P2P Lending

Shelflife

No lag at all for me with Peerberry.

Swaper was too slow for me, put in 2k and it took ages to be invested, couldn’t do it manually either.

By the time 1k was invested I took the decision to get out.

Supercell

Currently I'm just investing in Euro loans on Mintos. However there are others in different currencies at very nice rates. Can we invest in them using Euro funds and secondly if so what is the conversion rate charged by Mintos, is the interest in that currency as well?, anyone doing this?

ct5amr2ig1nfhp

Be careful investing in other currencies. There is a reason the rates are higher. Take a look at the historical exchange rates between your base rate (EUR) and the other currencies. e.g Russian Ruble, Georgian Lari etc. The fluctuations between the two could wipe out any interest earned and worse still eat into your investment value.

I have investments in PLN as the interest rates were more attractive at the time. Also PLN has been fairly stable against the EUR over the last 10+ years.

Stick to EUR investments for now would be my advice.

ct5amr2ig1nfhp

To add an example.

Mid 2014 I invest 100 EUR for 1 year at 20% interest rate into RUB loans. The exchange rate is 1 EUR -> 50 RUB. (so 5000 RUB is invested)

1 year later, I now have my initial investment plus interest back (5000 + 20% = 6000 RUB)

Great! But now I want it back in EUR.

Mid 2015 the EUR has strengthened significantly to 80 RUB. Meaning if I converted my funds back from RUB to EUR, I'd be left with 75 EUR. I would have lost 25% of my investment.

Supercell

Great information ProjectMoose, thanks for taking the time to write that, I'll stick with the euro loans so.

vargoo

Mintos auto invest use to have a box that displayed the available loans while you changed things, click this it goes down, untick that it goes up if you get me.

Is it just me or is that gone?

Supercell

vargoo wrote: »

Mintos auto invest use to have a box that displayed the available loans while you changed things, click this it goes down, untick that it goes up if you get me.

Is it just me or is that gone?

Gone for me too, don't know why the removed it, was very useful.

ct5amr2ig1nfhp

Gone here as well. It was there yesterday morning. I often see other parts of the website disappear and reappear hours later. I have contacted support about these sort of problems and the response is always the same, "we are doing updates, it'll be back later."

littlevillage

I noticed that 'number of available loans' box was quite slow to update sometimes......so maybe they are sharpening up their queries ?

Cute Hoor

New lender AxiaFunder (there must be geansai loads of people willing to invest in these P2P businesses) out there now, doing litigation financing, minimum investment 500, all your capital at risk, 20/30% annual return, first one offering 60% annual returns. Generous fees being taken by the promoters.

ct5amr2ig1nfhp

Good news for anyone using Lenndy. SEPA payments will be available soon, so you will no longer have to deposit via Paysera.

ct5amr2ig1nfhp

Over 50% of my loans on TWINO have had the buyback kick in today. Anyone else see the same.

adam88

I’ve been doing linked finance just over three year and have a large four figure sum invested. I only have had two defaulters and these were sorted my linked eventually.

I think the key to my success is don’t hsve all your eggs in one basket. I do 50 euro loans. That way if the company goes tits up I can deal with the loss of 50 euros.

I’ve also discovered flender and will put a few pics with them to loan out.

One thing I’m not happy with is there isn’t enough loas out there. Rite now I’ve 350 sitting in my linked finance wallet waiting to be loaned out. I’m not making no money off that

ct5amr2ig1nfhp

It must have taken you a considerable amount of time to invest your funds with only 50 euro per loan? You can quickly do that with the likes of Mintos (they currently have 400k available) but are there, or have there been, enough loans on linked finance?

I note this morning I am now fully invested in Swaper :pac: Thanks to everyone who left

adam88

Clara Sparse Windbreak wrote: »

It must have taken you a considerable amount of time to invest your funds with only 50 euro per loan? You can quickly do that with the likes of Mintos (they currently have 400k available) but are there, or have there been, enough loans on linked finance?

