P2P Lending

sKeith · 31-05-2018 2:38pm

Does your account get credited with portions of a cent? or is numbers always rounded down?

brianomc · 31-05-2018 2:55pm

sKeith wrote: »

Does your account get credited with portions of a cent? or is numbers always rounded down?

Mine gets rounded on all platforms, up or down though. It’s most notable when you get a late fee on Mintos of 1cent and your balance doesn’t change. Or again when you get a late fee of 0cents and your balance goes up 1cent.

ct5amr2ig1nfhp · 31-05-2018 3:03pm

I know Mintos and RoboCash you get portions of a cent. I presume the others are the same?

RoboCash has an option "Without Roundings" on most of their pages. It looks like it is to 10 decimal places but in cases it is 12 places. Here is an example from the my investments page. yyyy-MM-dd | hh:mm:ss | Paying interests for loan XXXXX | + € 0.0082322217

garrettod · 01-06-2018 12:50pm

Clara Sparse Windbreak wrote: »

It looks like this thread is turning into my blog. ....

LOL

You seemed happy enough here talking to yourself, so the rest of us just figured that we'd leave you too it

In truth, I've no experience with the various P2P sites that you are using, having only used Irish based P2P websites. Currency exposure is a concern for me, if I consider going on UK websites for example, while all potential new P2P websites require time to research each one, then open accounts etc. Is it really worthwhile ? If you happen to have a little spare time at some stage, a very quick summary of your opinion / experience on the various sites would actually be very helpful.

That said, I do appreciate the info you are currently providing, so please keep it up !

Thanks

ct5amr2ig1nfhp · 01-06-2018 3:26pm

I am currently only investing in EUR, although I do hold some loans in PLN also. EUR/PLN has been steady the last 10 years at around 4.25 PLN.

GBP has and will continue to to be volatile. USD... well you just don't know what El Trumpo will do next.

brianomc · 02-06-2018 10:35pm

If I add up the total of my invested portfolio on Mintos for auto-invests it adds up to a good bit more than my total account balance. Is there something in the FAQ that explains this?

I would have expected the invested amount to reduce with each repayment of principal, maybe it is but I can't make any sense of it right now. I was trying to create individual auto-invest strategies for various companies and this has thrown me off.

ct5amr2ig1nfhp · 03-06-2018 8:42pm

Thought I would update the list:

- PeerBerry two decimals and 'half round up'.
- Twino four decimals.
- Swaper eight decimals and 'half round up'.

Edit: updated the list.

Has anyone tried to understand the new APR indicator on Mintos? It is not clear how they calculate it.

Clara Sparse Windbreak wrote: »

I know Mintos and RoboCash you get portions of a cent. I presume the others are the same?

RoboCash has an option "Without Roundings" on most of their pages. It looks like it is to 10 decimal places but in cases it is 12 places. Here is an example from the my investments page. yyyy-MM-dd | hh:mm:ss | Paying interests for loan XXXXX | + € 0.0082322217

ct5amr2ig1nfhp · 06-06-2018 6:48pm

Two great blogs that I would recommend. financiallyfree.eu and p2phero.com.

Both have been going a few years and there is some great information on both.

Two new p2p platforms mentioned are FastInvest.com and Envestio.com. Both have a 'buyback' guarantee of sorts but I haven't had a chance to look into them further.

ct5amr2ig1nfhp · 07-06-2018 9:31am

I am trying to piece together some details on FastInvest but information is limited. I see some discussion on the platform over at p2p-kredite.com (it's in German). I have fired FasstInvest an email with a few questions.

No fees at the moment. EUR, USD, PLN and GBP loans available. There appears to be plenty of loans available. Currency exchange is available on the site, using ECB rates. Manual and auto-Invest available. They have a 'buyback guarantee' and a 'default guarantee.' The default guarantee is what most of the other platforms call buyback. If the borrower is late by 3 or more days, the default guarantee "will settle the arrears".

And last, their ICO. Plenty of details can be found here.

ct5amr2ig1nfhp · 12-06-2018 10:19am

An observation on Swaper. They have in the region of 700k in new loans every week and approx. 1,400 active investors. If their auto-invest algorithm is 'fair', it means each investor has access to around 500 EUR of new loans each week.

So the cash drag makes sense now. I did reach out to Swaper for comment. They are aware of the lack of new loans and are working to get a new source of loans from Russia. No timeframe as to when this might happen.

Keep the above in mind if you plan on depositing a few k into the platform. You are unlikely to see all your funds invested at the moment.

I do like Swaper and hopefully the lull at the moment is giving the Swaper team time to work on the website/platform. We can only hope

retalivity · 13-06-2018 8:03am

What platfrom would you recommend to someone who will be incrementally building up cash reserves? Probably starting at 1k and adding a few hundred a month to invest?

Ive registered with mintos but yet to deposit anything

brianomc · 13-06-2018 7:51pm

retalivity wrote: »

What platfrom would you recommend to someone who will be incrementally building up cash reserves? Probably starting at 1k and adding a few hundred a month to invest?

Ive registered with mintos but yet to deposit anything

I would recommend Mintos anyway. They have a very comprehensive auto-invest feature. If you want to manually invest then there's no shortage of options there either.

Once you have the minimum investment of €10 in your account then your loans will get invested instantaneously. It's also fairly easy to get 13.5% return with buyback guarantee loans.

brianomc · 14-06-2018 10:22am

PeerBerry have added the sort functionality to the "My Investments" page

ct5amr2ig1nfhp · 14-06-2018 10:50am

+1 on Mintos. They currently have the best platform of the 10-15 platforms I have tried. A little daunting at first due to the functionality available.
A little tidbit, do not be surprised if repayments are late. For example I have approx 15% of my investments marked as late (1-60 days late, ignoring the grace period). I only invest in loans with buyback, so happy not to worry and let the buyback kick in after 60 days. You'll get the principal plus interest accrued up to the date the loan is bought back. Have a read of what happened with the Eurocent loan originator on Mintos. It'll give you an idea what can go wrong with p2p.

