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Mintos (P2P Lending Platform)

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  • Registered Users Posts: 16,658 ✭✭✭✭y0ssar1an22


    Thanks for the info newacc2015. Few other questions....

    1. do you guys take the country into account? ie: would a loan going to denmark be less risky than a loan going to latvia?
    2. how much would you recommend putting in? 1,5,10, 20k?
    3. primary or secondary market?
    4. what recourse is there in case of bad debt?
    5. do you take the loan originator into account?

    @grecco. its just nice to get peoples opinion from boards. of course i will do my own research but advice from people i trust (as far as you can trust someone you dont know :pac:) is important too.

    anyway, thnaks for the feedback.


  • Registered Users Posts: 909 ✭✭✭sceach16


    Remember, you may not agree with everything you read (and people may not agree with your viewpoint), but you can talk it out as long as you attack the post and not the poster.
    Grecco wrote: »
    Thats great advice, Clown!

    ..
    ..
    I`m only touching tip of the Iceberg here, so instead of looking for investment advice from some unknown random internet Clown go and do a bit yourself!

    Extract from Linked introduction to each feed

    "Remember, you may not agree with everything you read (and people may not agree with your viewpoint), but you can talk it out as long as you attack the post and not the poster. "

    Helpful comments are always welcome.


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


    Ok if someone gives a stupid one piece of advice encouraging them to put their money into such an investment must be trying to be funny,
    funny like a Clown. What else can you say about this post.
    I have always tried to be helpful, I get annoyed when people come on here to do their research. Take any advice found here with a large dose of salt.
    If you cannot grasp whats on offer from mintos then you should be putting your money there until you do.
    Finally as its not easy to find out who owns Mintos I can tell you that
    Mintos is indeed under ownership of the same people/group who work as originators ;)


  • Registered Users Posts: 1,152 ✭✭✭reni10


    Severe lack of investable loans with Buyback available on Mintos for the last week or so!

    There basically are no loans above 10% with buyback under 12 months, not sure if this is a sign of things to come there with decent Buyback loans all now well under 10% which makes Mintos much less attractive to me...


  • Registered Users Posts: 2,855 ✭✭✭Nabber


    thinking about putting some money into this. can anyone give me any tips/advice please?


    I took the plunge on Mintos, a small amount of 1000€ (not to belittle 1k)

    I haven't looked into it as deeply as Grecco.
    But from my other portfolios, it obvious that +10% ROI will have its risks.
    I also invested the same in Linkedf and twino.

    In terms of user friendly I'd rate them
    Mintos
    Twino
    LF

    LF have gone to the dogs, I really dislike the course they are taking.

    You should also weigh up the return you will get after tax. And if you can have your investments tied up in +12month loans.

    Look at spreading your investments in small amounts.

    I don't take any buy back loans as I prefer the higher rate and accept the higher risks.
    But this is more of a hobby than an investment. If I was to invest as part of my a retirement plan, I'm sure I'd be all over buy back loans ðŸ‘ðŸ‘


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


    I'm getting a bit squirelly about Twino now.

    Not a whole lot of new loans showing up in the 3-6 month ranges and any of them that appear are all 10% return. I have money sitting in the account now and nothing to invest it in for nearly a week :mad:


  • Registered Users Posts: 861 ✭✭✭tomwaits48


    I've pulled away from Mintos myself, I haven't been burned but I do get nervous about the sheer volume of loans that are late.


  • Closed Accounts Posts: 738 ✭✭✭at9qu5vp0wcix7


    I'm having a torrid time with late loans, with 2 in default. One was invoice financing, while the other was a car loan. The car loan has an LTV of 60%, and the car has now been repossessed :O


  • Registered Users Posts: 1,361 ✭✭✭dougee19


    Have had 3 investments go past the 60 day marker now this week, one was almost fully repaid but the other 2 had 0 given back. Thank **** for buy back guarantee!!!!!!!!

    It sucks when I know my money was just doing nothing for 3 whole months, but getting the money back is freaking lovely. Just gotta hope it happens soon


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


    Same problems at Twino again this week.

    No short term loans available since the past weekend :/


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  • Registered Users Posts: 1,361 ✭✭✭dougee19


    Is it better to invest in a 12 month loan at 11% and keep reinvesting or a 36 month loan at 12%


  • Registered Users Posts: 114 ✭✭mashed13


    dougee19 wrote: »
    Is it better to invest in a 12 month loan at 11% and keep reinvesting or a 36 month loan at 12%

    income at the end of year 3 will be the same (mind 1% difference), I believe there are adv and dis for both long and short term loans.

    Depends for how long are you willing to tie your money in, how secure the load seems t be, is there buyback on any of them ?

