Peer to peer loans

Peer to peer loans by RateSetter. Apply for a low cost, flexible P2P loan. Borrow peer to peer.

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Peer to Peer Loans
How do peer to peer loans work?
You choose the rates. We do the rest.
Peer to peer loan rates

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Low cost peer to peer loans from RateSetter

7.8% *representative APR

Peer to Peer Loans

Hello and welcome, you’ve reached the home of RateSetter, one of the UK’s leading providers of peer to peer loans, creating a better way to save and borrow, peer to peer. The vast majority of us have always kept our savings with our bank, who then use this to lend to their own customers, keeping the profit that these transactions generate for themselves. This no longer has to be the case, as there is an alternative way, and that way is P2P lending, working to bring lenders and borrowers together direct, rather than via a bank.

How do peer to peer loans work?

RateSetter is not a bank, and unlike a bank, we don’t lend money ourselves. Instead, we work to facilitate a platform with which lenders and credit-worthy borrowers are able to come together to offer peer to peer loans, at a rate of interest that is agreeable to both parties. This gives both lenders and borrowers much more freedom than they would otherwise have with a bank, all within a fully regulated environment. With us, you are always in the driving seat, having the ability as a lender to fully control the rate at which you lend your money to borrowers as peer to peer loans. After deciding the rate at which you would be prepared to lend your money at, we will then work to pair your offer with a borrower who is happy to take out a peer to peer loan at this rate, simplifying and speeding up the process of personal lending.

With RateSetter, you choose the rates. We do the rest.

Just like a high street bank, we carry out the same level of checks to ensure the credentials of both our lenders and borrowers before allowing any peer to peer loans to be made through our site. This ensures that you only lend to quality, credit-worthy borrowers. All of these checks, and the paper work that goes with them, is carried our behind the scenes by us, so that you don’t have to. At RateSetter we have some of the lowest levels of default, but if however a borrower makes a late payment on their peer to peer loan, our provision fund is there to protect and shield you from the risk of bad debt.

What rate can I expect from peer to peer loans?

At RateSetter, the rates are set by borrowers and savers, transparently displayed on our peer to peer exchange. This marketplace allows you to view all of the available peer to peer loan offers, allowing you to review, compare and choose a rate and offer that suits. On average, our 36 month loans provide lenders an annual return of 7.9% and 4.0% on our rolling monthly loans. Peer to peer loans are nothing new, but how RateSetter works is, with our matching process working to pair your loan offer with borrowers who are happy with your rate in the shortest possible time frame, allowing you to lend your money through our site faster than with other peer to peer lending providers. To find out for yourself and to learn more about peer to peer lending, simply give us a call, where one of our team of representatives will be on-hand to give you all of the info you need to start earning a better rate on your savings.