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Mintos (P2P Lending Platform)

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  • Closed Accounts Posts: 738 ✭✭✭at9qu5vp0wcix7


    Grecco wrote: »
    A lot of these loans are "Payday" type loans, risky but can be very profitable. But is getting a 12% return worth the risk? The originators of the loans would be charging a lot higher interest rate than that

    I have a large amount of the 1 month loans are 12.5%. The CAGR is actually very high if you reinvest instantly, much higher than longer term loans with a higher interest rate. The personal loans are also under buy-back guarantee, so there is no risk.


  • Closed Accounts Posts: 1,007 ✭✭✭Grecco


    I have a large amount of the 1 month loans are 12.5%. The CAGR is actually very high if you reinvest instantly, much higher than longer term loans with a higher interest rate. The personal loans are also under buy-back guarantee, so there is no risk.

    On these 1 month loans is the yield to maturity a lot less than the 12.5%?


  • Registered Users Posts: 391 ✭✭Yurple


    Can anybody please provide me with assistance on the auto invest function? I tried it but none of my deposited money in my account was used in the auto invest option. What am I doing wrong? I am brand new to this and love it so far.

    I have chosen 5 loans of 10 euro myself to test. This was manual. Auto invest was not used. This went well.

    My auto invest settings are: 50 euro portfolio size ( to do a first test) selected all loans and countries, 0 minimum funds in account. interest rate minimum 8.5% remaining loan term max 24 months (no minimum). buyback YES. LTV 80% and current loan status.

    What is wrong with this setup? The system wont tell me.

    Thanks in advanced.


  • Closed Accounts Posts: 1,007 ✭✭✭Grecco


    Have you activated the portfolio?


  • Registered Users Posts: 391 ✭✭Yurple


    Grecco wrote: »
    Have you activated the portfolio?

    Yes it is activated and was when there was 50 in the account. I left it there for about 5 hours but nothing happened.

    Then I manually found loans that fit the criteria and invested


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  • Registered Users Posts: 1,308 ✭✭✭scheister


    Yurple wrote: »
    Can anybody please provide me with assistance on the auto invest function? I tried it but none of my deposited money in my account was used in the auto invest option. What am I doing wrong? I am brand new to this and love it so far.

    I have chosen 5 loans of 10 euro myself to test. This was manual. Auto invest was not used. This went well.

    My auto invest settings are: 50 euro portfolio size ( to do a first test) selected all loans and countries, 0 minimum funds in account. interest rate minimum 8.5% remaining loan term max 24 months (no minimum). buyback YES. LTV 80% and current loan status.

    What is wrong with this setup? The system wont tell me.

    Thanks in advanced.

    Was something on said few pages back there is an issue if you use LTV as part of auto invest. For some reason LTV does not work with the auto invest function. *edit here is the post*
    Tried setting up auto invest profile and set an LTV value @70% and nothing was happening IE no investments where being made. So I queried this with Mintos, they state that I cannot set an LTV value as the primary market does not have any loans with this therefore I had to remove the 70% LTV altogether and it worked.

    What's the point of setting an LTV value if it cannot be used? Am I missing something completely abvious here?!?!. I checked the list of loans with the above and there where loads..........

    Anyone else experience this?


  • Registered Users Posts: 391 ✭✭Yurple


    scheister wrote: »
    Was something on said few pages back there is an issue if you use LTV as part of auto invest. For some reason LTV does not work with the auto invest function. *edit here is the post*

    Thank you very much. I put the ltv up as I thought it would work then. Sorry.

    I have deposited more and removed ltv


  • Closed Accounts Posts: 2,678 ✭✭✭lawlolawl


    A little over a month into investing on Mintos and Twino and i'm finding both to be pretty good.

    The auto-invest on them can be a little slow and shonky so i'm manually managing a lot of it. Going for 1-3 month loan terms in around the 10-12% bracket with buyback and i've had most paid of on time, some paid off early and about 10% late a week or two.

    Threw a bit into Bondora as well and i'm not too impressed with it. The auto-invest threw nearly all of my capital into 5 year long loans with stupidly high LTV and most of the loans it invested in are really poorly rated by the company's own metrics. Trying to sell them on the secondary market at the moment and get my money out to put it in Mintos and Twino.


  • Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    Grecco wrote: »
    A lot of these loans are "Payday" type loans, risky but can be very profitable. But is getting a 12% return worth the risk? The originators of the loans would be charging a lot higher interest rate than that

    They charge about 700% to consumers. It is high, but it is less than Wonga. Payday loans have high rates as the risk of default is high. But also the cost of providing loans are expensive

    I have seen that the interest rates loans are being cut to 9.6%. IMO avoid the personal loans with a barge pole

    IMO the invoice financing are the best. There is not a single default on them


  • Registered Users Posts: 391 ✭✭Yurple


    newacc2015 wrote: »
    IMO the invoice financing are the best. There is not a single default on them

    These do not have buyback guarantees is that right? They are still a good choice?