I note this morning I am now fully invested in Swaper :pac: Thanks to everyone who left

No that’s the problem. There’s not enough loans coming through hence why my wallet is growing steadily

ct5amr2ig1nfhp

Mintos have removed the 'number of loans available' section of the auto invest portfolio pages due to performance issues. They are working on improving it. It had been slow for a while and became unreliably slow, so I am glad they are working on it.

vargoo

Clara Sparse Windbreak wrote: »

Mintos have removed the 'number of loans available' section of the auto invest portfolio pages due to performance issues. They are working on improving it. It had been slow for a while and became unreliably slow, so I am glad they are working on it.

Thanks.

It is a dog slow site....actually it's becoming awful, click a filter, the cog spins for 10 seconds and the filter wasn't applied, happening all the time now.

vargoo

Anybody find any recent financials on the platforms themselves? Grupeer, peerberry, Twino etc

ct5amr2ig1nfhp

I have a query regarding Mintos and 'missing funds'. There is a thread on a german forum about this issue so I decided to do some calculations myself.

I currently have all my funds invested. I presumed if I took all my deposits, deducted my withdrawals and included my profit, it should equal or be close to my total invested funds. But I have a difference of a few hundred euro. Am I missing a value from my calculation, or more worryingly, am I 'missing funds'?

Shelflife

You'd imagine it should tally back all right. I checked mine but as I'm only at this a few months its bang on.

They'd hardly be that silly to be blatantly skimming accounts on such an obvious manner.

I'd be sending off an email to get them to explain the difference.

ct5amr2ig1nfhp

Yep, will do on Monday. Will take another look again tonight to double check my figures.

sKeith

If you put 100 euri into mintos, and invest in 10, 10 euro loans, total invested =100euro.

If one loan pays you back early and you now have 10.05 to spend, which you do, do you now have total invested of 110.05.

Deposits =100. Withdawls =0. Profits =0.05. Total invested = 110.05

ct5amr2ig1nfhp

If you re-invest the 10.05 returned, you still only have the 100 euro invested plus the 0.05 interest earned (100.05 total invested).

Grupeer have listed the "cumulative investment value" (110.05 in your example), but the value is useless in my mind.

Edit: Viventor also have a "ALL TIME TRANSACTIONS" section and the 'funds invested' value is at 75k in my example. Total useless to me. For the record I have a tiny fraction of that value actually invested.

sKeith wrote: »

If you put 100 euri into mintos, and invest in 10, 10 euro loans, total invested =100euro.

If one loan pays you back early and you now have 10.05 to spend, which you do, do you now have total invested of 110.05.

Deposits =100. Withdawls =0. Profits =0.05. Total invested = 110.05

retalivity

You can export transactions from mintos as a csv/xls, i did this before xmas and did some wizardry on it to pivot growth over time, country, etc. The balances checked out.

sKeith

ProjectMoose> In my mintos profile, overview's invested funds equals the figure for total outstanding principal, in the 'my investments' totals.
This does differ from the total of my investments, but by the exact figure in the total received payments total.

ct5amr2ig1nfhp

Thanks guys. I have tried that already and I have a few hundred euro difference no matter what I've tried. It's a strange one.

scheister

I had a quick look at my account.

Correct down to the cent. The one bit that threw me was cashback bonuses are seen as deposits.

What i did was copy it all into excel.

Calculate Deposits+cashback bonus-withdrawals - closing balance.
Filter out the above 4 from the excel and sum the turnover column and two amounts should match.

Above assumes not opening balance

vargoo

Clara Sparse Windbreak wrote: »

I have a query regarding Mintos and 'missing funds'. There is a thread on a german forum about this issue so I decided to do some calculations myself.

I currently have all my funds invested. I presumed if I took all my deposits, deducted my withdrawals and included my profit, it should equal or be close to my total invested funds. But I have a difference of a few hundred euro. Am I missing a value from my calculation, or more worryingly, am I 'missing funds'?

Mine is OK.

Theirs a comment (I'm guessing you seen) in the "recent news" "A trendsetting financial institution in Kosovo, Monego, has launched on Mintos" calling this a Tengo bug, I'm guessing Mintos will reply to it on Monday.

I didn't read the german Thread. I have used Tengo.

colm!_!

I've just recently been looking into p2p. What's the best website/company to use. Also how much initial investment does one need.

