Need some help?

If your finances have been affected by coronavirus and you would like to discuss how we can provide support, please contact us using the details above.

There is no change for customers who already have a RateSetter loan – your loan continues exactly as before.  Our Borrower Services team remains available in the usual way to assist with any questions you may have.

RateSetter is authorised and regulated by the Financial Conduct Authority.

At RateSetter we put our customers' best interest first. We recognise that award winning customer service is not just about the good times, it’s about how we help you when things don’t go as planned. That’s why if we make a mistake, we promise we'll go out of our way to make it right.If you are unhappy with any aspect of our service and would like us to look into your concerns further, please do not hesitate to get in contact Click here to see how.

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In 2020 we were acquired by Metro Bank, marking the start of an exciting new chapter for RateSetter, specialising in delivering market-leading personal loans along with our consistently excellent customer service.

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RateSetter offers a quick and paperless application process, to apply for a loan simply:

• Choose how much you wish to borrow and for how long. We offer loans from £1,000 - £35,000 over 1 to 5 years.
• Receive an immediate personalised quote, we use a soft credit search for quotes and this will not affect your credit file.
• Receive a decision within 5 working days. Our Team may ask for additional information to aid us with making our decision.
• Once approved funds will usually be in your bank account the next working day. Your Credit file will be marked once you accept your loan offer. 

Get a personalised quote

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It only takes a few minutes to get your no obligation quote with RateSetter.

Eligibility requirements:

• You are are 21 or over.
• You hold a UK bank or building society account.
• You have been a UK resident for a minimum of 3 years.
• You have a regular source of income paid monthly, for example through wages or a pension, of over £16,000 a year.
• You have a good credit history, with no County Court judgements, bankruptcies or debt relief orders on your credit file.

If you meet these requirements, the first step is to obtain a quote. If you are happy with the provisional interest rate and terms offered, you may choose to go ahead and make a full application online.

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Yes. Our quotes carry no obligation for the Borrower.
If you register for a quote, we’ll ask you a few questions so we can tell you how much you can borrow with RateSetter and your likely APR. We'll then carry out a "soft search" of your credit history with our credit reference agency.
This won’t have any impact on your credit score. This process is completely free and without obligation.
Our quote will remain valid for 30days and you will not be able to obtain a new quote during that time.
Borrowers only pay a fee if they decide to take out a Loan - the fees and the interest are spread out over the entire term of the loan, there is nothing to pay upfront.

Get a personalised quote

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One you have decided to apply for your loan two things could happen:

• Instant Decision
  If all the information you provided is accurate. You could be given an instant decision.
• Referred Decision
  If we require additional information our team will contact you requesting necessary information and once the information is received in the correct format, we aim to provide a decision within 5 working days. Please look out for this in your emails.

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To allow us to give you a personalised quote RateSetter conducts a soft search on your credit file, this will give us an insight into your debt history & creditworthiness. Don’t worry a soft search is not visible to other lenders. If you decide to go ahead with the loan application we will then conduct a hard credit search which will appear to other lenders.

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The loan fee allows us to cover our costs. This allows us to create, maintain and service your accounts throughout your journey with us. The loan fee is built into the APR (Annual Percentage Rate) along with your fixed annual interest therefore there are no hidden charges.

Please note - the loan fee is non-refundable if you settle your agreement early. The only time this is not chargeable is if you withdraw from your credit agreement within 14 days.

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The general risk of borrowing with us is the same as the risk of borrowing from any other provider. You will need to consider if the repayments are affordable for you on a monthly basis. You will also need to ensure you have a plan in place should your employment circumstances change.

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Congratulations if you have had your loan accepted. The next stage is to sign your documents.

Simply click the link sent to you advising of your loan acceptance and carefully read all the documentation. If you are not sure or need further guidance on anything you read do not worry, the loan offer is valid for 14 days to ensure you are totally happy with your loan agreement.

If you are satisfied with the terms and documentation then, after e-signing the agreement, funds will be released the next working day by 6pm. For example, if a loan is signed on a Friday at 5pm, the funds will be released on Monday by 6pm; or if you sign a Monday at 8am, the funds will be in your account by 6pm on Tuesday.

