nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Child Item

Mintos (P2P Lending Platform)

at9qu5vp0wcix7

Due to popular demand, a Mintos discussion thread.

Find more posts tagged with

Quick Links

Comments

sonyvision

Shauny2010 wrote: »

Is it income tax or dirt tax at 33%?

Also would I be right in saying that while you may have for example €1000 profit from a €10k loan but made a €500 loss from say a loan that went bad, you still are accessed for the profit of €1000 as you cannot write off the bad loan against the profit???

I would be more inclined to think it is Dirt rather then Income tax. If it was CGT it be even better as you can use a 1.2k allowance each year and write off losses against future earnings.

Search revenue website but I can't find anything solid. The Irish company Linked Finance don't offer much steer either from what I remember.

Shauny2010

Mylah Repulsive Bicycle wrote: »

Tax liability...eh sure :pac:

In all serious though, you are liable for income tax on any interest earned.

Is it income tax or dirt tax at 33%?

Also would I be right in saying that while you may have for example €1000 profit from a €10k loan but made a €500 loss from say a loan that went bad, you still are accessed for the profit of €1000 as you cannot write off the bad loan against the profit???

ct5amr2ig1nfhp

Tax liability...eh sure :pac:

In all serious though, you are liable for income tax on any interest earned.

sonyvision

Mylah Repulsive Bicycle wrote: »

Final cashback from the promo deposited today. Nice while it lasted

Does anyone see themselves increasing their position in Mintos this year?

At the moment no, I will start withdrawing funds over the net fews months for personal reasons.

On another note given the year is over, whats the tax liability I assume it is dirt at 39% payment on interest earned

ct5amr2ig1nfhp

Final cashback from the promo deposited today. Nice while it lasted

Does anyone see themselves increasing their position in Mintos this year?

ct5amr2ig1nfhp

Doesn't look like they extended the cashback offer. Banner on the main page is gone as well.

I hope I can pick up some discounted Secondary Market loans over the next few weeks. I nearly have my return back to 12.5%

scheister

Mylah Repulsive Bicycle wrote: »

Another payment today related to the cashback reward. Guessing there will be one more early next week.

It will be interesting to see if there will be any serious dumping of the longer term loans once the offer ends. Could be a good chance to pick up discounted loans.

wonder if their is any change they will extend it or keep some form of it going

ct5amr2ig1nfhp

Another payment today related to the cashback reward. Guessing there will be one more early next week.

It will be interesting to see if there will be any serious dumping of the longer term loans once the offer ends. Could be a good chance to pick up discounted loans.

scheister

nice to see you can now run multiply auto invest wallets at the same time. trying to build up my portfolio again so auto invest is great especailly when I only deal in buy back loans

Shauny2010

lcwill wrote: »

I'm trying to get out of Bondora at the moment. All current loans sold immediately at 0% discount, anything delayed is not shifting at all even at 30% off. 0.5% discount sounds like a dream.

I am thinking to keep Mintos and LinkedFinance as my only two P2P accounts.

Sorry forgot to add that all loans are guarantee buy backs. I never invested in the unsecured loans as I thought it too risky.
Having said that, I'm sure if all the buyback loans failed then the guarantee would be worthless too

ct5amr2ig1nfhp

Cashback reward credited earlier, happy days

lcwill

Shauny2010 wrote: »

ShoulderChip wrote: »

Unless I am doing something wrong I am having trouble selling any of my loans (0 discount /premium)

You will not sell a loan on the secondary market unless its an old one with a great interest rate.
I sold off all my loans that were 24 months+ but I had to give between 0.5% and 1% discount

I'm trying to get out of Bondora at the moment. All current loans sold immediately at 0% discount, anything delayed is not shifting at all even at 30% off. 0.5% discount sounds like a dream.

I am thinking to keep Mintos and LinkedFinance as my only two P2P accounts.

ct5amr2ig1nfhp

Support said they would process the cashback once a week.

brianomc

Yurple wrote: »

Does anybody know what status or name the cashback money shows up as in the account statement page?

It shows up as "Deposits".

Has anybody got a second or more payment of them yet? I got one last Tuesday and that's been it so far.

Yurple

Does anybody know what status or name the cashback money shows up as in the account statement page?

ct5amr2ig1nfhp

Much needed performance improvement to the website today. Very snappy.

ct5amr2ig1nfhp

I would guess that most people are buying new loans while Mintos offer cashback. There will probably be a dump of loans onto the secondary market in Jan.