Thanks

sKeith

colm!_! wrote: »

I've just recently been looking into p2p. What's the best website/company to use. Also how much initial investment does one need.

Thanks

This thread has many good ones linted in it. Investing in reading this full thread would be well worth the time.

Most platforms have 10€ minimum, but the irish one has 50€ min.

colm!_!

Perfect cheers

Wegian

I took the plunge and deposited a small amount in Mintos yesterday having lurked here for a while
I set up Auto Invest and half my deposit was invested
I edited my Auto Invest and no further investment has been made despite it showing a significant amount of loans available that meet the criteria
Anyone experience this?
Perhaps it just takes time to work through the system...

scheister

I have been using mintos for last few year and Robo cash since this time last year. I have now added grupeer so i can spread the money across different sites.

ct5amr2ig1nfhp

Do you have the diversification setting enabled on the auto-invest profile? This can have unexpected results. You can disable this feature, or edit the diversification settings manually. I have it disabled myself.

Wegian wrote: »

I took the plunge and deposited a small amount in Mintos yesterday having lurked here for a while
I set up Auto Invest and half my deposit was invested
I edited my Auto Invest and no further investment has been made despite it showing a significant amount of loans available that meet the criteria
Anyone experience this?
Perhaps it just takes time to work through the system...

I think most people reading this thread would probably recommend Mintos as your first p2p platform. There are plenty of others mentioned in the thread that I would also recommend. See my signature for a short list of other p2p platforms, there are plenty of others. Also look at the Irish p2p platforms like linkedfinance, flender etc..

Always remember that 2p2 is high risk and only invest what you can afford to lose.

colm!_! wrote: »

I've just recently been looking into p2p. What's the best website/company to use. Also how much initial investment does one need.

Thanks

colm!_!

Thanks ProjectMoose.

Also, are there any originators I should go for or avoid

ct5amr2ig1nfhp

Not an easy one to answer to be honest.

Mintos have their own rating system and there are a few other third party sites that try to rate the originators. For example explorep2p.com have their own ratings page (mintos-lender-ratings/), updated only yesterday too. You will notice that some loan originators have very different ratings when you compare the two.

If you want to see how the whole platform works, investments, repayments, interest payments, late payments, finished investments etc, I suggest you try some of the short terms loans. Anything from a few days to 30 days. You will quickly see your profile updated with various figures.

Stick to loans with buyback guarantee for now. Make sure you have a read about the 'buyback guarantee', what is it worth if the loan originator goes belly up etc. (example Eurocent - google it) Remember most p2p platforms are unregulated but there are changes in the works within the EU anyway.

Other posters can jump in and lend their advice.

colm!_! wrote: »

Thanks ProjectMoose.

Also, are there any originators I should go for or avoid

colm!_!

ProjectMoose.

Nice one Cheers.

Wegian

Thanks Moose, I’ll try that

Edit: I have tried it and it worked almost immediately

P2PBanking.com

Clara Sparse Windbreak wrote: »

I have a query regarding Mintos and 'missing funds'. There is a thread on a german forum about this issue so I decided to do some calculations myself.

I currently have all my funds invested. I presumed if I took all my deposits, deducted my withdrawals and included my profit, it should equal or be close to my total invested funds. But I have a difference of a few hundred euro. Am I missing a value from my calculation, or more worryingly, am I 'missing funds'?

Same issuer was reported by some users on my German forum. There was a technical issue. Apparently it has been fixed meanwhile. If your problem still persists it is worth contacting Mintos support.

ct5amr2ig1nfhp

Hi there, Thanks for the input. I'll take a look at my figures in the morning.

May I ask if you are one of authors or contributors from P2P-Banking.com ?

P2PBanking.com wrote: »

Same issuer was reported by some users on my German forum. There was a technical issue. Apparently it has been fixed meanwhile. If your problem still persists it is worth contacting Mintos support.

P2PBanking.com

Clara Sparse Windbreak wrote: »

May I ask if you are one of authors or contributors from P2P-Banking.com ?

Yes, I am. I would have taken "P2P-Banking.com" as a user name, but the board software would not let me.