Not all platforms have buyback (all platforms I list below do). Each platform has their own version/meaning of buyback, so make sure you research each buyback guarantee scheme.

Others to look at - in no particular order: ViaInvest, RoboCash, Grupeer, Viventor, Twino, Lenndy, Swaper, PeerBerry, DoFinance

As with any investment, only invest what you can afford to lose!

Edit : There are a few Irish sites, LinkedFinance, Grid Finance, Flender. I have not used these platforms personally, so cannot comment on them.

brianomc wrote: »

PeerBerry have added the sort functionality to the "My Investments" page

Super! And to the "invest" page. Makes picking up those 44 day loans a lot easier. . The platform is very snappy this morning, I wonder did they do a hardware upgrade as well.

ct5amr2ig1nfhp · 17-06-2018 10:22pm

Nothing particularly interesting to report but I appear to be fully invested across all platforms this evening, which is a first. That includes Swaper which I had mentioned above.

ct5amr2ig1nfhp · 03-07-2018 10:42pm

If anyone is interested, the Mintos refer a friend bonus is back until early Aug. Reward is 1% back for both, more details can be found on the Mintos website.

sKeith · 03-07-2018 10:58pm

Clara Sparse Windbreak wrote: »

If anyone is interested, the Mintos refer a friend bonus is back until early Aug. Reward is 1% back for both, more details can be found on the Mintos website.

pity i've already started or i'd defo support u PM

enviro · 04-07-2018 6:47am

Clara Sparse Windbreak wrote: »

If anyone is interested, the Mintos refer a friend bonus is back until early Aug. Reward is 1% back for both, more details can be found on the Mintos website.

PM me, I'm interested. Thank you

ct5amr2ig1nfhp · 04-07-2018 9:48am

Thanks guys, I wasn't trying to get referrals from boards members. Wouldn't feel comfortable doing that.

Was only an info post, in case anyone was thinking of signing up. I have a few friends interested, so might give them a nudge.

ct5amr2ig1nfhp · 10-07-2018 11:18pm

Another quick update.

DoFinance - unfortunately they have run out of new loans. "Dear investor! Currently there are no loans available for new investments..." My current 12% 6 month auto invest portfolio is now no longer fully invested. Hopefully they can resolve it soon. I plan to pull my funds from DoFinance as soon as the 6 months is up. I was not happy they reduced the top rate from 12% to 9% without notice. I may even pull the trigger and withdraw before the due date.

Swaper/Rabo - continue to see cash drag on both.

Grupeer - ticking along nicely. Majority of loans currently available are 15%, some at 14%. It is unfortunate they do not have more stats available on the website. You can however, download a copy of your account activity to Excel. I did that this evening and I was surprised that I have no loans late and no defaults (yet). I will probably move my funds from DoF to Grupeer.

Mintos - I have noticed that all of the top rates appear to have dropped by 1-2% recently.

sKeith · 10-07-2018 11:44pm

invested at 14% myself on grupeer and robocash, and roughly 12% at mintos.
on flipside, well diversified on mintos, robocash diversified between two lenders, and on grupeer, it all hangs on 1 lender.
but when i dive into robocash, tbh, its 9/10 all on one lender too.

brianomc · 12-07-2018 2:35pm

Mogo loans are going to start to get bought back on Mintos due to the issuing of a €50m bond at just 9% interest.

New Mogo loans will offer an interest to us of up to 11%, down from the 13-13.5% I've been used to over the past 12 months. I can see lots of other loan issuers lowering their rates too. Most seem to have fallen a little already in the last month or 2.

ct5amr2ig1nfhp · 12-07-2018 2:52pm

Yep, I saw the trend starting a few months ago. If you availed of the cash back offer with Mogo loans, you're laughing.

ct5amr2ig1nfhp · 12-07-2018 4:12pm

Finding it tough to keep my NAR above 13% and stay within my own diversification 'rules' on Mintos.

I note a new lender from Russia added today Lime Zaim. Some financials for 2014-2017 available on Mintos. I'll have to take a look later.

sKeith · 12-07-2018 4:24pm

Clara Sparse Windbreak wrote: »

Finding it tough to keep my NAR above 13% and stay within my own diversification 'rules' on Mintos.

I note a new lender from Russia added today Lime Zaim. Some financials for 2014-2017 available on Mintos. I'll have to take a look later.

18% loans and all seem to be covered by buyback guarantee but so far only deals in RUBels.

Kuva · 15-07-2018 7:32pm

What's the tax situation with returns on P2P lending?

sKeith · 15-07-2018 7:37pm

as far as i can gather, when withdrawing excess funds, they are added to your yearly income, and taxed as such. please correct if incorrect.

Wheety · 15-07-2018 7:43pm

I thought you declared your interest as it was earned, i.e. before October this year you'd declare your interest for 2017.

sKeith · 15-07-2018 7:47pm

Wheety wrote: »

I thought you declared your interest as it was earned, i.e. before October this year you'd declare your interest for 2017.

but your gains are unrealized until they are remove fom the system, not disagreeing, just tyng to understand.

sKeith · 15-07-2018 7:49pm

for instance, if the website you have all your money in goes belly up, and gains are useless, so all those paid interests are pointless.

P2P Lending

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