dingdong1234567 wrote: » Regarding the auto invest function on Mintos. How long after one sets up their investment profile does it take to start 'auto investing'.?
Leon Melted Tap-dancer wrote: » The current trend is a decrease in business loan and mortgage interest rates, with everything else increasing. Personal Loans for 1-4 months @ 12.5-13.5% interest is great, especially with buy-back. I've been allocating about 60% of my portfolio to the short term loans , as I am very active in managing my account. If I instantly re-invest, my annual return should be around 13.5-15%.
TheSheriff wrote: » What kind of value do you leave for the LTV value for your autoinvest portfolio? Im not 100% sure on this aspect.
dingdong1234567 wrote: » Tried setting up auto invest profile and set an LTV value @70% and nothing was happening IE no investments where being made. So I queried this with Mintos, they state that I cannot set an LTV value as the primary market does not have any loans with this therefore I had to remove the 70% LTV altogether and it worked. What's the point of setting an LTV value if it cannot be used? Am I missing something completely abvious here?!?!. I checked the list of loans with the above and there where loads.......... Anyone else experience this?
JTMan wrote: » I am going with 80% LTV rather than 70% LTV. Generally, defaults in lending occur in the 80-100% LTV bracket.There are far more loans in the secondary market rather than the primary market. Does auto invest work with the secondary market?
Leon Melted Tap-dancer wrote: » I think this is because the largest investors use auto-invest (which favours larger accounts from what I've seen on other forums), and then immediately put their investments up on the secondary market, gives them a quick turn-around. Some people are getting annual growth rates of ~20% with this technique. Of course the other reason many loans are simply sitting on the secondary market for what seems like forever is the fact that many of those loans are late. I have noticed that any longer term loans which have a history of repayment tend to get snapped up very quickly.
Wheety wrote: » How are people making money that way? Is it to do with selling loans with a premium?
Chiarrai92 wrote: » Hey im completely new to p2p lending im just wondering how does mintos work out taxwise? I know with linked finance you pay income tax on it, but is it diferent when the company is based overseas? Also has anyone had any issues withdrawing money from mintos?
Leon Melted Tap-dancer wrote: » Every single late loan I have is from Latvia, be it Mortgage or Personal Loans. Anybody else noticing similar trends?
Wheety wrote: » I've put a few loans on the secondary market at a fairly hefty premium. Not expecting them to sell but we'll see. The loans are all current so I don't mind just taking the interest from them as normal.
Katawalah wrote: » I get the idea of selling a loan with a premium, but I don't see the point of buying a loan at a higher price than the original loan. If the loan is at i.e. 12% and sold with a 2% premium, you would actually get only 10% interests on the remaining loan term. But, there are loads of loans with at least 10% on the primary market which can do the job. Could someone explain the benefits of the Secondary market please?
Wheety wrote: » You can invest in loans with a buy back guarantee where the loan originator will buy the loan back if it is 60+ days overdue. It seems that in some cases you get a late payment fee but not in others.
tomwaits48 wrote: » so is it fair to say there is effectively zero risk? seems too good to be true! I've set up an account but still a little cautious. At least with Linked Finance I can call over to their office if ever I needed too...
Katawalah wrote: » Hi all, I'm new to this forum, but have been following some threads for a while now with some interest (especially the LF thread), and I'd like to share my experience as well. I started using Mintos 2 months ago to diversify my investments and because LF slowly disappoints me more and more. Mintos seems a great alternative, and I am really happy with it so far. The website is very clear and user-friendly, I also like to receive the daily summary every morning, and the rates are really attractive. So, I invested 1K 2 months ago. Auto Invest set up and works fine. At the beginning, the Auto Invest was investing in long term loans (68 months), then I modified it to invest in short to mid-term loans. My Auto Invest is set up for : 10€ in loans between 10% and 15% with a maximum period of 16 month and a buy-back guarantee. My loan portfolio has loans ranging from 10.5% to 13.5%. So far the Net Annual Return is 12.14%, and I've made 14.48€ in just over 2 months. So, not bad, but not outperforming either. After this long introduction, I am also curious about the late repayments topic and have some questions about it. On my dashboard, I see 17 late loans : 1-15 days late 11 16-30 days late 3 31-60 days late 3 However, when I check the My investments tab and the next repayments dates, I find only 9 late loans : 8 are Personal loans from Georgia (Cream Finance) and 1 is an invoice financing from Latvia. So, not sure what the other 8 late loans are. Does anyone have an idea why the number of late loans is not the same on both pages? Do you know how the interests are calculated on rebuy for late repayments? Most of the time, the buy-back guarantee rebuys the principal invested and gives some interest. But, I've seen a couple of times the principal being bought back without interest at all. Do you know why in some cases there is no interest given? I get the idea of selling a loan with a premium, but I don't see the point of buying a loan at a higher price than the original loan. If the loan is at i.e. 12% and sold with a 2% premium, you would actually get only 10% interests on the remaining loan term. But, there are loads of loans with at least 10% on the primary market which can do the job. Could someone explain the benefits of the Secondary market please?
Wheety wrote: » 4 of my loans are now 1-15 days late. They are all Latvian. Anyone else had this? Did they pay eventually?
Wheety wrote: » I'm not going to tell you there's no risk. What happens if the loan originator or Mintos themselves go bust? But it is a way of mitigating some of the risk. I think you can get higher rates if you go for a loan without the guarantee.
