RateSetter is one of the so-called peer-to-peer lenders (they act as a matching service for people wanting to borrow direct from others wanting to lend). They were started in 2009 after the principle of matched lending had been proven by others. Their total lending exceeds £1bn and they are second only to Zopa in size – with the gap closing. Their lending model has two key elements:

  • an initial “soft search” of your credit file (doesn’t damage your credit score) allows RateSetter to provide a tailored loan quote
    • rates vary from 3.3% (prime) to 40% (near prime)
  • they are not a bank – the internet service matches your borrowing needs to those individuals wishing to lend.

Basic Lending Criteria and Other Features

  • Age: 21+
  • Minimum gross income £12,000 p.a.
  • Residential Status:
    • homeowner or tenants OK
    • must be UK resident for a minimum of 3 years
  • No early repayment charges
  • The soft search quotation process does not harm your credit score – apply at no risk and at no cost
  • Money can be in your bank account within 1 working day
  • Rates offered can be lower than high street banks

An Introduction to RateSetter

User Ratings & Reviews

RateSetter has not been reviewed on Solution Loans yet – be the first.

Across ReviewCentre and Trustpilot RateSetter is scoring an average of 5 out of 5 stars.

Our opinion

With peer to peer lending becoming an increasingly popular way of borrowing unsecured loans it is great to see proper compeition between companies in this market. With RateSetter and Zopa tussling for leadership it is driving innovation and helping to keep rates truly competitive. Although our direct experience of RateSetter is limited at the moment we believe that you should consider them as a serious option so long as your credit history is at least reasonable.

Regulatory Information

  • RateSetter is a trading style of Retail Money Market Ltd who is registered in England and Wales, number 7075792. Registered Address: 55 Bishopsgate, London, EC2N 3AS.
  • Data Protection – registered with the Information Commissioner’s Office, number Z2083390.
  • Authorised and regulated by the Financial Conduct Authority. Reference number 633741.

Personal Loans

If you’re uncertain which type of credit might suit you or you have a money problem then one of guides may help you. We summarise each type of loan and their pros and cons, and address issues regarding debt and credit ratings.


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For over a decade Solution Loans has helped people all over the UK find solutions to their personal finance problems.



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Our reputation is great. In fact we have scored 4.7 out of 5 based on 423 ratings & 61 user reviews for our personal loans service.


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Written/Reviewed by: Amanda Gillam

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