By way of introduction: I publish P2P-Banking.com and P2P-Kredite.com (german) since 2007. Since the same time I am investing on p2p lending marketplaces. I am diversified over about 15 marketplaces, but most are only small positions to gain first hand experience. My largest portfolios at the moment are at Mintos, Linked Finance, Bondora, Ratesetter (AUS), Estateguru, Fellow Finance and Iuvo.
You can read more details on my blog(s).

littlevillage

P2PBanking.com wrote: »

Yes, I am. I would have taken "P2P-Banking.com" as a user name, but the board software would not let me.

By way of introduction: I publish P2P-Banking.com and P2P-Kredite.com (german) since 2007. Since the same time I am investing on p2p lending marketplaces. I am diversified over about 15 marketplaces, but most are only small positions to gain first hand experience. My largest portfolios at the moment are at Mintos, Linked Finance, Bondora, Ratesetter (AUS), Estateguru, Fellow Finance and Iuvo.
You can read more details on my blog(s).

I have been reading your Website for some time now. Thanks for all the interesting information on P2P, especially Loan Volumes

Have about 1/3 of my entire investment portfolio now in P2P (Its more profitable than any thing else I do, but I am backing out slowly, due to fears it might just be too good to be true).

What if any risks do you see coming down the line for P2P lenders? Global recession leading to job losses and larger than expected numbers of loan defaults? or maybe problems with a major P2P portal leading to a chaotic exit by investors de-stabilizing the whole market ? (like we have seen in China)

P2PBanking.com

Obviously a recession will impact returns. The question is how much. And everybody has been saying that recession is right around the corner -- since about 3-4 years now.
The nearest comparable long term stats that can be used as an indicator is the return the credit card caompanies made on credit card debts. For the US and UK that data is available for several decades. And even recessions were profitable times for these companies.

My gut feeling is that a recession would impact platforms for property and SME loans harder than platforms for consumer loans.

I don't see the risk of widespread platform failures (like in China). But the failure of single platforms is a common occurance and to be expected. Examples in the past were Boober, Fairrates, Trustbuddy, Comunitae, Unilend, Bankless Life, ... just to name a few.

Concerning moving out. I exited Lendy last autumn, have much reduced Moneything and not adding anymore tow Ablrate. Thereby moved out of 2 of the 3 UK platform I used, mainly because I think that Brexit might add more negative factors then positive chances for their outcome. But I think the big three in UK: Zopa, Ratesetter and Funding Circle won't be much impacted by brexit.

vargoo

P2PBanking.com wrote: »

Obviously a recession will impact returns. The question is how much. And everybody has been saying that recession is right around the corner -- since about 3-4 years now.
The nearest comparable long term stats that can be used as an indicator is the return the credit card caompanies made on credit card debts. For the US and UK that data is available for several decades. And even recessions were profitable times for these companies.

My gut feeling is that a recession would impact platforms for property and SME loans harder than platforms for consumer loans.

I don't see the risk of widespread platform failures (like in China). But the failure of single platforms is a common occurance and to be expected. Examples in the past were Boober, Fairrates, Trustbuddy, Comunitae, Unilend, Bankless Life, ... just to name a few.

Concerning moving out. I exited Lendy last autumn, have much reduced Moneything and not adding anymore tow Ablrate. Thereby moved out of 2 of the 3 UK platform I used, mainly because I think that Brexit might add more negative factors then positive chances for their outcome. But I think the big three in UK: Zopa, Ratesetter and Funding Circle won't be much impacted by brexit.

Mintos are taking a bit of a battering in their own news comments section lately and no response from them...


I see people firing money into these platforms and the only thing they are checking is how high the interest rate is, one of the big (ish) ones hasn't released any figures for 3 years, they just stopped.

Another big (ish) one, lots of you use on here, again no figures and only thing I can find on the parent is, it is (or was) on the tax avoidance register in Latvia.

I can find reasons not to go near most of the sites, so I don't.

Maybe I just don't know how to find this info?? I've asked on here and elsewhere to no response so I'm guessing no one on here checks at all?? WTF like?










