P2P Lending

littlevillage

panoramix wrote: »

in the Filter settings of your auto invest policy, select Status = Current

Sorry, I should have been clearer. I have already set Status = Current.
Its actually the 'Remaining term' that is referred to as late.

I think there might be some kind of anomally ... whereby loans can be still picked up as 'Current' when they are less than 1 hour late. Might in fact be just something to do with 30d loans. Inevitably it works in Mintos/Originator's favour as I could now have to wait for 60 days for the buyback gaurantee to kick in.

Below is loan details.



Initial Term 30 d.
Remaining Term Late
Amortization Method Full
Listing Date 22.05.2019
Date of Issue 21.04.2019
Closing Date 21.05.2019
Status Current

P2PBanking.com

UK marketplace Lendy fails - now in administration
https://www.p2p-banking.com/countries/uk-uk-p2p-lending-marketplace-lendy-in-administration/

ct5amr2ig1nfhp

Did you have anything in Lendy yourself?

From searching a few forums, it appears they have been in trouble for a while?

P2PBanking.com wrote: »

UK marketplace Lendy fails - now in administration
https://www.p2p-banking.com/countries/uk-uk-p2p-lending-marketplace-lendy-in-administration/

P2PBanking.com

I started exiting in June 2018 and sold my last loan part in October 2018.
Did only write a german language post about my reasoning for exit at that time:
https://www.p2p-kredite.com/nach-ueber-3-jahren-gut-laufendem-lendy-investment-wird-mir-das-risiko-zu-hoch_2018.html

ct5amr2ig1nfhp

I'm amazed at the amounts some investors had invested in Lendy. Have a read on the Lendy forum at p2pindependentforum.com (here). Some posters had/have serious cash in the platform. Even taking some of the posts with a pinch of salt, :eek: :eek: Hopefully they get something back.

ct5amr2ig1nfhp

Viainvest have had a shortage of loans over the past few weeks. I reached out to support who explained that the shortage was due to repayment of a VIA SMS Group bond that was due. A few investors must have asked the same question, as there was an email sent around this morning. Thankfully I have noticed an improvement in loan availability the last week or so. This morning I can see ~250 11% loans and ~1250 9% loans available.

For those interested in investing with ViaInvest, you can find their financial reports (here). I've read the financial reports for 2016-2018 and the group has been profitable each year. They also have about 2 mil cash, which is a good sign. Figures are approx.

**

Mintos - for anyone invested in Mintos and wanting to maximise returns, make sure to have a read of explorep2p.com post (here) regarding the 'fine print' of the buyback guarantee. Take a look at your own loans and consider selling any late loans that do not pay interest on delayed periods or penalty interest/income. There is no point in having your funds tied up for upto 60 days waiting on the buyback and earning no interest. Get rid of them on the secondary market as soon as they move to the grace period.

Edit: Here is a detailed table of all the loan originators and if they pay income on delayed payments. Let the page load then switch from Overview to Details

ct5amr2ig1nfhp

Following up on above post on buyback guarantee. Here's a quick reference for anyone who might be interested. These change from time to time, so below is a snapshot from the website today 30-May-2019.

Note, some of the loan originators have multiple companies, so I've combined them into one line where possible. There are only two that are mixed yes/no, they are Hipocredit and mogo. Source: here

LOAN_ORIGINATOR INTEREST_ON_DELAYED_PAYMENTS PENALTY_INCOME
Hipocredit Yes / No Yes
mogo No Yes / No

Aasa Yes No
Akulaku Yes No
Alfakredyt Yes No
Banknote Yes No
BB Finance Yes No
Bino Yes No
Capital Service Yes No
Cashwagon Yes No
Creamfinance Yes No
Credilikeme Yes No
Credissimo Yes No
Credistar Yes No
Credius Yes No
Dineo Yes No
dineria.mx Yes No
Dozarplati Yes No
EcoFinance Yes No
eFaktor Yes No
Expresscredit Yes No
Extra Finance Yes No
GetBucks (Poland) Yes No
ID Finance Yes No
ITF Group Yes No
IuteCredit Yes No
KreditPintar Yes No
Kredit24 Yes No
KREDO.al Yes No
Kuki.pl Yes No
Kviku Yes No
Lendo Yes No
LFTECH Yes No
Lime Zaim Yes No
Metpokredit Yes No
MikroKapital Yes No
MONEGO Yes No
Mozipo Yes No
Peachy Yes No
PimPay Yes No
Placet Group Yes No
RapiCredit Yes No
Rapido Yes No
Sebo Yes No
simbo.dk Yes No
Tengo.kz Yes No
Tigo.mk Yes No
Varks.am Yes No
Vizia Yes No

