Privacy Policy


Effect of these Terms & Conditions

Introduction and General Terms

RateSetter is committed to putting you in control of your privacy, whilst maintaining our primary responsibility to all members of RateSetter to ensure RateSetter is a secure platform on which to borrow and lend money.

These responsibilities extend to fraud, money laundering and other crime prevention; to careful credit assessment using manual and automated data collection; and to validating the identity of all users of RateSetter.

Our Privacy Policy outlines what data we collect and how we use it.

Our Cookies Policy outlines how we collect, store and use electronic data from your browser.

Why does RateSetter collect information about me?

A key responsibility for RateSetter is ensuring that we can positively identify every member, and our Registration screens capture data to validate your identity. If we cannot do so, then we reserve the right to request additional verification data before allowing a member to participate on RateSetter as either a Borrower or Lender.

Additionally we may also collect data about you for the purposes of statistical analysis, monitoring, site optimisation, product and site marketing, email marketing and Customer Relationship Management. These are governed by industry best practice opt-out procedures. For more information see “Will RateSetter use my information for marketing purposes?”

All the data that you submit to RateSetter is stored securely and is not directly accessible by third parties.

Lastly we use cookies for a variety of purposes including site tracking, statistical analysis, on and off site marketing and managing your account. For more information see our Cookies page.

How will RateSetter use the information they collect about me?

For Borrowers:
We collect information about Borrowers to allow us to make an informed credit decision before approving them to take out a loan. This data allows RateSetter to identify you via credit and other reference agencies, to prevent fraud and to validate the affordability of any loan or product that you select through RateSetter.

For Lenders:
We collect information about Lenders to allow us to positively identify you for the purposes of prevention of both fraud and money-laundering.

When will RateSetter contact me?

RateSetter reserves the right to contact all members for operational reasons concerning the management of their account by email, post or telephone.

RateSetter contacts applicant Borrowers as a matter of course to validate information pertaining to the approval of a loan, including regular emails regarding the progress of a loan during the course of an application. We will also contact Borrowers during the course of the repayment of a loan at regular intervals, and in the event of any missed or late payments.

RateSetter sends periodic updates about new products, services, content and information. Both Borrowers and Lenders can opt out of these communications at any time.

Will RateSetter share my personal information with a third party?

RateSetter does not sell, share or otherwise pass personal information to a third party without your consent.
The management of our business requires us to share and validate data with third parties such as credit reference, debt collection or law enforcement agencies. RateSetter reserves the right to change the nature and suppliers of that information and/or those services to ensure best practice. RateSetter keeps a log of any search, check or other validation of your data by a third party. Credit Reference Agencies reserve the right to record the check and validation of your account for their own operational purposes.

Loanbroker Assistance
We would however like to offer you the best service that we can. In the event that we are unable to offer you a loan with us, it may be possible to refer you to our decline partners, who may be able to assist you. Our partners are all free to use services which can search the loan market to find the best possible loan for your circumstances. If you do not want us to share your details with them, please untick the box on your SmartQuote application.

How long will RateSetter keep my personal information?

RateSetter reserves the right to hold your information in a dormant state for an unlimited term for the purposes of the prevention of fraud, identity theft or any other crime. If you request that your account is closed, RateSetter will not contact you for any other purpose other than to inform you of any potential fraud, identity theft of other criminal act affecting your personal information.

Can I see what information RateSetter holds about me?

Yes. Under the Data Protection Act, you have the right to view all the information RateSetter holds against you as a “Subject Access Request”. We will endeavour to provide that information to you within 28 days of a written request being made to RateSetter. A fee may be payable to service a Subject Access Request, about which we would inform you as part of the process.

Where is RateSetter based? Can I access RateSetter from outside the UK?

RateSetter’s Headquarters are in Southwark, London. RateSetter’s servers are provided by an independent hosting company, and reside in secure data facilities in the UK. RateSetter reserves the right to move such facilities and providers outside of the EU as it sees fit.

You can access and transact with RateSetter from in and out of the UK. The RateSetter service however is only available to resident tax payers of the United Kingdom. RateSetter reserves the right to make the RateSetter service available to residents of other countries as it sees fit.

What does RateSetter use cookies for?

RateSetter uses first and third party cookies throughout its website. To learn more, please visit our Cookies page.