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P2P Lending

ct5amr2ig1nfhp

A few of you have been in the p2p scene a few years now. Have you any thoughts on your p2p platforms of choice?

Mintos appears to be leading the way at the moment, in terms of volume of loans available and value of loans funded/available. Are Twino and Bondora still getting a look in?

I felt I was too heavily invested in Mintos so I have tried a few newer platforms recently. Lenndy, RoboCash, DoFinance, Grupeer and ViaInvest. Only small money to begin. The only platform where my funds have yet to be invested is Lenndy. I try to stick to platforms that have a buyback type guarantee.

Does anyone else have any recommendations or thoughts on how p2p will evolve this year?

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ct5amr2ig1nfhp

What are peoples thoughts on p2p for 2019? Will you be increasing your investment in p2p this year?

retalivity

Clara Sparse Windbreak wrote: »

What are peoples thoughts on p2p for 2019? Will you be increasing your investment in p2p this year?

Yes.
Started in june, and have been incrementally adding a bit every month, as well investing elsewhere e.g. stocks, bonds, currency and a general saving account. P2P has had the highest return of them all. Not foing to go crazy, and will keep the diversification, but wipl scale up this year, probably in place of stocks which is very volatile at the moment. I am only on mintos and have yet to withdraw, will aim to get to 5 figures by EOY.

ct5amr2ig1nfhp

Grupeer have a special offer day on the 15th Jan. Monify SA loans will be +1% for that day only. Nothing to special about 1%.

Up to very recently, rates have been 14% with Monify issued loans. However on checking this morning Grupeer only have two Monify loans active on the site and both for only 12%. Edit: no new Monify loans will be added. It's a bit much to call it a special day/rate when there will only be two loans. :rolleyes:

Shelflife

Clara Sparse Windbreak wrote: »

What are peoples thoughts on p2p for 2019? Will you be increasing your investment in p2p this year?

I've plunged in earlier this year, prob a bit too much but im happy enough.

I want to wait a bit longer to see the mechanics of how each company works regarding delayed payments , how they handle withdrawals and deposits , how defaults are managed etc.

Its a steep learning curve for me at the moment and I'm still looking for the downside of the whole industry.

Mcannnrb pointed out some of the obvious ones, (good post btw) its good to have the downside pointed out as well and Im interested in all the various nuances of this.

For me its a watching brief, Im getting out of Swaper , its just to slow for me, Im cutting back on fast Invest and putting those funds into Linked Finance.

I will be tidying up Mintos and getting away from some of the poorer rated providers.

Overall I will be hopefully reading a lot more about P2P and hopefully we will get a few more on here sharing the good and the bad news.

littlevillage

Clara Sparse Windbreak wrote: »

What are peoples thoughts on p2p for 2019? Will you be increasing your investment in p2p this year?

Hard to know, most comentators seem to aggree that we are are likely heading into a global recession or at least a period of stagnation in developed economies in 2019.... obviously there will be a knock-on effect in some of the countries where P2P lenders are operating (generally less well developed economies).

How deep a recession we get in 2019 and how long it lasts is the big question. Hopefully if the global economies sink into recession it will happen gradually and this will give us time to get our money out of P2P. The nightmare scenario would be a big shock event..... maybe a major P2P player/Loan Originator going bust and spreading panic in the market....and the whole thing collapsing.

Pesonally I am lowering my P2P investments gradually, (its the best performing part of my overall portfolio soo I am loath to cut and run entirely)... but I'm a little less confident about its long term prospects than I was say 2 years ago ...when I first got involved.

sonyvision

Been Investing with Mintos three years. Start with 50 euro ended up with 7/8k December 2017, as the rates dropped off I sold plenty of my 13.5 and above loans off with plus 1% premium. Withdrew 5k from Mintos in 1k blocks and over the last 13 months been withdrawing 50 each month. Average return is at 12%

The thoughts of panic in the market with "recession" is coming close, brexit... I wanted to start reducing my exposure just in case. still have sub 1k in Linked finance thought.

vargoo

Shelflife wrote: »

Im getting out of Swaper , its just to slow for me,

Not enough loans on it?

What are the financials of the parent Wandoo Finance Group like?

Supercell

Have to say I have some concerns with Peerberry. I noticed that as loans got filled that nothing was reinvested over the xmas holiday period. Right now I have a few hundred not invested which i bet will fill on Monday, so much for the "auto-invest". Thinking of pulling my funds from it.

ct5amr2ig1nfhp

I have funds in Peerberry. Funds have been auto-invested as normal. Checking the dates under my investments, date of purchase Dec ... 23,24,25, 26,28,29,30,31 plus Jan 01,02,04,05... A mixture of rates 11%, 11.5% and 12% loans.

In fact, I have been meaning to post an update on all of my p2p platforms lately. I have noted that I have not had any cash drag in Peerberry in recent weeks.

Supercell wrote: »

Have to say I have some concerns with Peerberry. I noticed that as loans got filled that nothing was reinvested over the xmas holiday period. Right now I have a few hundred not invested which i bet will fill on Monday, so much for the "auto-invest". Thinking of pulling my funds from it.

I still have cash drag with Swaper but it has dropped from 20-25% of my funds not invested to 10-15% for most of Dec into Jan. I currently have approx 10% not invested.

vargoo wrote: »

Not enough loans on it?

What are the financials of the parent Wandoo Finance Group like?

Supercell

Thanks ProjectMoose, my funds are invested this morning, maybe I was being a bit paranoid.

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.