written by Robster500 on 07/04/2019
Ratesetter from an investors viewpoint. I have invested with multiple peer to peer lending sites, and I have to say Ratesetter sits proudly at number one spot on my list. I have been with Ratesetter several years and have invested mainly in the 5 year fund, it has produced a 5.5% return so far which I am very happy with. The substantial provision fund also provides peace of mind. As an added bonus Ratesetter offers a great referral scheme, if you invest £1000 for a year you will receive a very impressive £100 bonus if you abide by Ratesetter's terms and conditions.
written by Kaygisiz on 27/03/2017
I had ratesetter account and not been using much since couple months ago. I start transfer money to rate setter and I invest total of £22,500. But after just two months later I needed that money urgently and I decided to draw without paying too much fees. And I was checking the withdrawal options regularly to see the rates and the best time I can sell all my investment with maybe a little loss. Finally I found A day that market rate was 4.1% and my loan rate is 5% so if I can sell my loan I don't have to pay too much fees because my rate is higher than market rate on the time. So I went to sell-out option and see that I will be charged only £41 and it was very reasonable and I review on the second page if everything okay and I submit sellout . After two days I receive my money and I so that I have been charged £290 rather than £41. I immediately called rate setter after waiting on the phone 15 minutes manage to speak someone. First 15 minutes I tried to explain him what happens why I my money is not been transferred completely. Finally the guy understand what I am talking about and she said that I have very strong cheese because what happened. So he officially launch complaint procedures and told me that someone will contact me next couple days and did. The guy told me that they will we'll found screenshot on my sell-out and they will understand what happened so I said that's fair enough and I wait another week to week and he sent me another email saying they can't technically screenshot of my sell-out thought that's why they can't refund my money back for go he sent me another email saying they can't technically get screenshot of my sell-out thought that's why they can't refund my money back but they can only pay me £75 but they can only pay me £75. So because of right-centre IT fully fault I had to lose £215 which I didn't even made with my investment in two months so that's why I don't suggest anyone to invest rate setter until They sort out their IT problems. So be aware it's clearly designed to take people's money.
written by hotcolin on 07/01/2015
Changed my bank details back in Nov 2014, they are still trying to take from my old bank leaving me with £35 charges a time after speaking and emailing them 7 times! Maybe the worst service in the banking industry!!
written by AJ46 on 23/12/2014
I call the helpline with an enquiry, the first gentleman was completely uninterested and unhelpful from which i gained no information. Not to be put off i called again, this time a pleasant lady answered but couldn't navigate the web site-i had to show her from my laptop!! extremely poor service! i won't be investing
written by matlock on 03/10/2014
Ratesetter have serious problems with their website and the help line is useless. I tried to open an account in my name. This ended with the computer unable to confirm my id. The computer told me to call the help line. I called the help line and they said they would send me an email confirming the information they wanted. Some days passed and no email arrived. I then tried to open and account in my wifes name. The website refused to accept the application because it claimed already to have an account for my wifes email. The website had mistaken my email as being the same as my wifes email because we have the same domain name. We have different emails but on the same domain name. The Ratesetter website was not able to identify the two email addresses as being different people because we had the same domain name. I then tried to call the help line again and only got a message inviting me to leave a message. If I am getting this now when I have a choice to walk away what am I going to get later.
Written on: 23/12/2014
I called the help line, the first man was quite rude and uninterested in my enquiry, he put the phone down. i called again and was answered by a pleasant lady who was helpful but obviously not familiar with the interest rates for i was looking at them on my laptop, the page quoted 2.8% monthly but she insisted that it was only 2.5% annualized-i had to show her how to navigate her own site!! Poor Service -could do better!
Written on: 01/06/2015
OMG! How mature is this institution? This kind of technical niggle is really off putting!
written by dazam on 11/04/2014
I asked for a loan of £8500 and was shocked when I was quoted a £1000 fee and 12% apr after applying. Thankfully I was refused and managed to get the same loan at 4.9% and fee free with my bank and the money in my account within 24 hours, will not be trying p2p lenders again.
