RateSetter www.ratesetter.com

Ratesetter from an investors viewpoint.

I have invested with multiple peer to peer lending sites, and I have to

say Ratesetter sits proudly at number one spot on my list. I have been with Ratesetter several years and have invested mainly in the 5 year fund, it has produced a 5.5% return so far which I am very happy with.

The substantial provision fund also provides peace of mind.

As an added bonus Ratesetter offers a great referral scheme, if you invest £1000 for a year you will receive a very impressive £100 bonus if you abide by Ratesetter's terms and conditions.

I had ratesetter account and not been using much since couple months ago.

I start transfer money to rate setter and I invest total of £22,500. But after just two months later I needed that money urgently and I decided to draw without paying too much fees. And I was checking the withdrawal options regularly to see the rates and the best time I can sell all my investment with maybe a little loss. Finally I found A day that market rate was 4.1% and my loan rate is 5% so if I can sell my loan I don't have to pay too much fees because my rate is higher than market rate on the time.

So I went to sell-out option and see that I will be charged only £41 and it was very reasonable and I review on the second page if everything okay and I submit sellout . After two days I receive my money and I so that I have been charged £290 rather than £41. I immediately called rate setter after waiting on the phone 15 minutes manage to speak someone. First 15 minutes I tried to explain him what happens why I my money is not been transferred completely. Finally the guy understand what I am talking about and she said that I have very strong cheese because what happened. So he officially launch complaint procedures and told me that someone will contact me next couple days and did. The guy told me that they will we'll found screenshot on my sell-out and they will understand what happened so I said that's fair enough and I wait another week to week and he sent me another email saying they can't technically screenshot of my sell-out thought that's why they can't refund my money back for go he sent me another email saying they can't technically get screenshot of my sell-out thought that's why they can't refund my money back but they can only pay me £75 but they can only pay me £75.

So because of right-centre IT fully fault I had to lose £215 which I didn't even made with my investment in two months so that's why I don't suggest anyone to invest rate setter until They sort out their IT problems.

So be aware it's clearly designed to take people's money.

Changed my bank details back in Nov 2014, they are still trying to take from my old bank leaving me with £35 charges a time after speaking and emailing them 7 times!

Maybe the worst service in the banking industry!!

I call the helpline with an enquiry, the first gentleman was completely uninterested and unhelpful from which i gained no information. Not to be put off i called again, this time a pleasant lady answered but couldn't navigate the web site-i had to show her from my laptop!! extremely poor service! i won't be investing

Ratesetter have serious problems with their website and the help line is useless.

I tried to open an account in my name. This ended with the computer unable to confirm my id. The computer told me to call the help line. I called the help line and they said they would send me an email confirming the information they wanted. Some days passed and no email arrived.

I then tried to open and account in my wifes name. The website refused to accept the application because it claimed already to have an account for my wifes email. The website had mistaken my email as being the same as my wifes email because we have the same domain name. We have different emails but on the same domain name. The Ratesetter website was not able to identify the two email addresses as being different people because we had the same domain name. I then tried to call the help line again and only got a message inviting me to leave a message. If I am getting this now when I have a choice to walk away what am I going to get later.

I asked for a loan of £8500 and was shocked when I was quoted a £1000 fee and 12% apr after applying. Thankfully I was refused and managed to get the same loan at 4.9% and fee free with my bank and the money in my account within 24 hours, will not be trying p2p lenders again.

A very quick, professional, simple & efficient way of getting a loan. Great staff with friendly , helpful advice.

Could not ask for more..........Brilliant.

The whole process from start to finish was fantastic. I received an excellent service with a great rate. I will definately be recommending ratesetter to friends and family

When emergencies arise (like my irreparable bolero) its was great to discover Ratesetter,

Simple to use, highly efficient response. Great manner and attitude of staff and a price that was right.

The loan was easy to arrange, and following a quick phone conversation was in my account almost immediately. It was also easy to settle the loan a few months later without any fuss or hassle. No problems at all throughout the whole process, so I could definitely recommend and would use again.