Also known as: RateSetter
RateSetter was originally founded in 2010 as a peer-to-peer lending platform (legal entity: Retail Money Market Ltd). Metro Bank acquired it in August 2020 for approximately £2.5m cash consideration. From 2021, Metro Bank used the RateSetter brand and technology to offer unsecured personal loans funded from bank deposits (not P2P). The original P2P investor accounts were closed and loans sold to Metro Bank in February 2021. Retail Money Market Ltd was dissolved in September 2023. Metro Bank subsequently ceased lending under the RateSetter brand in late 2023 and wrote off the platform in 2024. As of mid-2026, the RateSetter brand is entirely wound down within Metro Bank. Metro Bank also announced a sale of a £584m performing unsecured personal loan portfolio, with remaining portfolios in run-off.
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Formerly: peer-to-peer personal loans (Retail Money Market Ltd, 2010–2020); then Metro Bank-funded personal loans under RateSetter brand (2020–2023); vehicle finance loan briefly launched January 2023; RateSetter fixed-term savings product briefly available September 2023 via Hargreaves Lansdown. All now wound down.
Trading names and group notes
Metro Bank PLC continues to operate as a standalone bank. The RateSetter brand is defunct. This record documents the wind-down for historical completeness.Review scores are third-party public indicators only. They are not proof of FCA compliance, product quality, or suitability for your circumstances.
Trustpilot
Not applicable (brand wound down)
Not applicable reviews
Not applicable
Not applicable reviews
App Store
Not applicable
Google Play
Not applicable
Other review and social proof
Not applicable
Overall public sentiment
Brand is defunct as of late 2023/2024. No current customer-facing service under RateSetter name.
Source URLs
Date checked
2026-06-05
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