Acema No Yes
Aforti Finance No Yes
Capitalia No Yes
Debifo No Yes
Fireof No Yes
1pm No No
AgroCredit No No
Cash Credit No No
Creamfinance (Latvia) No No
Dinero No No
EBV Finance No No
GetBucks No No
Watu Credit No No

ct5amr2ig1nfhp

I thought I might add my own example to illustrate the reasoning behind getting rid of any loans that are late and do not pay late interest payments.

Example:

I invest EUR 25 into a 30 day loan at 15.1%. My return after the 30 days is approx 30 cent. I not have EUR 25.30 to reinvest.

In an ideal scenario, my loan should have been re-invested automatically after each 30 days, plus any interest I had earned. So after the same 90 days, I should have ~ EUR 25.90

However, if the same loan was not paid back, I would have to wait an additional 60 days after my 30 day loan term for the the buyback to kick in. So after 90 days, I now have my EUR 25.30. Super! I have my money back but I've missed out on earning a return for 60 days. (30 x 2 months = 60 cent). I really wish I had that 60 cent!

Get rid of that loan as soon as it's marked "late". I'll put the loan up for sale and let a less savvy investor (or an investor with an auto-invest that is not 'fine-tuned') worry about having a loan for 60 days with no return for those 60 days. I want my initial investment back asap. But in my case, no other investor was interested in the loan. Was it because there was no discount?

I decided to put the loan back up for sale with a discount of 0.1% (that is -0.1%, don't forget the minus sign on Mintos). My EUR 25 loan would have an expected return on the secondary market of EUR 24.98 So another investor is getting a 'bargain'... a 2 cent discount.

Ok. I lose out on 2 cent but I would have EUR 24.98 immediately to reinvest, potentially earning upto ~60 cent for that 'buyback period' of 60 days.
And that's it really.

You can tweak the discount a bit, e.g a 0.5 to 1% discount (12.5 - 25 cent) I would imagine would sell within minutes.

I believe my logic and math are correct, let me know if there is anything wrong with the above example.

**Note: I have ignored grace periods. Figures are approx and for illustration purposes only.

vargoo

Have never bought into no interest on late loans, originator needs to change. Sometimes buy no buybck loans but only with collateral with loan to value (LTV) around <70% Grace days are ok up to 7 Days, if goes over that then interest on late loans activates.

ct5amr2ig1nfhp

I cannot edit my previous post. But wanted to included the link below. I found checking for late loans a PITA, so the below link saves me the hassle rebuilding my filter each time I want to review my loans.

Here is a directly link to your "My Investments" page with the above 13 loan originators (Acema to Watu Credit) EUR loans selected with all status excluding current. It saves me a few minutes setting up the filters, so it might be useful to others.
Note: You must be already signed in for the link to work. If you have to sign in after you click the link, you'll be redirected to an unfiltered page.

TheSheriff

I've been a lender on Twino for a number of years now - this evening I sold all outstanding loans on the secondary market and decided to exit the platform.

The returns (~6%) were never as competitive as the other platforms (mintos etc).

It's a pity, as I found it quite easy to use and particularly liked the app!

ct5amr2ig1nfhp

Will you invest your funds on another platform? Perhaps somewhere new? Or will you stick with a 'goto' like Mintos?

TheSheriff

Clara Sparse Windbreak wrote: »

Will you invest your funds on another platform? Perhaps somewhere new? Or will you stick with a 'goto' like Mintos?

I am not sure to be honest.

Go back one year and I would have had investments spread across Mintos, Twino, RoboCash, Grupeer and LinkedFinance.

I became a bit risk averse to P2P - likely the uncertainty associated with Brexit rumblings. The noise when Lendy when into administration added to this.

I've now reduced my platforms down to Mintos and LinkedFinance - actively trying to exit LF, but the absence of a secondary market makes it extremely difficult.