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Sometimes this happens, we recommend that you close down all windows on your browser and clear all your cookies and cache. Attempt to click on the approval link we issued to you. If you are still encountering problems, contact our Borrower Services team and we will help you get back on track.

Email: [email protected]
Call: 020 3142 6226

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Simply click the forgot password button on the login page and follow the steps.

When we advertise a representative APR, it means that at least 51% of the customers taking a RateSetter loan will receive a rate that is the same as, or lower than, the representative APR we show.

If you would like to continue your application then complete the application form and, if required, submit any extra information as specified by our team. If you have decided to not continue then your quote will expire after 30 days.

Please refer to the quote retrieval code in the original email and use this in the password field along with the email address as the username. Or go to the RateSetter’s sign in page and click the forgot password link and follow the steps.

One you have decided to apply for your loan two things could happen;

• Instant Decision
  If all the information you provided is accurate you could be given an instant decision.
• Referred Decision
  If we require additional information our team will contact you requesting necessary information and once the information is received in the correct format, we aim to provide a decision within 5 working days. Please look out for this in your emails.

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You will usually receive a reply within five working days once all relevant information has been provided.

For some customers to finish off processing their request we will need to verify income and expenditure. To make this as simple as possible we have teamed up with consents.online. they provide a safe and secure way to share your information online. Simply give consent.online permission to share your account information, and they’ll then give us read only access so we can finish off processing your application.

There are 2 options here:

1. If you have been offered open banking only, please send your bank statements to [email protected].
2. If you have been offered the document upload feature then please upload your documents there.

• For open banking please provide us with the account that your income is paid into.
• If you are required to send or upload documents please send bank statements from the account that your income is paid into for the last 60 days.

We only accept a total of 40MB and 12 files per upload.

PDF, PNG, JPEG, JPG.

Yes you have access to upload more files and you will see this option on the screen. Please upload documents in the same upload session or as soon as possible as the team will only be able to review your application using the documents uploaded during that session, or immediately after. Documents submitted the next day may not be considered. You may find it easier to gather all the documents you need before clicking on the upload button.

No, you are unable to delete these files yourself once they have been uploaded. We only process or retain data in line with GDPR so we will not retain a document that is surplus to our requirements to process your application. If you are still concerned about a specific file that you would like deleted please contact us by email [email protected] or call us at 020 3142 6226. You will need your application reference.

Please ensure your files are of the correct format & your internet connection is good whilst uploading.

If there continues to be an issue please contact borrower services.

Our credit team will be in touch if they require any more information from you, but if you have already provided this or have not been asked to provide any more information then nothing else is needed at this time.

From the point of your application being approved, your loan offer is valid for up to 14 days. You can sign into your account at any point to accept your loan online within the 14 days. 
If the 14 days have expired there will be a link in your account to"Reinstate Credit Request." If you click on this link, we will reinstate your credit limit so you can take out your loan provided your financial status has remained consistent since the original application.

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This can either be done by calling our customer services team, or the application will expire after 14 days.

Email: [email protected]
Call: 020 3142 6226

Please call our customer services team. 

Email: [email protected]
Call: 020 3142 6226

Unfortunately, if our credit team have declined your application for a loan, we will be unable to provide you with specific reasons as to why we have declined (or approved) your loan.

A number of elements make up our credit decisioning including affordability of the loan, your credit score and past credit history.

Your RateSetter application leaves no impact on your credit file, which makes it easier for you to try with another Lender.If you wish to reapply with RateSetter we will not be able to accept any new applications for at least 3 months. After this time elapses we will welcome a new application.

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RateSetter conducts a soft search on your credit file, to give us an insight into your debt history & creditworthiness. This allows us to make a personalised quote. Don’t worry this is not visible to other lenders. If you decide to go ahead with the loan we will conduct a hard credit search which will appear to other lenders.

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If you have forgotten your password, please go the RateSetter's sign page and click [forgot my password]. You will be sent a link to reset your password. If you wish to change your Security Question/Answer, simply click on ‘Account Preferences’, ‘Contact Details’ and then ‘Change Security Info’.

If you still cannot access your account, please contact our Borrower Services Team. 