Written on: 06/04/2016
This is very true of this company I had loan and money invested with them they refused a extra loan. So took my money out. I was not going to allow them to make money lending my money if they can't help me when I ask
written by on 31/01/2014
A very quick, professional, simple & efficient way of getting a loan. Great staff with friendly , helpful advice. Could not ask for more..........Brilliant.
written by on 14/01/2014
The whole process from start to finish was fantastic. I received an excellent service with a great rate. I will definately be recommending ratesetter to friends and family
written by on 13/01/2014
When emergencies arise (like my irreparable bolero) its was great to discover Ratesetter, Simple to use, highly efficient response. Great manner and attitude of staff and a price that was right.
written by on 12/01/2014
The loan was easy to arrange, and following a quick phone conversation was in my account almost immediately. It was also easy to settle the loan a few months later without any fuss or hassle. No problems at all throughout the whole process, so I could definitely recommend and would use again.
written by on 02/01/2014
I used Ratesetter for a car loan and the service was fantatstic. I love the fact that individuals are being rewarded rather than Banks in terms of a return for their savings. The application process was simple and the loan was approved within 24 hrs after a short call to verify a few details. Keep up the good work !
written by on 30/12/2013
Was recommended to this site by Experian Credit Expert as I was concerned that a refusal would affect my credit rating - although I have a high rating of 999 with Experian I am very careful on these issues. I fully understand that the interest rate goes down the more you borrow, so I was pleased to get agreement on a small loan at such a competitive rate. Very simple procedure to follow with a decision in minutes and transfer of funds to my account within 24 hours so I can get down quickly to the garage and haggle about car prices !!!
written by on 14/12/2013
Fast, easy and a good rate. Why are they not all like this. No long waits for calls ect... Zero to complain about, not the usual financial service. For the first time ever, i recommend this financial service.
written by on 13/12/2013
I found this loan on line on a compare site. It was very quick and simple to apply and the loan was approved immediately. I am extremely happy with the loan amount, the monthly repayments and the overall interest that was included. I would strongly recommend to others.
written by manchesterred33 on 11/12/2013
Ok I have 4 loans one big one and 2 small ones. I seem to have went backwards. When I didn't need a loan I was being offered the best rates available. I bought a buy to let home which drained me of money and found myself needing a loan to finish it off. AGRGHH Now all of a sudden I can only qualify for silly rates, even with the companies I had loans with already and never missed a payment and have a very high credit score. Then Ratesetter, who I had one loan with already, found out through an aggregator I was looking to take out a loan. 24 hrs later with a good APR I had the money in my account. I would never go anywhere else for a loan ever again. And have even considered asking Ratesetter if consolodating my other loans and having just one big one with them would be financially viable. I didn't get a cuddly toy and I recieved no M&S vouchers. What I did get was a quick easy ,value for money loan. Thanks Guys CXhris Berry
written by Sentaiwarrior on 10/12/2013
I found RateSetter through the usual price comparison websites. The process was very simple and took minutes to complete. There is also a very handy upfront soft credit check which lets you know the likelihood of being accepted without recording a hard search on your credit file. This is a very good feature and played an important role in my selecting RateSetter to borrow from. If there is one aspect that could have been better, I would have preferred my actual interest rate to be close to the representative rate especially as I have what I consider to be a very good credit rating. Overall though RateSetter is very good and I would use it again and recommend to family and friends.
written by MFOW on 05/12/2013
Loan application was simple and straightforward. No fuss.
written by on 05/12/2013
I have to say this is the first time I have ever used this company and I have received excellent service. It was all completed quickly and painlessly. Thank you
written by on 29/11/2013
Its a long time since I have received service of this standard from any business such as this! Clearly they both, wanted to help as well as wanting the business. They even rang me back when they said they would and showed a willingness and patience to answer the questions that I asked even though some were repeated. What was to like about the service that I received? Everything! What was there to dislike? Try as I might, there was absolutely nothing that I could think to dislike!
written by on 26/11/2013
What a service, it's taken 4 hours to apply and be accepted for the loan, this was after being rejected by a high street bank....who might I add, offered a higher rate of interest!!! Made up!! Thank you rate setter, I'm now £500 a month better off!!
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As rated by our community of reviewers
Aaj123's Response to hotcolin's Review
Written on: 01/06/2015
This puts me right off investing with Ratesetter!