P2P Lending

vargoo

What is the story with buyback on Envestio?

ct5amr2ig1nfhp

Envestio don't have a "buyback" similar to the popular p2p sites mentioned in the thread. There is a detailed FAQ on the website https://envestio.com/en/investing/

Envestio will buyback the loan but there is a free. It will cost you a % of the amount invested. The percentage depends on the loan etc.

Here is a an example from one of my loans, these are the figures if I try to sell it back to Envestio.

Investment sell: € 100.00
Losses due to premature selling: € X.XX (this is the interest)
Penalty for sold investment: € 5.00
Returned amount: € 95.00

vargoo wrote: »

What is the story with buyback on Envestio?

vargoo

Clara Sparse Windbreak wrote: »

Envestio don't have a "buyback" similar to the popular p2p sites mentioned in the thread. There is a detailed FAQ on the website

Envestio will buyback the loan but there is a free. It will cost you a % of the amount invested. The percentage depends on the loan etc.

Here is a an example from one of my loans, these are the figures if I try to sell it back to Envestio.

Investment sell: € 100.00
Losses due to premature selling: € X.XX (this is the interest)
Penalty for sold investment: € 5.00
Returned amount: € 95.00

Envestio buyback guarantee means that any Envestio participant at any moment can sell an investment from his or her investment portfolio back to Envestio and instantly receive invested money back his or her investment account. Since the funds, gathered via Envestio portal, constitute a certain share of total financing that is attracted to specific project, besides traditional funding from banks, Envestio is sufficiently capitalized to execute any buyback immediately.
Cost of performing buyback is calculated and shown to Envestio participant in Envestio personal area.
Please note that in some cases cost of buyback can account to substantial percentage of invested amount.

Last line is wtf! And when does it tell you in your personal area? Before or after you buy?

ct5amr2ig1nfhp

Robocash has added a new loan originator, Zaymer.ru. Loans are 14% EUR and 18% RUB. Remember to update your auto invest profile if you want to have them included in your profiles.

Shelflife

New to the p2p game and found this thread informative. Have opened accounts with Linked, Mintos and Grupeer.

Find Mintos site very busy and you need to be careful. Grupeer seems very tidy.

I have set loan limits at €25 with Mintos and €10-€50 with Grupeer auto invest.

I like the idea of Linked Finance , loan limits are higher on that site with Autobids ranging from €50 to €500 depending on the risk involved. Would prefer if there were more loans available on that site.

I’d prefer to have more money in an Irish site than a foreign one.

Happy to take any advice going.

TheSheriff

Shelflife wrote: »

New to the p2p game and found this thread informative. Have opened accounts with Linked, Mintos and Grupeer.

Find Mintos site very busy and you need to be careful. Grupeer seems very tidy.

I have set loan limits at €25 with Mintos and €10-€50 with Grupeer auto invest.

I like the idea of Linked Finance , loan limits are higher on that site with Autobids ranging from €50 to €500 depending on the risk involved. Would prefer if there were more loans available on that site.

I’d prefer to have more money in an Irish site than a foreign one.

Happy to take any advise going.

Advice - avoid linkedfinance at all costs. Detach yourself from the desire to invest in an Irish site, you'll be worse off for it.

Shelflife

TheSheriff wrote: »

Advice - avoid linkedfinance at all costs. Detach yourself from the desire to invest in an Irish site, you'll be worse off for it.

Any particular reason ? Genuine question.

ct5amr2ig1nfhp

I wouldn't touch Linked Finance either. Can someone who has access to the LF site post some of their latest stats? You have to be a user to see the stats page. Thanks.

ct5amr2ig1nfhp

A poster has already mentioned it but in case anyone is interested again, here is revenue's tax guidelines on the treatment of interest earned via peer to peer lending.

ct5amr2ig1nfhp

I randomly picked three p2p platforms this morning and analyzed my figures for Aug, Sep and Oct. These are rough figures:

Peerberry - 10.75%, 11.40%, 12.00%
Twino - 10.60%, 10.00%, 9.80%
Mintos - 16.20%, 14.40%, 13.40%

I will try add another few platforms later in the week.

