Peer to peer lending - great savings rates

6.0% *5 Year Income market

Welcome to RateSetter, the UK’s leading peer to peer lending site, offering personal finance that is a better way to save and borrow, peer to peer.

Traditionally, most of us have kept our money with our bank, who lend our savings to other people, making and keeping for themselves a sizeable profit at our expense, but there is another way. With P2P Lending at RateSetter, you have more control over your money, allowing you to lend to prospective borrowers direct, at a rate agreed by you.

RateSetter is not a bank, and as such, we do not lend money ourselves. Instead, we work to provide you with a peer to peer lending platform that connects lenders with those looking to borrow, allowing you to lend your money to borrowers directly, in a safe, regulated environment.

With RateSetter you are in the driving seat. With us, you decide how much you want to lend and the rate of interest that you would like to lend it at. Once you have decided on these, your offer can be matched by borrowers who would be happy with the rate you have set. This means, finding a suitable borrower is far quicker than most other peer to peer lending providers.

Just as any high street bank would, we rigorously check the credentials of our borrowers and lenders, ensuring that they are both who they say they are, and have the required creditworthiness for you to lend to. All of this is done by us behind the scenes, with our team completing all the necessary checks and paperwork so that you don’t have to, for a small administration fee that we charge to both our lenders and borrowers.

We have very low levels of default, and if someone does make a late payment on their Loan, we have the added protection of our unique Provision Fund, which shields the Saver from the risk of bad debt.

All rates on RateSetter are agreed between the borrowers and lenders in a transparent exchange market. You can see the rates available and accept the best one or ask for a better rate. On average our 36 month loans have returned 7.9% to Savers, whilst our Rolling Monthly Loan has returned an inflation-beating 4.0%.

Peer 2 peer lending is by no means new, but how we work is. Our matching process, variable rate loan and provision fund have all be designed to make it faster, easier and safer to match our lenders with appropriate borrowers, making it easier than ever before to get started with peer to peer lending.

To find out how we can help get your money working harder for you with peer to peer lending please get in touch, either by phone, e-mail or using the contact form found on our site, where one of our team will be on hand to give you everything you need to start out in the world of lending money online.