RateSetter passes £3 billion lending landmark

By RateSetter notices

RateSetter investors have now supplied more than £3 billion in loans to people and businesses across the UK and in doing so have earned over £120 million in interest to date.

Well over 600,000 customers have used RateSetter to invest or borrow – a number which continues to grow strongly. Investors have lent £1.9 billion to individuals and £1.1 billion to businesses.

£2.2 billion has been repaid by borrowers, generating returns of £120 million for RateSetter investors, who have enjoyed an average annual interest rate of 4.4% per year since RateSetter launched in 2010.

Peter Behrens, RateSetter’s Chief Lending Officer, said:

“Eight years ago, we spotted the opportunity to make investing and borrowing better for everyone - and we remain as focused on that mission as ever. We are very proud that RateSetter has helped more than 600,000 investors and borrowers access better interest rates on the £3 billion of lending that has been delivered through our platform. £3 billion is impressive, but we’re only getting started. Our vision is to make RateSetter a household name for the millions of investors and borrowers across the UK that are seeking better value.”