I will likely just stay with Mintos for the time being.

vargoo

TheSheriff wrote: »

I am not sure to be honest.

Go back one year and I would have had investments spread across Mintos, Twino, RoboCash, Grupeer and LinkedFinance.

I became a bit risk averse to P2P - likely the uncertainty associated with Brexit rumblings. The noise when Lendy when into administration added to this.

I've now reduced my platforms down to Mintos and LinkedFinance - actively trying to exit LF, but the absence of a secondary market makes it extremely difficult.

I will likely just stay with Mintos for the time being.

What affect would Brexit have?

ct5amr2ig1nfhp

Crowdfunding on un/secured loans and property in the UK I would imagine. If Brexit does tanks the economy, defaults will skyrocket.

RateSetter, Landbay, ThinCats,BridgeCrowd, Kuflink etc.

vargoo wrote: »

What affect would Brexit have?

TheSheriff

Clara Sparse Windbreak wrote: »

Crowdfunding on un/secured loans and property in the UK I would imagine. If Brexit does tanks the economy, defaults will skyrocket.

RateSetter, Landbay, ThinCats,BridgeCrowd, Kuflink etc.

Exactly - in my opinion Brexit is a complete curve ball for the P2P world, not because of direct effects, but rather its after effects on the general EU economy. IF (and its a big if) Brexit caused some kind of economic downturn then the P2P market could easily sink.

Not trying to scare monger here btw - these are just my thoughts.

littlevillage

TheSheriff wrote: »

Exactly - in my opinion Brexit is a complete curve ball for the P2P world, not because of direct effects, but rather its after effects on the general EU economy. IF (and its a big if) Brexit caused some kind of economic downturn then the P2P market could easily sink.

Not trying to scare monger here btw - these are just my thoughts.

I think the effects of Brexit on Britain might be substantial..... but I think it will have very little effect on other EU economies. (Ireland might be the exception because we have historically traded heavily with Britain and lazily used Britain as a land bridge to mainland Europe over the years....without setting up proper trade routes directly into Europe ourselves)

I don't have any P2P investments in Britain (or Ireland)

ct5amr2ig1nfhp

Lars Wrobbel is doing an interview tomorrow with Mintos con-founder and ceo Martins Sulte. tweet is here You can tweet questions for Lars/Martins using the hashtag #AskMintos

Might be worth throwing a few questions at Martins? What should we ask?

ct5amr2ig1nfhp

Mintos just announced another cashback campaign 'Summer Pre-Holiday Cashback Campaign'. Details in the Mintos blog here.

Varks, Tengo, MetroKredit, Peach, Monego, Lendo, Sebo, Kredo, Tigo, Kuki

Cashback % - loan term
0.25% - up to 3 months
0.5% - 3-6 months
0.75% - 6-9 months
1% > 9 months

Have a read of the blog for the full details. For the full 1%, you need to invest in any loan over 9 months.

vargoo

Clara Sparse Windbreak wrote: »

Mintos just announced another cashback campaign 'Summer Pre-Holiday Cashback Campaign'. Details in the Mintos blog here.

Varks, Tengo, MetroKredit, Peach, Monego, Lendo, Sebo, Kredo, Tigo, Kuki

Cashback % - loan term
0.25% - up to 3 months
0.5% - 3-6 months
0.75% - 6-9 months
1% > 9 months

Have a read of the blog for the full details. For the full 1%, you need to invest in any loan over 9 months.

They put all the turds in one basket!

retalivity

Meh, not worth chasing with extra money, ill let the autoinvest continue with what its doing and pick up anything extra from those by chance.

Ill have been on mintos a year from next weekend, did some numbers there. I initally invested 500 last summer, with further periodic deposits my total investment to date has been 6grand. The current interest/profit received on that is 332.24, which is an AER of around 10.5%. I withdrew 300 for an emergency which was easy enough to get by turnimg off the autoinvest and selling off a few loans over a few days, and the money was transferred to me relatively quickly. I manually invested a good chunk in longer, lower return agricultural, business and invoice finance loans to spread the risk.

