Clara Sparse Windbreak wrote: » The rates on other platforms are now on par or better than Mintos. While they might not be the size or have the same volume, they have been consistant. Buyback, delayed and/or penalty interest. I am getting frustrated with their attitude about the website, a case of "we are not aware of any problems". I'll keep my money where it is though for now.
CardinalJ wrote: » I stopped investing on Mintos and Im letting everything get paid back. The rate Ive been getting once I include the huge amount of delayed loans and lack of late penaltys etc is looking to be about 6% for the year compared to the 10.6 the site says I should get. 6% is still beating most alternatives, but Ive been investing mainly just to see what its all about. The small few €1000 I threw in isnt worth the hassle of constantly having to correct auto invest when it isnt making sense or waiting weeks for money to actually auto invest. I also suspect a lot of the UK lenders, who make up a large chunk of loans that are available, will struggle more and more with late payments in the event of a hard brexit. I'll keep looking at this thread as there is excellent information in it, but they are my reasons for pulling back for now.
CardinalJ wrote: » I stopped investing on Mintos and Im letting everything get paid back. The rate Ive been getting once I include the huge amount of delayed loans and lack of late penaltys etc is looking to be about 6% for the year compared to the 10.6 the site says I should get. 6% is still beating most alternatives, but Ive been investing mainly just to see what its all about. The small few €1000 I threw in isnt worth the hassle of constantly having to correct auto invest when it isnt making sense or waiting weeks for money to actually auto invest. I also suspect a lot of the UK lenders, who make up a large chunk of loans that are available, will struggle more and more with late payments in the event of a hard brexit. I'll keep looking at this thread as there is excellent information in it, but they are my reasons for pulling back for now.
FFVII wrote: » Lack of late penalties, you mean interest on delayed loans...this is a first. I honestly haven't checked it in a little while but it was there when I use to. Which originator?
mike_cork wrote: » I know Dinero for one dont give interest on late loans.
sKeith wrote: » 1pm, ACEMA, Aforti, AgroCredit, Capitalia, CashCredit, Creamfinance, Debifo, Dinero, EBV Finance, Fireof, GetBucks, Hippocredit, Lendrock, Mogo, and Watu Credit do not pay interest on non current loans, so get rid of them before they become non current. That does not seem to be a problem I have found on the secondary market. What it means though is, if you want to invest in any of the above, you need to manage and manually sell loans before they go late, sell those loans with only a couple of days left and immediatly rebuy more full term loans. If you can't afford the time to do this, then don't invest in any of the above and you will get paid interest even during the late period.
FFVII wrote: » Off the top of my head, cream does on most of theirs and some of the mogo ones do aswell. Rest of what you say is good advice.
CardinalJ wrote: » My decision isnt panic based as such. I still think Mintos is a good proposition overall. Im just not getting a return that i feel warrants the amount of time it takes to keep on top of the site acting up etc. Will I go back to it? Probably.
Clara Sparse Windbreak wrote: » While 80k (or even 50k) in available loans is still a large volume of loans, it was the sudden 'overnight' drop that has me suspicious. They have been making changes to the website and I wonder if they ever had 400-500k loans? Was it a website 'glitch' and with all the recent changes, finally fixed to show the true volume of loans available? Also, 50k loans available for a 200k investors... isn't a whole lot of loans. Edit: Their AutoInvest is still borked. There are loans available that match my portfolio's yet my balance continues to increase. I let it go for a few days and now I have 5% of my funds not invested.
Clara Sparse Windbreak wrote: » Aye, I believe I have mentioned it before but it's a good idea to filter the your loans by delayed status and the originators that do not pay delayed interest. Bookmark the page (the important part), then just check it every few days. Make sure you are already logged in if you do use the bookmark, otherwise it will just redirect you to the front page. (so login, then hit your bookmark). 6% return seems very poor on Mintos, especially in over the last 6-8% when interest rates were double that. Have you a very strict AI portfolio? I was speaking with a friend over a pint recently and he is getting into P2P lending. He is fully up to speed on the risks etc but is just not bothered keeping an eye on the different platforms. Got me thinking...'P2P portfolio manager', has a nice ring to it
mike_cork wrote: » I'd have very much the same thoughts. From reading blogs etc online, I'd expect loans to increase coming up to christmas. But for the moment I am/have pulled out funds in order to spread across other platforms.
bunderoon wrote: » Do you mind sharing what other platforms? I've only a tiny bit in Mintos to see what it's like and to get used to it. Looking to put more in and spread the risk across a few other platforms.
Clara Sparse Windbreak wrote: » Can you give a quick update on Iuvo group mike? What are the returns like, defaults, buyback etc.
Wegian wrote: » Mintos Auto Invest still not working correctly for anyone or is it just me?
FFVII wrote: » Has never worked right Not at all at the min