Email: [email protected]
Call: 020 3142 6226

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Your Repayment date is automatically set 30 days ahead from your contract date.  You can amend this and the easiest way to change your direct debit date is online.

Please log in to your account and click on ‘Details and Payments’ followed by ‘Change Direct Debit’. At the top of the page, you can confirm which date you would like your direct debit to be changed to.
Please bear in mind that we require at least 5 workings days’ notice, before the direct debit is due to be debited from your account, for the changes to take effect. If you change your direct debit instruction with less than 5 days’ notice, the changes will take effect for the following month.

Alternatively, if you do not have access to your online account, please email [email protected]

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Of course you can! Simply sign into your account and click 'Manage loan' button of your overview page. At the bottom of the next screen click on one of the “Make payment” button and follow the steps.

The amount paid will be deducted from the total balance of your loan. Once the payment has cleared, your term will automatically reduce. Please contact [email protected] or 02031426226 for any further queries.

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Yes, you can pay off all or part of your loan early at any time and there are no early repayment fees. You can make additional payments, increase your monthly instalments or repay your loan off in full; all these functions can be managed online.

You can increase your monthly repayment to RateSetter, in turn this will pay your loan off faster and may save you interest. If you would like to increase your monthly Direct Debit payments give our customer services team a call on 020 3142 6226.

If you are struggling with your repayments, and are in need of support, please don’t hesitate to contact us on the usual number 020 3142 6226. 

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If you have changed your bank account through the Current Account Switch Guarantee, this means your new bank will take care of closing your old account, moving your balance and switching your payments (direct debits). You do not need to inform us.

If you wish to pay your instalments from another account in your name, you will need to contact us. Please contact [email protected] or call us on 020 3142 6226.

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We can, sometimes, offer another loan or consolidate your existing loan to provide additional funds. RateSetter will automatically enable the ability to reapply on your online account once you are eligible.

We ask for 6 monthly instalments to be made on time and in full, to highlight your ability to manage your loan. Once you have applied this will be considered by our underwriting team in line with our affordability assessments.

There is no guarantee that you will be accepted. If you are accepted your new or additional loan will be paid in line with our time scales, or if you selected a loan for the purpose of consolidating a RateSetter loan, the funds will settle your existing agreement first before paying out any additional funds.

Please bear in mind your new payment date may be different to your initial payment date, please refer to “Change your payment date” for advice on how to amend.

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First, do not panic, we understand things happen. You can make your payment online through your online account via Debit Card by clicking on 'Make payment' button on your overview screen. 

If you are unable to make your payment immediately, you will receive notification of the missed payment and a date when we will resubmit for the payment. If this date is not suitable please contact our team on 020 3142 6226 and we can amend the date for you.

If you are experiencing difficulties, please contact [email protected] or call 020 3142 6226. Our team can help.

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Payment is arranged by direct debt, to be collected once a month. Your first repayment is usually scheduled to be debited one calendar month after you accept your loan. You can change your direct debit date online, through your RateSetter account. If you have already begun to make repayments on your loan, please bear in mind that we require at least 10 workings days notice before the direct debit is due to come out of your account for the changes to take effect. If you change you direct debit instruction with less than 10 days notice, the changes will take effect for the following month.

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We cannot anticipate obstacles that come into our lives, despite having the best intentions sometimes we fall behind on our repayments.

At RateSetter you will find help and support if you need it. Our trained staff are here to listen and will work with you to find suitable plan. Please call us on 020 3142 6226 8:00am - 6:00pm Monday - Friday.

Please also consider speaking to any of these companies who can provide free, impartial advice:

Money Helper 

0800 138 7777

PayPlan 

0800 280 2816

Stepchange 

0800 138 1111

Citizens Advice

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What happens if I miss a monthly repayment?
If you miss a monthly repayment, a notice of sum of arrears will be issued and we will attempt to take a direct debit payment within the next 5-days. If you’re struggling to service your borrowing please contact us immediately.

What happens if my business enters a form of insolvency?
If your business enters a form of insolvency please contact us immediately and we will liaise with the parties dealing with this matter.

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No, we do not sell Payment Protection Insurance.

From time to time we may contact selected customers offering them exclusive rates on a new loan. If selected, we will contact you by post and/or email with a link to the terms of the offer and details of how to apply.