P2P Lending

TheSheriff · 09-08-2018 5:43pm

Clara Sparse Windbreak wrote: »

Unfortunately I have about 50% sitting not invested with RoboCash. Of the invested amount, 45% is 'over due'. :pac:

What sort of returns did you make on Twino and Mintos if you don't mind me asking? The rates on Mintos were much better two years ago, as they were on Twino I believe? So I am interested to know what sort of returns you had over the two years.

Edit: Viventor added a new loan originator - Kreditu Centras - loans currently available range from 9 to 11%, all appear to be 36 months only.

Sure - I've historically managed to get 12% on Mintos, however its now dropping to ~10-11%.

Twino has always been much lower, ~7%. This is with an auto-investment portfolio active. I have my portfolio set to fairly short investment periods 4-6 months in case I ever need the cash quickly.

pnecilcaser · 12-08-2018 4:34pm

So after a few weeks on Swaper I still have only 1/3 of my capital invested. I set up LOADS of auto invest portfolios with a variety of settings but still no joy. There are no loans currently on the platform. I am considering getting in touch with them to ask for their view on why this is. Anyone else got any ideas? At this point I am planning to withdraw the non-invested capital and move it to either Mintos or Invientor - open to suggestions too.

ct5amr2ig1nfhp · 12-08-2018 6:00pm

Swaper have said they are working on adding a new loan originator but no time frame when we will see an increase in loans. Swaper continue to allow new investors, which is a shame. I have queried why they continue to allow new investors when they do not have enough loans. Still waiting on a response. I have already pulled funds and will pull more next week.

As long as you understand the risk with P2P... you could lose your entire investment etc.. give ViaInvest or Viventor a try. Plenty of loans available on both. Grupeer as well.

Grupeer is probably my best performing P2P platform.

FastInvest is a new one I have recently signed up to trial. Instant buyback is a nice feature (without accrued interest).

pnecilcaser · 12-08-2018 6:10pm

Clara Sparse Windbreak wrote: »

Swaper have said they are working on adding a new loan originator but no time frame when we will see an increase in loans. Swaper continue to allow new investors, which is a shame. I have queried why they continue to allow new investors when they do not have enough loans. Still waiting on a response. I have already pulled funds and will pull more next week.

As long as you understand the risk with P2P... you could lose your entire investment etc.. give ViaInvest or Viventor a try. Plenty of loans available on both. Grupeer as well.

Grupeer is probably my best performing P2P platform.

FastInvest is a new one I have recently signed up to trial. Instant buyback is a nice feature (without accrued interest).

That really is super advice, thank you for that. I have pulled the outstanding capital from Swaper now and might give Grupeer a try on your recommendation.

Also agree that its a shame Swaper are accepting new investors with no product to offer them.

I think I need to read more carefully around the terms and conditions of the "buyback" guarantees as they sound too good to be true. Want to find the devil in the details. No way it covers the risk.

sKeith · 12-08-2018 6:48pm

pnecilcaser wrote: »

That really is super advice, thank you for that. I have pulled the outstanding capital from Swaper now and might give Grupeer a try on your recommendation.

Also agree that its a shame Swaper are accepting new investors with no product to offer them.

I think I need to read more carefully around the terms and conditions of the "buyback" guarantees as they sound too good to be true. Want to find the devil in the details. No way it covers the risk.

The risk is that the loan originator goes boom.
It has happened before, see EUROCENT on mintos.

brianomc · 13-08-2018 7:40pm

PeerBerry have one loan, a 300k-er with a near 10-year term. I've never seen a loan longer than 45 days there or for more than 1k before. But I do hope they get fresh loans in as I now have cash-drag

ct5amr2ig1nfhp · 14-08-2018 7:48am

10 years? :pac: Think it's a little shorter than that

I am seeing cash drag still as well. But I've been able to invest the funds manually. I'll let it build up over a few days then invest it manually.