Shelflife

Clara Sparse Windbreak wrote: »

I wouldn't touch Linked Finance either. Can someone who has access to the LF site post some of their latest stats? You have to be a user to see the stats page. Thanks.

What stats are you looking for Project ?

ct5amr2ig1nfhp

Default rates, recovery rates, typical returns etc. How is LF working for you in general.

Shelflife wrote: »

What stats are you looking for Project ?

Shelflife

Clara Sparse Windbreak wrote: »

Default rates, recovery rates, typical returns etc. How is LF working for you in general.

At Qtr 3

Total loans 1709 €70m
Current 1644.
Late 30+. 15. €240k
Late 90+. 22. €226k
Active recovery 23. €295k
Bad debts. 5. €52k

Default rate 0.95%

Shelflife

Brand new to this game ProjectM, so far I’ve found it very straight forward to deal with and understand.

Close on 40 loans at the moment with an average of 10%

Found this thread and I’ve checkec out Mintos and Grupeer.

Finding my way around them atm.

I have some funds lying around that is earmarked for payments down the road and want to make it work harder than sitting in a bank account.

littlevillage

Clara Sparse Windbreak wrote: »

I randomly picked three p2p platforms this morning and analyzed my figures for Aug, Sep and Oct. These are rough figures:

Peerberry - 10.75%, 11.40%, 12.00%
Twino - 10.60%, 10.00%, 9.80%
Mintos - 16.20%, 14.40%, 13.40%

I will try add another few platforms later in the week.

Moose how are you coming up with those figures ? are you taking the actual income accrured over the Month divided by your prinicipal invested ? or are you just using the published percentage figures given by the websites ? I ask this because I wouldn't trust the published figures on the websites ...

BTW Your numbers from Mintos are excellent

Doubt I'm even getting 10% :rolleyes:

ct5amr2ig1nfhp

On mobile, so short reply....they're my own calculations, the published rates are not accurate. Note the drop in rates on mintos though.

ct5amr2ig1nfhp

Interesting development for Mintos (blog link). Mintos raised 5m that will be used to develop and launch personal IBAN accounts and debit cards.

Shelflife

Grupeer seems to have gone very slow. Only two loans there at the moment.

What are your views on Robocash ?

ct5amr2ig1nfhp

Yes Grupeer has slowed. Only one new loan today. The last loan was added 10 days previous. I think I will fire them an email to get an update.

Currently, I am fully invested with Robocash. My last few loans were Tez Credit 14.5%. I have increased by limit per loan and removed ZFinance (12% loans) from my auto invest. Prefer the 14/14.5% loans obviously

Unsure if it was the increase in the maximum investment per loan or the addition of new loan originator Z-Finance .

Interestingly, they have finally re/enabled the "AVAILABLE LOANS" section. Link is at the bottom of the page when you're logged in. It was always disabled. 720 loans currently available, mostly Z-Finance but plenty of 14/14.5% loans available. Might be a good time to increase my funds.

ct5amr2ig1nfhp

Robocash announcement today. All new loans from Monday 19th will have annual returns up to 12%. Strategic decision etc etc.

Well,that's a pity. I had only commented yesterday that I was seeing loans from 14% and 14.5%.

Edit:

Mintos News: Mogo at it again. They will repurchase up to 45% of their loans on Mintos. Keep an eye on your portfolios.

Shelflife

So after dipping my toe in the water here are my thoughts.

Linked Finance . So far so good , loans are slow but steady, hard to get a decent portfolio without exposing yourself to loans that in reality you don’t know much about.

Mintos: pretty good liquidity, easy enough to build up a varied portfolio.


Grupeer. Initially great , very simple and straightforward but loans have totally dried up and struggling to fill my portfolio.

Robocash. So far so good with my initial deposit filled on the day.

Peerberry. Waiting on my deposit to clear.

Overall I’m happy , coming from a less than 1% return to about 10.5 % on average I’m very happy.

Only quibble I have is the length of time it takes for the money to be transferred into the site when you make a deposit.

I’d like to get more into these sites so looking at topping up Mintos and Robocash. Any others that you trust / use ?

bunderoon

Going to dip the toe.

A quick question - how safe is using the quick bank transfer where you select the bank and then it opens a small window where you put your online username and password...

Operated by Trustly.

ct5amr2ig1nfhp

Very happy with viainvest and viventor.