Maybe P2PBanking.com theirs a job for you, an article on the most recent financials on all of these platforms?

P2PBanking.com

vargoo wrote: »

Maybe P2P-Banking.com theirs a job for you, an article on the most recent financials on all of these platforms?

Thanks for the job offer. Quite a tedious work prospect.
If you are looking for discussion analysis of the (missing) annual reports of the individual Mintos loan originators there is quite a bit of that going on on the German Mintos forum at P2P-Kredite.com

To sum it up, there are some originators which supply detailed reports, some that have not filed for a while and some where no reports are available. There is also discussion about the losses some of these originators make.

ct5amr2ig1nfhp

A quick snapshot of the last few weeks:

PeerBerry - my auto-invest is acting up. I am seeing cash drag when there are plenty of loans available that match my auto-invest portfolio settings. Lot of loan availability, mostly short term 11% 2day to 30 days loans. There are 11.5 and 12% loans available every few days. There are longer term 12.4% 2 year loans available too.

Swaper - I continue to be fully invested, which is a nice change.

TWINO - A little cash drag lately. There appears to be plenty of loan availability early sat morning.

Viventor - no cash drag at all. Plenty of loan availability with rates 8% to 14%.

Grupeer - no cash drag in recent weeks. Nice to see a significant increase in loan availability. Loans available with rates 11% to 14%, terms 8 months to 12 months.

Lenndy - no cash drag but a very large volume of my 'First Finance' loans are 31-60 days late.

Robocash - no cash drag, although rates have been reduced to 12%. Plenty of loan availability it seems.

ViaInvest - a little cash drag. I am seeing a shortage in installment and short term loans. Lots of credit line loans available with viainvest borrower ratings 9.7/8 of 10.

FastInvest - no cash drag whatsoever. Plenty of loan availability. My auto-invest is picking up 13.5% EUR 6+month loans lately, although there can be 15% loans available from time to time.

Mintos - still the leader of the pack. approx. 330k loans available. Their website really needs work though, it has become very slow at times. Random login errors and sections of the website disappearing with no information as to why or when the sections will be back. I do understand that they are seeing a significant increase in users but that is no excuse in my mind. Support is excellent as always but expect to wait a couple of days for a response.

Envestio - only about 10 near loans in Jan and most loans are another tier of an already existing loan. I see a number of my short terms loans were paid back recently too with no issues or delays. Rates have dropped to 15-17% on average, they were significantly higher not so long ago (21+%).

EstateGuru - as mentioned previously, one of my loans is now in default and the bailiff is involved. Will keep and eye on this one.

I expect to increase my p2p portfolio in the next few weeks. Most likely Mintos, Viventor and ViaInvest.

chris2000

currently on Mintos and find it really good. Always large amount of loans to choose from and website is pretty good - albeit a little slow.

anyone have a large amount in Mintos - do they give any special treatment or breaks to their larger investors?

P2PBanking.com

There is said to be "Pro-Investor" status if you have invested more than 50K. I don't have that. here is what mintos officially says about that status:
https://www.mintos.com/en/pro-investor/

ct5amr2ig1nfhp

To save some of you having to follow the link, here's a summary of the pro-investor on Mintos:

- A pro-investor must have (or had) 50k invested
- A personal investment account manager (? not sure why you would want or need this?)
- Limited edition offers
- Early access to new features
- Custom made reports
- Top priority customer support

About sums it up.

Is anyone willing or able to give us a review of pro-investor status benefits. Is it worth it? Don't' be shy

Shelflife

The Pro Investor option wouldnt entice you to go for it would it now !

I had the same cash drag with Peer Berry but it seems to be resolved now.

All others are fully invested.

Envestio is slow but ive as much as I want in it, agree that the super rates seems to have eased back a bit.

Still cutting back on Fast invest just slowly reducing my exposure there until we find out a bit more about them.

Had two missed payments with Linked Finance , both flagged straight away and both resolved within a week so very happy with that .

Tidied up my autoinvest on Mintos based on the updated lenders report that Project Moose flagged (thanks for that moose)

Overall happy enough with my lot.

Just need to work on the Mintos Pro status now ! Do we get a badge if we reach it ?