Unfortunately, I have now pulled funds from three platforms. Mintos, robocash and swaper. Robocash and swaper due to cash drag and Mintos due to the drop in rates.

brianomc · 14-08-2018 9:03am

Clara Sparse Windbreak wrote: »

10 years? :pac: Think it's a little shorter than that

I have no idea what I thinking working that out

:o

ct5amr2ig1nfhp · 14-08-2018 9:57am

A few new loans listed on PeerBerry right now. Seem to be going quickly though. Good time to get your funds invested manually.

ct5amr2ig1nfhp · 14-08-2018 11:43am

Interestingly, the number of primary loans on Mintos continues to increase significantly being just shy of 85k loans today. I see a 10+% drop in secondary loans in the last couple of days. Best rate available on the primary market is currently 10.1% EUR+buyback (exclude the handful of loans at 11.5% with a 60 months term). That is a pretty poor return.

Edit: change figured on loans available.

ct5amr2ig1nfhp · 15-08-2018 10:22am

Another 15% of my loans have been bought back on Mintos in the last day or so. I just hit withdraw straight away. Sigh.

Green&Red · 15-08-2018 6:51pm

Complete noob, can someone please explain how it works?
There may already be a post here that explains it but it all seemed to be people who knew what they were talking about

I get the general concept of P2P lending its more the nuances of how it actually works. How are the interest rates set? How long are the terms of the loans? How easy is it to withdraw ur cash when you're ready?
What happens if the borrower fails to repay?

Thanks

littlevillage · 17-08-2018 9:36pm

Swiss Invoice Finance Marketplace Advanon Hit by Fraud Case

https://www.p2p-banking.com/countries/switzerland-swiss-invoice-finance-marketplace-advanon-hit-by-fraud-case/

:-(

Kuva · 18-08-2018 10:04pm

That new Dinero Originator on Mintos has no interest or penalty on delayed payment, hold your money for 60 days and nothing for you, eh, fcuk off. Most of Mogo subs the same.

ct5amr2ig1nfhp · 19-08-2018 11:46pm

Grupeer standing out from the crowd. A little over 7 months invested and expected return for the year is slightly over 15%.

ViaInvest is another gem. 4,000 odd loans currently available. Mostly 30 day loans at 11% return but a nice volume of 12% installment loans also. The platform is missing some basic features, sort, filter functions etc. Invested a small sum about 8 months ago and projecting a little over 12% return.

Viventor is working well for me. A little cash drag recently but they appear to have a new source of loans. I see about 500 loans currently available. A mixed bag 9-12% rates and between 1 month to 3 year terms. XIRR currently just over 12%.

Swaper still seeing 20% of funds not invested, which is a shame. The platform is nice but they really need to get a new source of loans.

RoboCash, 40% not invested so have withdrawn the funds. What is currently left invested, 60% are late. Support say not to worry as they have their buyback policy.

PeerBerry I am seeing a little cash drag from time to time. But I have been able to pick up loans manually when needed as I had mentioned above.

FastInvest, new to this platform. So far no problems. I like that I can sell my loans at any point and have the funds available within 24hours in my 'balance'. A quick test, the funds were back in my balance instantly. About 600 loans (EUR loans) currently available, ranging from 9-15% return and 0-12 month terms. I like the website a lot, layout, functionality, reporting. A little too soon to report really, other than I haven't had any issues.

DoFinance nothing much has changed. I am not happy with how they implemented their rate drop and am waiting for my term to finish so I can pull all funds from the platform. Noticed that the website is offline a few times recently. Cloudflare errors. Might be nothing.

Lenndy, again nothing new to report. They really could do with a website update of some kind. No cash drag. Plenty of loans available.

littlevillage wrote: »

Swiss Invoice Finance Marketplace Advanon Hit by Fraud Case
https://www.p2p-banking.com/countries/switzerland-swiss-invoice-finance-marketplace-advanon-hit-by-fraud-case/
:-(

Always worrying to see a p2p platform in trouble. Doing some research into p2p platforms in china and it's scary reading.

Green&Red wrote: »

Complete noob, can someone please explain how it works?
There may already be a post here that explains it but it all seemed to be people who knew what they were talking about

I get the general concept of P2P lending its more the nuances of how it actually works. How are the interest rates set? How long are the terms of the loans? How easy is it to withdraw ur cash when you're ready?
What happens if the borrower fails to repay?

