RateSetter lender drinks in Birmingham
By Simon Hawtin | Fri 14 Nov 14
By Simon Hawtin | Fri 14 Nov 14
On Wednesday, around 50 RateSetter lenders descended upon OPUS restaurant in Birmingham for a natter with fellow lenders and staff behind the platform. It was a successful event and we'd like to take this opportunity to thank all those that attended.
RateSetter milestones impress loyal lenders
The event began with drinks and canapés allowing lenders to discuss their experiences with RateSetter. At 19:30 Peter Behrens (RateSetter co-founder and COO) did a presentation updating attendees on RateSetter's key milestones over the last 12-18 months.
For those that couldn't make the event, or would like to see the presentation regardless, you can view it on slideshare below:
Lively Q&A session reveals exciting new development
After the presentation the floor was opened for a Q&A session and as usual, Peter fielded a fair few questions some of which revealed a new addition to RateSetter's borrowing products.
Here are the top 3 questions asked by lenders on the night:
1. What's the biggest loan you've done to date?
The answer to this is £0.5m, which is one of the commercial loans we've created at RateSetter. Business lending is an area that has grown organically for us - we naturally started lending to sole traders and other individuals borrowing for business purposes and that is now beginning to develop into a stream of enquiries for commercial borrowing, exactly the type of lending the British Business Bank has partnered with us to deliver.
We see the future of RateSetter as a multi-asset platform - it is our role to generate loans that deliver you, our lenders, safe returns (please remember capital is at risk). We've hired experienced staff to ensure we only lend into areas we understand.
2. When the ISAs are available, won't all the new money flood the market and dramatically reduce rates?
By continuingly working hard and building our capacity as a business, we're ensuring a healthy flow of demand for money to cater for added supply arising from events such as an influx of money from ISA savers.
Also, while the inflow from ISAs may result in rates ticking down that will stimulate more quality borrower demand as well as deepening the RateSetter market making it more liquid.
3. Will RateSetter rebate the sell out fee in the event I die and my estate needs to liquidate my loans?
We thought this was a really constructive question and Peter could see that this would alleviate concerns for our lenders who want to lend more. Peter undertook to sort this out as a positive project for 2015.
Action shots from the evening
For your viewing pleasure, see below a few snaps from the event. (We apologise for the grainy quality of the images, they were shot from a smartphone whilst pacing around the venue.)
Did you have a good time? Any feedback?
If you came to the event, please do let us know what your thoughts were and if you have feedback, pop a suggestion in the blog comments below.
Interested in coming to a RateSetter lender drinks event in the future? Let us know what you'd like to hear about and discuss in the comments section.
We live in a sharing society so why not share this article with your friends and family? Use the sharing buttons at the top or grab the URL to this page and paste into your social network of choice.
Hopefully you'll find answers to your questions in our FAQ section.
Still need help? That's fine. Just call us on 0203 142 6226 or email [email protected]
Here's where you can view, select and compare previously matched market rates on RateSetter. Also, check out our default and coverage ratios and see a guide to matched volumes over time.