ViaInvest is part of the VIA SMS Group. The group was established in 2009. ViaInvest was launched in Dec 2016.

Viventor was launched in Oct 2015 and is part of the Finstar Financial Group founded in 2006.

FastInvest is promising. Very high returns.

And not to forget Swaper!

Grupeer said they will have regular new loans soon.

Most of the P2P platforms I use have same day transfer. As long as I make a deposit in the morning, it's in my account by afternoon.

bohsman

bunderoon wrote: »

Going to dip the toe.

A quick question - how safe is using the quick bank transfer where you select the bank and then it opens a small window where you put your online username and password...

Operated by Trustly.

Trustly are a very good company, very big in Scandinavia, well regulated.

vargoo

bohsman wrote: »

Trustly are a very good company, very big in Scandinavia, well regulated.

And will be hacked at some stage. Do everything you can to prevent your details going AWOL. It happened to me, I got 99% of it back but it took hours and hours of emails/phonecalls over 7 month period. If the person starts buying games on Facebook, sets up guest accounts on PayPal, steam, western union, oh man.

Trust no one, especially trustly and any of these P2P companies.

bohsman

I've been using them in work for 70% of our transactions for the last 6 years, probably the most secure payment provider out there. Take your usual security precautions obviously but it's definitely more secure than credit card etc.

Level 5 Vegan

I see there's a 1% transaction charge using Trustly with Mintos now. Is there any method of depositing without a charge on Mintos?

ct5amr2ig1nfhp

Trustly fees appear to be 1% up to a max of 10 EUR.

Bank transfer is still free. Typically my deposits hit my account within 24 hours. They're the same day if I make the transfer in the morning.

Level 5 Vegan wrote: »

I see there's a 1% transaction charge using Trustly with Mintos now. Is there any method of depositing without a charge on Mintos?

ct5amr2ig1nfhp

Grupeer have updated their auto-invest tool. You can now have up to 10 auto invest portfolios.

Pity there are zero loans available... *ahem*... come on Grupeer!

Jorgen from Financially Free (link in my sig) met with the Grupeer team over the weekend. He'll have a review up in the next few days.

ct5amr2ig1nfhp

Viventor have launched a refer a friend program. Not a super bonus but I guess better than nothing.

Share you personal referral code with a friend.
The friend enters your unique code during registration.
The friend invests at least €500 for at least 30 day-period.
Both of your accounts will be automatically credited with a €5.00 bonus.

Shelflife

Open up an account with Swaper 2 days later still nothing invested.

Doesnt seem to be anything there at the moment

ct5amr2ig1nfhp

I am seeing about 10% not invested on Swaper.What are your Auto Invest settings? I had read a blog previously that stated having multiple portfolios helped but Swaper support told me the opposite. So now I only have one auto invest portfolio.

Mintos currently have a large number of EUR, 13%, short term(<30 days) loans available via the higher risk loan originators if anyone is interested.

Still no new loans on Grupeer.

I threw a few quid into Robocash and it was invested straight away. Nice to see plenty of new loans available again.

bunderoon

A bit off topic, but I sent 100euro via SEPA from PSTB to my Mintos account on the 19th. No sign of it over at Mintos.

Any idea on the normal waiting time for this to hit the Mintos account?

bohsman

1 day at most, contact them with any reference numbers you see on the transfer or a screenshot of the transaction.

ct5amr2ig1nfhp

As bohsman said. One to two days max. PTSB are known to "cut" their reference field. I've had similar issues in the past with PTSB. It's most likely sitting in Mintos account and they don't know which investor account to credit. Send them an email and open24 screensnip of your IBAN and the date and approx time of the transfer.

littlevillage

From BoI it can take 2-3 days to show up in my Mintos Account. Depends on what time of the day the transfer is initiated etc.

Shelflife

Thank you for contacting Grupeer Support team.

The offer of these loan deal is not enough for all of our customers. We are actively working on placing new amazing investment opportunities on our platform. It is expected that in following days there will be available more loans on our platform.

ct5amr2ig1nfhp

Copy and paste email. I received the same.

bunderoon

Thanks guys. I have sent them an email with the details.
Probably Monday before I hear back.