Overall, pretty happy with it. Only ever invest in eur loans with buyback, about 20-25% of my loans at any given time are not 'current', and have never noticed any lag in payment etc as it keeps churning away. Will keep adding funds periodically, probably not as much as i diversify across stocks, commodities and other investments.

scheister

At the moment i have money in 5 sites

Linked Finance and Grid Finance (both winding down my interest, not much money in either and not worth touching until loans finished)

I have around €1,000-€1,100 in each of Mintos, Robo Cash and Grupeer. Trying to keep on the short term loans. I will be looking to use the money mid next year.

Robo.Cash seems to create little issue for me bar a large amount of loans run late
Mintos is similar to Robo.Cash only issue with Mintos just spotted 75% of my loans are with Varks atm so i have removed them from auto investment to reduce the amount.
Grupeer is the last site I have started using. It seems to be more longer term loans then the other 2. As a result later in the year i will move money from here to the other two so i can access shorter term loans.

Overall I like using P2P sites. Wish the Irish sites were a little better to use but what can you do. In the longer term i can see myself using it as a savings concept as the bank interest rates are dire.

ct5amr2ig1nfhp

Mintos unveiled a new product on Friday at the P2P conference "Invest & Access" (Mintos link). They are launching the product tomorrow.

Interesting development, particularly because you have instant* access to your invested funds. Also the Invest&Access invests before auto-invest or manual invest. (note the *, further details of the instant access are available in the above link)

p2p-banking.com have a review out now, you can find the review (here).

vargoo

Clara Sparse Windbreak wrote: »

Mintos unveiled a new product on Friday at the P2P conference "Invest & Access" (Mintos link). They are launching the product tomorrow.

Interesting development, particularly because you have instant* access to your invested funds. Also the Invest&Access invests before auto-invest or manual invest. (note the *, further details of the instant access are available in the above link)

p2p-banking.com have a review out now, you can find the review (here).

Stench of linked finance off that.

I wouldn't touch many originators on mintos, once an originator on site 6 months that is gonna fire peoples money into some risky places.

Their will be tears ahead for many when the next collapse happens and no point crying to mintos customer service, you signed your life away.

Linked didn't give a damn, they were getting their cut, good few ended up with defaults on here, could be the beginning of the end for mintos this.

ct5amr2ig1nfhp

I don't know vargoo. Mintos are breaking even and a little more.

I don't believe LF are in the same league. LF haven't made a profit in, what six years? They have lost millions in the last few years. I see they will not release their 2018 figure but instead have released 'alternative facts'...so what does that tell you?

Mintos are coming up to 2.5 billion loans funded. I believe with this new product, they could be 4 billion by the end of the year.

What do others think?

vargoo

Clara Sparse Windbreak wrote: »

I don't know vargoo. Mintos are breaking even and a little more.

I don't believe LF are in the same league. LF haven't made a profit in, what six years? They have lost millions in the last few years. I see they will not release their 2018 figure but instead have released 'alternative facts'...so what does that tell you?

Mintos are coming up to 2.5 billion loans funded. I believe with this new product, they could be 4 billion by the end of the year.

What do others think?

It'll get priority before your autoinvest, if it gets to stage where nothings left after "invest/Access" then I'm out anyway. I'd imagine the same for anyone with any clue.

So not the end of Mintos but end of my use of it anyway.

ct5amr2ig1nfhp

They have 350k loans on the primary market and more again in the secondary market. So combined about 700k loans. I don't think any other platform has that number of loans or loan originators.

I'm not trying to defend Mintos. I'm always sceptical of new products.

bohsman

Looks like a product I would use to be honest, my average annual interest is currently 10.77% according to Mintos, I dont really have the interest to spend hours tweaking auto invest and studying individual lenders.

P2PBanking.com

Clara Sparse Windbreak wrote: »

Mintos are coming up to 2.5 billion loans funded. I believe with this new product, they could be 4 billion by the end of the year.

What do others think?

Well my opinion is in the article you already linked
https://www.p2p-banking.com/process/marketing-new-product-mintos-invest-and-access-what-it-is-and-my-opinion/
BTW I added an interview video to that just now.


And yes, reaching 4 billion is quite possible


Can you enlightenme what you mean by 'alternative facts' regarding Linked Finance? thx.

vargoo

bohsman wrote: »

Looks like a product I would use to be honest, my average annual interest is currently 10.77% according to Mintos, I dont really have the interest to spend hours tweaking auto invest and studying individual lenders.

You deserve to lose so. And you will.