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  • Closed Accounts Posts: 738 ✭✭✭at9qu5vp0wcix7


    Yurple wrote: »
    These do not have buyback guarantees is that right? They are still a good choice?

    Since the slash on rates in personal loans I've been using invoice finance a lot more. The rates are often better, many of the companies have good credit scores, and I have had no issues with defaults - a couple were late but I received delayed interest and late payment fees at the agreed rate.


  • Closed Accounts Posts: 1,007 ✭✭✭Grecco


    Is there something up with banknote loans? I heard that they may not be able to honor the loan guarantees if the defaults rise much more?
    Are they in trouble?


  • Registered Users Posts: 146 ✭✭letitroll


    Grecco wrote: »
    Is there something up with banknote loans? I heard that they may not be able to honor the loan guarantees if the defaults rise much more?
    Are they in trouble?

    source?


  • Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    Yurple wrote: »
    These do not have buyback guarantees is that right? They are still a good choice?

    Some actually do. A lot dont. But would you rather invest in a loan charging 700% interest rate to some poor Georgian or a higher rate interest with a buy back guarantee to a vitamin producer who is wanting on a business with a turnover of €100m to pay?

    I stopped investing in personal loans as about 20% of mine are close to 60 days default. IMO it screams liquidity problems with the company


  • Closed Accounts Posts: 2,678 ✭✭✭lawlolawl


    Twino are now offering loans without a buyback guarantee that have a higher interest rate than the rest of their loans which all previously had buyback.


  • Registered Users Posts: 391 ✭✭Yurple


    Hi all,

    My first few investments on mintos, got 4 people that paid early - got my money back + interest. That's great.

    Now I reinvested the amounts from the 4 that paid back on 4 completely different loans --- all were due to repay the full amount today... but did not. They now marked as LATE...

    Really terrible result for my first 8 investments... 4 out of 8 are LATE. Is this normal? They have buyback guarantee so hopefully i get my money back?

    Worried..


  • Closed Accounts Posts: 2,678 ✭✭✭lawlolawl


    Yurple wrote: »
    Hi all,

    My first few investments on mintos, got 4 people that paid early - got my money back + interest. That's great.

    Now I reinvested the amounts from the 4 that paid back on 4 completely different loans --- all were due to repay the full amount today... but did not. They now marked as LATE...

    Really terrible result for my first 8 investments... 4 out of 8 are LATE. Is this normal? They have buyback guarantee so hopefully i get my money back?

    Worried..

    I've had a few late recently and they were all paid off eventually, a couple with a few cent late payment fees on top as well :D

    Worst case scenario is that you'll have to wait for the buyback to kick in to get your money back.

    Late repayment happens, it's part of the whole P2P lending experience.


  • Registered Users Posts: 391 ✭✭Yurple


    lawlolawl wrote: »
    I've had a few late recently and they were all paid off eventually, a couple with a few cent late payment fees on top as well :D

    Worst case scenario is that you'll have to wait for the buyback to kick in to get your money back.

    Late repayment happens, it's part of the whole P2P lending experience.

    Thanks for that! I checked the account again today. All late payments have been paid...! Sorry i'm new to this and was a little bit suspicious... and a small bit worried.

    All good now.

    Auto invest immediately reinvested the money in a range of new loans. I think this is great!


  • Registered Users Posts: 259 ✭✭lcwill


    Yurple wrote: »
    Hi all,

    My first few investments on mintos, got 4 people that paid early - got my money back + interest. That's great.

    Now I reinvested the amounts from the 4 that paid back on 4 completely different loans --- all were due to repay the full amount today... but did not. They now marked as LATE...

    Really terrible result for my first 8 investments... 4 out of 8 are LATE. Is this normal? They have buyback guarantee so hopefully i get my money back?

    Worried..

    This is why it's good to start small - a few investments at the minimum bid until you get a feel for it.

    Some are early, some late, some on time.

    Only choose loans with a buyback guarantee until you can think of a good reason not to.


  • Closed Accounts Posts: 2,678 ✭✭✭lawlolawl


    lcwill wrote: »
    This is why it's good to start small - a few investments at the minimum bid until you get a feel for it.

    Some are early, some late, some on time.

    Only choose loans with a buyback guarantee until you can think of a good reason not to.

    Honestly, I say go with buyback loans all the time.

    The loans without buyback I spoke about on Twino that were recently introduced are around 13% interest compared to 10-12% on a lot of the ones I already have with buyback.

    Seems a bit pointless to take the extra risk for a mere ~2%. I could understand if they were offering around 15% on them.


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  • Closed Accounts Posts: 1,007 ✭✭✭Grecco


    lawlolawl wrote: »
    Honestly, I say go with buyback loans all the time.

    The loans without buyback I spoke about on Twino that were recently introduced are around 13% interest compared to 10-12% on a lot of the ones I already have with buyback.

    Seems a bit pointless to take the extra risk for a mere ~2%. I could understand if they were offering around 15% on them.