Thanks again.

ct5amr2ig1nfhp

Fyi, I had a similar problems with a few other P2P platforms, not just Mintos.
My first transfer wouldn't show on my account and I had to contact support to get my account credited. Any subsequent transfer was very quick.

ct5amr2ig1nfhp

In other Mintos news - Trustly transfers are only free for the first 90 days after registration. No mention of it anywhere on the website.

ct5amr2ig1nfhp

todocrowdlending.com does their own analysis and ratings of p2p platforms. Might be worth a read.

retalivity

Mintos offering 0% commission on currency conversions to RUB & KZT between Nov 26th - 30th.
Not sure that interests me due to the volatility of those currencies, although the rates are higher, and the commission will be there when transferring back to EUR

Shelflife

So here is where I am after throwing myself in at the deep end.


% %
Platform Portfolio Drag


Linked 15 8
Mintos 19 5
Grupeer 4 100
Peerberry 25 0
Robocash 13 0
Fast Inv 13 0
Swaper 1 73
Envestio 2 80
Viventio 8 0

Drag mainly on the initial investment.


Looking for a safe place to earn some interest for money that was wasting away in the bank so my return may not match some of you high flyers out there.

Linked was my entry to all this, I like the platform and its layout, its interesting and simple to use. would prefer to vet the loans more than you can but yu can set up your autobid to reflect what you want.

Mintos is a funny one lots of bells and whistles, takes a bit of work to get the best out of it. Liquidity is good but it seems that the autoinvest needs a shake every now and them to get the best out of it.

Grupeer I like it, simple and effective until the loans completely dried up


Peerberry Far and away the best for me, great liquidity, good returns and a simple easy to use platform

Robocash again a straightforward platform to use, good liquidity and decent returns

Fast Invest Straightforward, good returns good liquidity

Swaper Disaster , really dont like it, poor liquidity, finicky auto invest expected so much better from it.

Viventor Seemed to take a couple of days to get going but then filled my portfolio pretty quick, not as straightforward as others but not too bad

Envestio Totally different with very exciting interest rates, but not one to risk too much money, could be a very interesting site and worth watching imo.

Overall ive hoped that Ive spread my investments wisely. Most of the loans are in the €25-€50 bracket with Linked and Envestio averaging about €200 per loan.

Happy to answer any questions and open to constructive criticism.

The Haven

This thread is a goldmine of information on p2p lending.
I am thinking of starting to invest in this.

I'll probably start with Minto, Robocash, but I'll research more before investing.

Supercell

After a disastrous foray into crypto last year I think I'll dip my toes into this, quite a lot of great posts here, thank you to all.

ct5amr2ig1nfhp

I was sent a message recently to be wary of Envestio and FastInvest. I only have small amounts invested with these two, so happy to leave what I have invested already. Both relatively new entrants to the p2p market. FastInvest is involved in p2p and crypto. Envestio has some of the highest returns I've seen 20+%. So yeah... keep an eye on these two.

EstateGuru, one of my very first investments with EstateGuru is now in default. A bailiff has been brought in to move things along. Will be interesting to see how it unfolds.

vargoo

Clara Sparse Windbreak wrote: »

I was sent a message recently to be wary of Envestio and FastInvest. I only have small amounts invested with these two, so happy to leave what I have invested already. Both relatively new entrants to the p2p market. FastInvest is involved in p2p and crypto. Envestio has some of the highest returns I've seen 20+%. So yeah... keep an eye on these two.

EstateGuru, one of my very first investments with EstateGuru is now in default. A bailiff has been brought in to move things along. Will be interesting to see how it unfolds.

They're dodgy as hell the lot of them... unfortunately.

zpehtsfd

On a related note: https://www.bloomberg.com/news/articles/2018-11-29/china-is-said-to-plan-major-purge-of-176-billion-loan-market

Supercell

zpehtsfd wrote: »

On a related note: https://www.bloomberg.com/news/articles/2018-11-29/china-is-said-to-plan-major-purge-of-176-billion-loan-market

Reminds me of crypto and bitcoin price crashing as the Chinese started a clampdown on that there too. It does concern me that most of these psp lenders seem to be based out of eastern european countries, dont know why but makes me wonder if regulation is lighter there or something?