Thanks

Take a few of the platforms mentioned in this thread and read their FAQ pages. Most, if not all of your questions will be covered. Each platform covers the basic questions you have. The same topics/questions are covered. Remember that p2p lending is a high risk investment. I wouldn't go investment life savings etc.

bohsman · 22-08-2018 2:34pm

Clara Sparse Windbreak wrote: »

Looking at new p2p platforms, does anyone have any insights or experience with finbee?

On time94
Late5
Arrears0
Default2
Average interest rate 19%
I dont have very much invested overall but there's usually a steady stream of loans available, might struggle with larger amounts. Autolend settings work well and there is a secondary market.

littlevillage · 22-08-2018 2:37pm

My take on P2P lending.

There's an old Poker playing idiom. "If you can't spot the sucker at the table, it's probably YOU"

P2P creates the illusion the final end borrower is the sucker (ie. Paying huge interest for loans) ...the investor (me and you) assume we are on a winner because we are making 10% interest and our investment is 'guaranteed'.

The reality is a little bit different.

Yes, the end borrower is sort of the sucker, because they do pay high interest on their loans, a few 100% in some cases ....but a good number of those borrowers don't pay the loans back at all and still manage to get new loans again and again as the credit checks by Loan Originators seem to be deliberately loose.

The investor of course is the REAL sucker. We are carrying all the risk for a measly 10%.

The Originator is the winner, making multiples of that. They get cheap money from investors and get to invest that money at ridiculously high interest rates and ultimately don't have to worry if things go bad. (Just file for bankruptcy and off they go. reputational damage hardly bothers any Originator in our now 'virtual' world).

My advice, don't invest what you can't afford to lose, don't get too greedy taking unecessary risks and be ready to pull out at a moment's notice.

Benildus · 22-08-2018 3:07pm

littlevillage wrote: »

My take on P2P lending.

There's an old Poker playing idiom. "If you can't spot the sucker at the table, it's probably YOU"

P2P creates the illusion the final end borrower is the sucker (ie. Paying huge interest for loans) ...the investor (me and you) assume we are on a winner because we are making 10% interest and our investment is 'guaranteed'.

The reality is a little bit different.

Yes, the end borrower is sort of the sucker, because they do pay high interest on their loans, a few 100% in some cases ....but a good number of those borrowers don't pay the loans back at all and still manage to get new loans again and again as the credit checks by Loan Originators seem to be deliberately loose.

The investor of course is the REAL sucker. We are carrying all the risk for a measly 10%.

The Originator is the winner, making multiples of that. They get cheap money from investors and get to invest that money at ridiculously high interest rates and ultimately don't have to worry if things go bad. (Just file for bankruptcy and off they go. reputational damage hardly bothers any Originator in our now 'virtual' world).

My advice, don't invest what you can't afford to lose, don't get too greedy taking unecessary risks and be ready to pull out at a moment's notice.

What about the buyback option?

bohsman · 22-08-2018 3:16pm

Not many scenarios where a small investor isn't going to be the sucker. Even the winning poker player was a sucker compared to the house.

Kuva · 22-08-2018 9:28pm

Benildus wrote: »

What about the buyback option?

No Originator = No buyback

littlevillage · 23-08-2018 12:36am

Benildus wrote: »

What about the buyback option?

ha ha .... Buyback option is another smokescreen, it only works if the Loan Originator is still in business and interested in honouring it.

Last year, the loan originator 'Eurocent' had a buyback option on its loans on the Mintos marketplace. When the losses fron delinquent loans started to mount they just stopped honouring buyback gaurantees...and actually stopped repaying anything to Mintos investors full stop. Soo even if your particular loan with Eurocent with not in default.. they still wouldn't pass on the payments from the borrower to you (the investor)

They were eventually blocked from issuing any new loans on the Mintos marketplace. Mintos claim to be following up through the courts ...but have admitted that investors are unlikely to be repaid in full.

ct5amr2ig1nfhp · 03-09-2018 10:40am

Mintos Primary market reaching 100k loans available. Secondary market currently has ~130k loans available. I note that the amount of loans funded (by month) for Aug 2018 was down 7% on Jul. A interesting contrast to the month on month growth since Q4 2015. Investors are obviously hesitant to invest when returns are considerably lower than a couple of months ago. I would have expected the drop in loans funded to be significantly more than 7%.