    The difference between the default rate and the loan guarantee is around the same as the default rate of these loans
    Question is, how good is that Guarantee? If they get too many defaulters than my guess is the Guarantee won't be worth the paper its written on so you would then have been better off with the higher interest of the unguaranteed loan and cover the losses yourself with the extra percent earned.


  • Registered Users Posts: 82 ✭✭Chiarrai92


    Got a email yesterday saying there was a new company callen lendo doing personal loans on mintos so i logged in and theres hundreds of loans all @ 14% intrest. Today i logged in and there isent even 1 loan from them on the website.. Any idea whats going on there?


  • Registered Users Posts: 1,667 ✭✭✭Frynge


    Chiarrai92 wrote: »
    Got a email yesterday saying there was a new company callen lendo doing personal loans on mintos so i logged in and theres hundreds of loans all @ 14% intrest. Today i logged in and there isent even 1 loan from them on the website.. Any idea whats going on there?

    All the people lending on mintos have lent their money to these loans.


  • Registered Users Posts: 1,308 ✭✭✭scheister


    Chiarrai92 wrote: »
    Got a email yesterday saying there was a new company callen lendo doing personal loans on mintos so i logged in and theres hundreds of loans all @ 14% intrest. Today i logged in and there isent even 1 loan from them on the website.. Any idea whats going on there?

    there is a few on the secondary market but each loan is only few hundred so one two bidders and the loan is fully subscribed. think you will need to be quick to get these loans at the start


  • Registered Users Posts: 1,308 ✭✭✭scheister


    Just wondering if their is a way to have more then one auto invest going at one time and a way to order them.

    for example i have two auto invests set one to invest in the new lendo loans and a second that invests in buy back loans of up to 18 months giving more then 10%.
    If possible want to set it to look for lendo loans first


  • Registered Users Posts: 81 ✭✭spudwould


    Good morning everyone ;)

    Well I have been kindly directed here by Katawalah from the Linked Finance Forum and it has been good/informative reading.

    So far I have noticed that 99% or dare I say 100% of investors are happy with Mintos and the way their investments are plodding along.
    I have been investing in Mintos for the last 14 months or so ... and these days I am only investing in 1 month loans(Buyback guarantee) albeit @ 1% interest rate.
    But by my reckoning with the reinvesting of interest this amounts close to 15% per annum! For me this seems to be the best strategy .. but I would like to know from other investors what their strategy is and what returns they are receiving.

    Also I am not a fan of auto0bid and never use it .. may be this is not a wise decision?


  • Closed Accounts Posts: 738 ✭✭✭at9qu5vp0wcix7


    spudwould wrote: »
    Good morning everyone ;)

    Well I have been kindly directed here by Katawalah from the Linked Finance Forum and it has been good/informative reading.

    So far I have noticed that 99% or dare I say 100% of investors are happy with Mintos and the way their investments are plodding along.
    I have been investing in Mintos for the last 14 months or so ... and these days I am only investing in 1 month loans(Buyback guarantee) albeit @ 1% interest rate.
    But by my reckoning with the reinvesting of interest this amounts close to 15% per annum! For me this seems to be the best strategy .. but I would like to know from other investors what their strategy is and what returns they are receiving.

    Also I am not a fan of auto0bid and never use it .. may be this is not a wise decision?

    I've been using this strategy too. As the 1 month personal loan interest rates have dropped, I have moved more into invoice financing. Not only is the return higher, I actually have less issues with delayed payments despite no buyback guarantee.

    I'm very happy with Mintos, €10 minimum bid, thousands of loans and instant investment mean that money is never gathering dust in your account, unlike other platforms. I've had no issues with bad debt yet - and I never go over €10/loan, so it will never be of major impact on my overall returns.


  • Closed Accounts Posts: 2,678 ✭✭✭lawlolawl


    I've only been using Mintos for a couple of months and I also go for the short term loans, 1-3 months with buyback. No problems so far and I'm very happy with it. I have a few quid in twino as well and I'm similarly pleased. I'll be investing more in both.

    I have money in bondora too but I'm in the process of selling up and getting out. Don't like the interface and the loans themselves are rather dodgy in a lot of cases. Crazy high LTV and mostly 4-6 year terms.

    I look at the linked finance thread and the site and I reckon you'd need your head checked to invest on any of the loans there.


  • Registered Users Posts: 1,308 ✭✭✭scheister


    I see a new lender as been added this morning agrocredit. Seems to be financing farms though the farming season. One loan on site at the moment, with a full payment at the end rather then payments along the line. 59 day loan length.


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  • Closed Accounts Posts: 738 ✭✭✭at9qu5vp0wcix7


    scheister wrote: »
    I see a new lender as been added this morning agrocredit. Seems to be financing farms though the farming season. One loan on site at the moment, with a full payment at the end rather then payments along the line. 59 day loan length.

    At 8% interest rate you would see a 6% annual return if you constantly invested year round - this is around half of that seen in invoice loans. The LTV looks good though.


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