    Im still quite a newbie on P2P field, but so far I prefer short term 3-12months, only part of my funds 20-30% are tied in anything over 12months


  • Registered Users Posts: 2,959 ✭✭✭littlevillage


    Hi guys,

    am looking to take the plunge into Mintos. Need to get a better return on my investment than the paltry 1% you get in Irish banks. Linked Finance is getting a very bad rap on Boards but Mintos seems to be well liked.

    While reading the comments and reviewing Mintos website a question that has bothered me ?

    Why does the payment amount on the 'Payment Schedule' go up each Month for the borrower.? I would have thought it would be the same amount per Month for the duration of the loan.?

    Also I note some loans have a Balloon payment at the end.

    Do these not mean the likelihood of the borrower defaulting increases with the life of the loan?


  • Registered Users Posts: 2,959 ✭✭✭littlevillage


    lawlolawl wrote: »
    So, i threw a few hundred into Mintos, Twino and Bondora as a tester earlier on today (will probably put in a good bit more if things work out) and i know i'll only be earning pennies but i'm just curious as to how taxation of any income i earn on loans will be handled?

    I'm a PAYE worker so do i just submit it as another income through the revenues online thing when the time comes?

    I'm new to this investment lark, as might be obvious :D

    How do you rate Mintos v Twino ? Both Latvia based. The only difference I see is that Twino has a faster buy-back on defaulted loans, 30 days as opposed to 60 on Mintos.

    Does Bondora offer guaranteed buy-back on defaulted loans ? its unclear from their website?


  • Registered Users Posts: 2,959 ✭✭✭littlevillage


    Going to give this thread a bump in order to maybe get some feedback to some questions asked recently.

    A further question I have is. What is the additional risk in investing in different currency investments. For example on Mintos, I see personal loans to Georgia for 10-12% if they are in Euro, but they are upto 17% return if they are in Lari. Surely the only extra risk is if the currency fluctuates wildly in the wrong direction ? or am I missing something.

    Just to add to previous post Re : comparison of Mintos v Twino. Over the past week (yes, quite a short window of observation) there seems to be far more loans and at generally better rates of return on Mintos.

    Your thoughts ?


  • Registered Users Posts: 259 ✭✭lcwill



    Does Bondora offer guaranteed buy-back on defaulted loans ? its unclear from their website?

    No buyback on Bondora loans unfortunately - and you get peanuts if you try and sell defaulted loans on the secondary market - that's my experience at least.


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



    Just to add to previous post Re : comparison of Mintos v Twino. Over the past week (yes, quite a short window of observation) there seems to be far more loans and at generally better rates of return on Mintos.

    Your thoughts ?

    I started getting a bit worried about Twino over the past couple of months and this entire past week and a bit they had literally zero new loans coming that met my usual criteria.

    Just this morning i sold on all my outstanding loans on the secondary market there and they were getting hoovered up by peoples autoinvests as i was listing them. It took about half an hour to list and sell on about 100+ loans.

    Something odd is going on over at Twino and i'm just praying my withdrawal actually goes through now.

    Mintos is going from strength to strength. Plenty of loans added daily, with a variety of term lengths and decent returns.


  • Registered Users Posts: 563 ✭✭✭sonyvision


    Overall very happy with Mintos.

    All investments set up buy backs and aim for 0-6 months. Autoinvest feature is great, works as should for me. Loans become late 60 days the buy back has always kicked in. I noticed if you check the investment state and loan ref. You see the buy back amount for the loan, plus the interest you should earn plus the late interest on the principle due to it been 60 days late.

    Started in August put in 50€, then 100€ and so on. Interest rate is about 12.37%.

    Looking at investing in different currencys. Look at GEL this morning loads are at 17% intested under 30 days with buy back. There is a 2% commiccion fee on currency exchange that should be noted.


  • Registered Users Posts: 2,959 ✭✭✭littlevillage


    sonyvision wrote: »
    Overall very happy with Mintos.

    All investments set up buy backs and aim for 0-6 months. Autoinvest feature is great, works as should for me. Loans become late 60 days the buy back has always kicked in. I noticed if you check the investment state and loan ref. You see the buy back amount for the loan, plus the interest you should earn plus the late interest on the principle due to it been 60 days late.

    Started in August put in 50€, then 100€ and so on. Interest rate is about 12.37%.

    Looking at investing in different currencys. Look at GEL this morning loads are at 17% intested under 30 days with buy back. There is a 2% commiccion fee on currency exchange that should be noted.


    I think it only makes sense to invest in foreign currency if you intend to keep investing over a period of time. Otherwise the commission charge for changing currencies will eat up your profits. GEL is the worst, 2% commission to change. But others like CKK is only .5% charge.


    lawlolawl .....
    Twino has loans but the rate of return is generally not as good as Mintos. I am continuing to invest in Mintos but have stopped injecting new cash into Twino until things improve.


  • Banned (with Prison Access) Posts: 87 ✭✭iguot


    If mintos disappears over night, does your money go with it? Or how is it set up? How much have you invested with them?


