Also known as: RateSetter
RateSetter was a peer-to-peer lending platform that matched individuals who wanted to lend money with individuals and businesses who wanted to borrow. It was one of the UK's largest peer-to-peer lenders and allowed savers to earn interest by lending their money out.
RateSetter was acquired by Metro Bank in 2020. Following the acquisition, Metro Bank wound down the peer-to-peer lending marketplace and stopped accepting new deposits from lenders or new loan applications from borrowers. The wind-down process involved repaying existing investors over time as loan repayments came in.
If you were a RateSetter investor, you should have received communications about the wind-down process and the return of your funds. If you are still waiting for a return of funds or have queries about your RateSetter investment, the ratesetter.com website displays wind-down information and contact details for the relevant team.
If you were a borrower who took out a loan through RateSetter, your loan terms remain in place and repayments continue to be due. The wind-down of the investor side does not affect your borrower obligations. Contact details for borrower queries should be on your loan agreement.
Free debt advice is available from StepChange on 0800 138 1111, National Debtline on 0808 808 4000, or Citizens Advice if you are struggling with a RateSetter loan repayment.
Quick summary
Always verify this information directly with the company, the FCA Register and Companies House before relying on it.
These are general questions that may be relevant to your situation. They are not personalised advice.
Always use contact details from Metro Bank PLC (RateSetter division)’s official website ↗ or the FCA Register — not from unexpected letters or messages.
Main products and services
Formerly: peer-to-peer personal loans (Retail Money Market Ltd, 2010–2020); then Metro Bank-funded personal loans under RateSetter brand (2020–2023); vehicle finance loan briefly launched January 2023; RateSetter fixed-term savings product briefly available September 2023 via Hargreaves Lansdown. All now wound down.
Trading names and group notes
Metro Bank PLC continues to operate as a standalone bank. The RateSetter brand is defunct. This record documents the wind-down for historical completeness.Review scores are third-party public indicators only. They are not proof of FCA compliance, product quality, or suitability for your circumstances.
Trustpilot
Not applicable (brand wound down)
Not applicable reviews
Not applicable
Not applicable reviews
App Store
Not applicable
Google Play
Not applicable
Other review sources
Not applicable
Overall public sentiment
Brand is defunct as of late 2023/2024. No current customer-facing service under RateSetter name.
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Source URLs used in preparing this record
Date checked
2026-06-05
Next review due
Periodic review
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