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RateSetter Personal Loan
RateSetter is no longer accepting new loan applications, having fully wound down its peer-to-peer lending platform. Existing customers will continue to receive service.
RateSetter Personal Loan
Updated 22 minutes ago| APR | Amount | Term |
|---|---|---|
| 6.5–25.9% | £500–£25,000 | 6–60 mo |
Requirements
18+
UK resident
Regular income
Decision
Same dayOur Verdict
RateSetter is no longer accepting new loan applications, having fully wound down its peer-to-peer lending platform. Existing customers will continue to receive service.
✅ Best For
This loan was suitable for individuals seeking personal loans with flexible terms and competitive interest rates while it was operational.
⚠️ Watch Out
With RateSetter ceasing new applications, potential borrowers will need to explore alternative lending options.
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About this loan
Expert Analysis
RateSetter, previously a well-regarded peer-to-peer lending platform under Metro Bank, has recently announced that it is no longer accepting new loan applications as of 2026. This closure means that while existing loan holders will still be serviced, new customers are left without access to its previously competitive personal loan offerings, which had an APR range of 6.5% to 25.9% and loan amounts between £500 and £25,000. The platform was particularly advantageous for borrowers with a building credit tier, offering terms from 6 to 60 months.
However, potential customers now face the challenge of finding alternative lenders that can match RateSetter's previously favourable terms. While the decision to close may reflect broader market trends or internal strategy shifts, it leaves a gap in the personal loan market for those who valued RateSetter's approach. Other lenders may provide similar services, but borrowers are advised to carefully compare interest rates, terms, and fees to ensure they make an informed choice.
Similar options
APR
3.9–21.9%
Amount
£1k–£25k
Term
12–60mo
APR
99.9–1333.0%
Amount
£50–£1.5k
Term
3–6mo
APR
3.9–24.9%
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£1k–£50k
Term
12–60mo
Santander Personal Loan Review
PersonalUK resident
18+
1-2-3 account for best rate
APR
5.3–21.9%
Amount
£1k–£25k
Term
12–60mo
18+
UK homeowner
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4.9–14.9%
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£1k–£25k
Term
12–120mo
APR
9.9–69.9%
Amount
£1k–£8k
Term
12–60mo
Rates shown are representative. Your actual rate may differ based on your circumstances. We may earn a commission for referrals.
Similar options
APR
3.9–21.9%
Amount
£1k–£25k
Term
12–60mo
APR
99.9–1333.0%
Amount
£50–£1.5k
Term
3–6mo
APR
3.9–24.9%
Amount
£1k–£50k
Term
12–60mo
Santander Personal Loan Review
PersonalUK resident
18+
1-2-3 account for best rate
APR
5.3–21.9%
Amount
£1k–£25k
Term
12–60mo
18+
UK homeowner
Good credit
APR
4.9–14.9%
Amount
£1k–£25k
Term
12–120mo
APR
9.9–69.9%
Amount
£1k–£8k
Term
12–60mo
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