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  • Closed Accounts Posts: 492 ✭✭The Cuban


    iguot wrote: »
    If mintos disappears over night, does your money go with it? Or how is it set up? How much have you invested with them?

    Not so much if they disappeared but if they went bankrupt, then the first in line to get any money back are the Senior Bondholders, then every other tom dick and harry before you.


  • Banned (with Prison Access) Posts: 87 ✭✭iguot


    How are they doing financially?


  • Registered Users Posts: 2,959 ✭✭✭littlevillage


    The Cuban wrote: »
    Not so much if they disappeared but if they went bankrupt, then the first in line to get any money back are the Senior Bondholders, then every other tom dick and harry before you.

    Have done a bit of research and took the plunge and invested a lump of my own hard earned in Mintos and Twino there a few weeks ago.

    Yes, I think the risk of these companies going belly-up and losing my entire investment is very real. But it will probably only follow some stagnation in the peer-to-peer market which shows no signs of slowing down yet. Both Mintos (1015) and Twino(2009) are relatively new companies and seem to be experiencing very rapid growth.

    Both companies seem to be simply market places where other companies ( loan originators) can sell debt. So even if the marketplace company went bust you would still own the debts with the originators. The Market place companies do own stakes in all the loan originators that they facilitate and may in fact own some of them outright.

    They do abide by certain regulations including yearly audits by accountants and financial returns.

    In conclusion, its a bit hard to know really...... Both these companies are based in Latvia where the financial services regulatory environment is probably a bit more relaxed than here (and remember what happened here ???)

    It wouldn't be the place to be investing your entire life savings...but at upwards of 10% per annum return its a nice punt on the side.

    You will be taking the same or even bigger risks with Irish or any of the UK peer-to-peer lenders for a lesser return.


  • Registered Users Posts: 5,510 ✭✭✭Wheety


    There was an email from Mintos today saying they're going to be clearer on personal loans. You'll now know if it's a high interest, short term 'payday' loan or a normal personal loan.


  • Registered Users Posts: 2,959 ✭✭✭littlevillage


    Yep,

    Mintos are adding a bit more details about Personal Loans. Will inform investors a bit more regarding the type of loan at a glance, useful if investing without the Guaranteed buyback.

    Bit disappointing at the moment as I have a bit of cash to invest and best guaranteed loans on Mintos are down at 11.1% and best guaranteed loans on Twino are only 10% :-( a couple of weeks ago both had guaranteed loans of 12%.


  • Registered Users Posts: 82 ✭✭Chiarrai92


    Has anyone used the currency exchange on mintos yet?
    Stubled across lendo 1 - 2 month personal loans with buyback guarantee offering 17% intrest in Georgia i think

    Seems almost too good to be true dosent it?


  • Registered Users Posts: 2,959 ✭✭✭littlevillage


    Chiarrai92 wrote: »
    Has anyone used the currency exchange on mintos yet?
    Stubled across lendo 1 - 2 month personal loans with buyback guarantee offering 17% intrest in Georgia i think

    Seems almost too good to be true dosent it?


    See my post #170 where I discuss this.


  • Registered Users Posts: 1,022 ✭✭✭Peter File


    I have joined both twino and mintos recently in search of yield. So far after 1 month 26% of my twino investment is in arrears (with full payment guarantee).
    With mintos my initial investments included a few invoice financing loans which both seem to be going south with 30 days and 15 days arrears so far. If I list them on the secondary market will I have to take a big hit to offload them?


  • Closed Accounts Posts: 738 ✭✭✭at9qu5vp0wcix7


    Peter File wrote: »
    I have joined both twino and mintos recently in search of yield. So far after 1 month 26% of my twino investment is in arrears (with full payment guarantee).
    With mintos my initial investments included a few invoice financing loans which both seem to be going south with 30 days and 15 days arrears so far. If I list them on the secondary market will I have to take a big hit to offload them?

    A lot depends on the grade of the loan and if there is an LTV or some form of guarantee. I personally have stopped investing in "Invoice Financing" - the source of my only defaults. I reckon that by staying away from unsecured loans that my annual return is actually about the same - defaults really cut into your profit.


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  • Registered Users Posts: 1,056 ✭✭✭IK09


    Hey

    I just deposited and invested in my first series of loans. Nothing serious, €200 total. €100 of loans I hand picked myself, and €100 in the auto invest portfolio feature.

    Question: Everyone has their own preference towards a particular set of investment criteria. The auto invest feature satisfies most of my criteria, I am just wondering if I can drill a little further down into the information provided to reduce my risk. What I want to do is set a criteria based around age, sex and employment status. Can this be done? I would prefer the loans I invest in to be employed females between the age of 35-55. Not 19 year old unemployed males in Spain.

    Thanks for the help.


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