Shauny2010

ShoulderChip wrote: »

Unless I am doing something wrong I am having trouble selling any of my loans (0 discount /premium)

You will not sell a loan on the secondary market unless its an old one with a great interest rate.
I sold off all my loans that were 24 months+ but I had to give between 0.5% and 1% discount

ShoulderChip

soirish wrote: »

How liquid is the secondary market? Thinking about selling some of my long-term loans.

Unless I am doing something wrong I am having trouble selling any of my loans (0 discount /premium)

soirish

How liquid is the secondary market? Thinking about selling some of my long-term loans.

sonyvision

dingdong1234567 wrote: »

Without being nosey, what levels of investment are people putting into Mintos? 3,4 even 5 figure sums? I myself have just over €1100 invested at 12% return. So quiet happy however, I would like to see what peoples general investment thoughts are in terms of outlay etc.

Again, nobody has to disclose anything they do not want here folks. Thanks in advance.

I have about 3.5k getting 12% and another 500 in linked finance, putting alot into a share scheme option through the job.

Squozen

dingdong1234567 wrote: »

Without being nosey, what levels of investment are people putting into Mintos? 3,4 even 5 figure sums? I myself have just over €1100 invested at 12% return. So quiet happy however, I would like to see what peoples general investment thoughts are in terms of outlay etc.

Again, nobody has to disclose anything they do not want here folks. Thanks in advance.

I've invested a little over €20k since early September with similar returns to yourself.

dingdong1234567

Without being nosey, what levels of investment are people putting into Mintos? 3,4 even 5 figure sums? I myself have just over €1100 invested at 12% return. So quiet happy however, I would like to see what peoples general investment thoughts are in terms of outlay etc.

Again, nobody has to disclose anything they do not want here folks. Thanks in advance.

ct5amr2ig1nfhp

I see Capital Service are buying back higher interest loans (14%). They have bought back only my 14% loans, leaving me with all of the 12% loans.

Similar craic to what Hipocredit did recently. While allowed by the T&Cs, it still seems unfair. I see there are now only 12% Capital Service loans available. I wonder if this was prompted by the cash back offer?

littlevillage

The loans by new lender Bino.lv are going to work in the exact same way as MOGO latvia.

I have put a question on the Site Forum to see what they will say about whether or not this increses risk for investors.

littlevillage

I see there is some changes with MOGO in Latvian market. Basically a new holding company Mintos OU will now deal as a middleman between MOGO and Mintos/Lenders

"Investors making investments according to the new structure will still gain exposure to Mogo-issued loans. Previously, investors had a direct claim against the final borrower; now, investors will have a claim against the loan originator – Mogo"

in other words should MOGO fail ... the investors will not have a direct claim against the borrower and will be left to swing in the wind...completely at the discretion of the appointed liquidator etc.

If I was to put on my cynical hat, I would think this was done to side-step some new regulations that have come into place in Latvia....and will be the model used by Mintos to get around regulations in other countries in the future. Any Thoughts ?

ct5amr2ig1nfhp

First payment of the 2-5% cashback promotion hit my mintos account earlier this morning. Happy Days.

ct5amr2ig1nfhp

It states in their terms and conditions:

"9. The cashback is paid in one installment within 6 (six) working days from the investment date, if all terms and conditions set out in this document have been fulfilled."

So I presume you can go ahead with your plan. However, I would guess you will find it very difficult to sell your long term loans with no discount while this promotion is running. Why would anyone take a long term loan on the secondary market without a discount, when you can get up to 5% cashback on the primary market for similar loans?

ShoulderChip wrote: »

Are the long term investments locked down? I would assume so but can't see any indication, if not could I sell all my loans incur no fees take all long term loans for this offer, wait a month and sell.

Squozen

ShoulderChip wrote: »

Are the long term investments locked down? I would assume so but can't see any indication, if not could I sell all my loans incur no fees take all long term loans for this offer, wait a month and sell.

I expect they’d pay the 5% back in instalments over the course of the loan to stop this from being done.

ShoulderChip

Are the long term investments locked down? I would assume so but can't see any indication, if not could I sell all my loans incur no fees take all long term loans for this offer, wait a month and sell.