scheister · 05-09-2018 4:46pm

Just looking on Robo cash. From 106 loans so far 25 have been bought back has they hit the 60 days. Seems a little high but from reading here late loans are very common on robocash

ct5amr2ig1nfhp · 06-09-2018 9:51am

The number of late loans touched 70% for me recently. Fallen back to 50% now. This and the fact that there is an on going problem with cash drag is why I have already started to reduce my funds in rabocash.

scheister wrote: »

Just looking on Robo cash. From 106 loans so far 25 have been bought back has they hit the 60 days. Seems a little high but from reading here late loans are very common on robocash

ct5amr2ig1nfhp · 11-09-2018 11:59pm

The number of loans available on Mintos is reaching 250k, that is the total number of primary and secondary loans. I would have expected to see some movement in rates by now. A quick look at the Sep stats and it would appear Sep will be the second month in a row where we will see a decrease in value of loans funded.

pnecilcaser · 12-09-2018 10:28pm

Clara Sparse Windbreak wrote: »

The number of loans available on Mintos is reaching 250k, that is the total number of primary and secondary loans. I would have expected to see some movement in rates by now. A quick look at the Sep stats and it would appear Sep will be the second month in a row where we will see a decrease in value of loans funded.

But still swaper are lagging behind in even having loans available. It's a shame because its the only platform I have come across that has an app.

I've read a few articles now about people moving their money around, would you say that is fairly normal for this type of investing? Do people generally follow the rates? Or is this a more recent behaviour? (i'm new to p2p so have very little historical insights)

ct5amr2ig1nfhp · 20-09-2018 7:25pm

Yep, I am still seeing about 10% of my funds not invested in Swaper.

I have a well diversified p2p portfolio. I am averaging about 12% between all platforms.

Mintos update - In case anyone is interested, I note tonight that a small number of loan originators have increased their rates to 12 and 12.5%. Good availability of loans in both the primary and secondary markets. Varks, Sebo, Dinero etc.

Kuva · 20-09-2018 7:38pm

Clara Sparse Windbreak wrote: »

Varks, Sebo, Dinero etc.

The ones either this guy or mintos themselves reckon you shouldn't give money to though...

http://explorep2p.com/mintos-lender-ratings/

ct5amr2ig1nfhp · 20-09-2018 8:19pm

Indeed. However my post was more to indicate that we might see other more reliable/higher rated originators increase their rates soon.

Varks and Sebo had 15% loans not so long ago.

I only have a very small holding in Varks and Sebo, as I like very short term pay day loans 2d-30days. They have been fairly reliable up to now, so I will continue with a small holding in the two.

Edit:
Just to have it all in the same post. Mintos lending rates... Dinero (C+), Sebo (B-), Varks (B)
If you take a look at the stats on Mintos, their current loans stand at ~90%, so 10% are late. This compares favorably with that of the higher rated loan originators. For example, Credissimo is the highest rated originator in the explorep2p ratings, yet their current personal loans stands at < 40%, over 60% of their loans are late.

Kuva wrote: »

The ones either this guy or mintos themselves reckon you shouldn't give money to though...

http://explorep2p.com/mintos-lender-ratings/

Kuva · 20-09-2018 9:08pm

Clara Sparse Windbreak wrote: »

Indeed. However my post was more to indicate that we might see other more reliable/higher rated originators increase their rates soon.

Varks and Sebo had 15% loans not so long ago.

I only have a very small holding in Varks and Sebo, as I like very short term pay day loans 2d-30days. They have been fairly reliable up to now, so I will continue with a small holding in the two.

Edit:
Just to have it all in the same post. Mintos lending rates... Dinero (C+), Sebo (B-), Varks (B)
If you take a look at the stats on Mintos, their current loans stand at ~90%, so 10% are late. This compares favorably with that of the higher rated loan originators. For example, Credissimo is the highest rated originator in the explorep2p ratings, yet their current personal loans stands at < 40%, over 60% of their loans are late.

Do you actually receive anything for 2day?

When I looked at them in the past when they were "finished" loans, I just got principal back.

P2P Lending

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