Business Details
16 Years
experience
Award-Winning Personal Loans in London
Established in 2010, RateSetter has built a reputation as a trusted UK peer-to-peer lending platform, later evolving into a specialist personal loan provider under Metro Bank ownership since 2020. Our decade-long expertise in lending, having facilitated over 4 billion in loans, is complemented by our commitment to exceptional customer service and regulatory compliance through FCA authorisation. As part of Metro Bank, we maintain our focus on innovation while upholding rigorous financial standards, evidenced by our Queen's Award for Enterprise in 2019.Our dedicated UK-based team ensures borrowers receive tailored support, with all operations conducted under stringent Prudential Regulation Authority oversight. We prioritise transparency in lending practices, offering market-leading products while maintaining membership in the Finance & Leasing Association to uphold industry best practices.
Services
Personal Loans
Peer-to-Peer Lending
Savings Products
Hire-Purchase Finance
Customer Support Services
Details
- Year established: 2010
Highlights and features
- Over a decade of lending expertise with 4 billion+ lent
- FCA-authorised and PRA-regulated financial institution
- Dedicated UK-based customer service team available
- Part of Metro Bank's award-winning banking network
- Queen's Award for Enterprise recipient in 2019
Associations and certifications
- Financial Conduct Authority
- Prudential Regulation Authority
- Finance & Leasing Association
- Queen's Award for Enterprise 2019
What people say
Award-winning service
Dedicated UK team
FCA regulated
Transparent lending
Queen's Award winner
Services
Personal Loans
Market-leading personal loan products tailored to individual financial needs. Our lending solutions combine competitive rates with flexible repayment terms, supported by dedicated UK-based customer service. Loans remain subject to status and affordability assessments, with rates determined by applicants' credit profiles.
Peer-to-Peer Lending
Historical peer-to-peer lending platform connecting investors with borrowers. Operated from 2010 until portfolio acquisition by Metro Bank in 2020. Facilitated over 4 billion in loans through innovative marketplace model before transitioning to traditional lending structure.
Savings Products
Savings solutions available through partner platforms offering FSCS-protected deposits. Products distributed via intermediary providers maintain Metro Bank's financial security standards. Customers access accounts through partner platforms rather than direct RateSetter management.
Hire-Purchase Finance
Specialist vehicle financing products launched in 2023 under Metro Bank partnership. Digital hire-purchase options distributed through broker networks address growing UK automotive finance demand with competitive terms and streamlined application processes.
Customer Support
Dedicated UK-based support team managing loan account administration. Services include payment processing, account updates, and financial guidance through multiple contact channels. Maintains 4.9/5 customer satisfaction rating across digital and telephone support platforms.
People
Daniel Frumkin
Chief Executive Officer
As Metro Bank's CEO, Daniel leads strategic direction including RateSetter's integration. Brings extensive banking experience to develop community-focused financial solutions while maintaining regulatory excellence.
Richard Saulet
Managing Director, Consumer Finance
Oversees RateSetter's consumer finance operations, leveraging market-leading technology to expand product offerings. Focuses on innovative lending solutions that meet evolving customer needs within Metro Bank's framework.
Questions
Are personal loans still available through RateSetter?
We are no longer accepting new personal loan applications. Existing customers can manage accounts through our online portal.
Is my money safe with RateSetter savings?
Deposits are protected under the Financial Services Compensation Scheme (FSCS) through Metro Bank PLC.
What services does RateSetter currently offer?
We specialise in personal loans and savings products through partner platforms, with vehicle financing options available.
Is RateSetter regulated by financial authorities?
We operate under Financial Conduct Authority regulation and Prudential Regulation Authority oversight.
