P2P Lending

bcklschaps · 10-09-2019 1:57pm

Have been keeping an eye on the Primary loans available Market for the past couple of weeks ever since Moose pointed out that it had fallen drastically...from 300k to 80k.

Seems to be between the 80-90k mark consistently, now. If this is the new "normal", then fair enough ...Its difficult to know at what number there would begin to be cash drag problems. (remember 1 primary loan can satisfy maybe 100 individual investors, who are only taking €10-€20 bits of it)

Not unduly worried yet, most P2P portals have some cash drag....will only start to withdraw money when primary loans are down to a few 100 and demand is far outstripping supply....and Mintos is grinding to a halt.

ct5amr2ig1nfhp · 10-09-2019 2:28pm

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.

mike_cork · 10-09-2019 2:56pm

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.

Tbh im withdrawing a few quid from mintos for other reasons too- The primary one being i'm a little too overexposed on Mintos so i'm better off diversifying across other platforms.

CardinalJ · 11-09-2019 9:13am

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 â‚¬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.

mike_cork · 11-09-2019 9:50am

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.

I keep well away from the UK lenders as the uncertainty of a hard brexit has scared me off.
Yeah the minto autoinvest just doesn't work accurately so minto is v time intensive to manage

FFVII · 11-09-2019 10:49am

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 â‚¬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.

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 · 11-09-2019 10:53am

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?

I know Dinero for one dont give interest on late loans.

littlevillage · 11-09-2019 11:55am

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.

The p2p landscape is maturing .... Mintos got in early and expanded aggressively ....eating everybody else's lunch in the process.

They are the big dogs now ....and as you would expect are exercising that power... with some of their rate drops and other shenanigans.

Personally Mintos is the only show in town, its Loan volumes are 17 x times bigger than the next EU p2p player. (based on August Volume)

https://www.p2p-banking.com/tag/loan-volume/

Which gives me peace of mind, that if/when the p2p bubble bursts Mintos will be the last man standing.

FFVII · 11-09-2019 12:08pm

mike_cork wrote: »

I know Dinero for one dont give interest on late loans.

Ooh, i thought he meant he was meant to receive interest but didn't.

Carry on.

sKeith · 11-09-2019 12:37pm

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.

Shelflife · 11-09-2019 1:37pm

Im not sure what the panic is here, while the loan book may not be as populated as it was , theres still 73,000 loans there at this moment in time.

I personally have no cash drag and my loan standards are higher than most here (less risk) .

Do you have to tidy it up now and again ? Of course if you want it to run as efficiently as possible.

I went through my portfolio after reading Skeiths post and 5mins later I had 3.5% of my portfolio that was non performing for sale, halfway through this post and thats down to 3.0% and the sales are reinvested.

Thats something that Ill check on a regular basis now, I dont invest with most of them anyway so its not a big chore, My Investments, select the ones that dont pay interest , status click all outside current and then sell all. simple as that folks.

I know project Moose mentioned this before bit its great to get a reminder now and again.

Some great tips and advice on here folks, lets keep it up.

This time next year we'll be .........................

FFVII · 11-09-2019 2:04pm

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.

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.

sKeith · 11-09-2019 2:17pm

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.

The highlight entries are why I listed them.

mike_cork · 12-09-2019 8:47am

Mintos primary market down to 49644 as of this morning

CardinalJ · 12-09-2019 9:56am

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, if they tidy it up a bit, or I had more money to put in to make the return worth while.

mike_cork · 12-09-2019 10:04am

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.

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.

ct5amr2ig1nfhp · 12-09-2019 12:03pm

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.

mike_cork · 12-09-2019 12:55pm

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.

Looks to me like they have taken on far too many new people and their IT infrastructure just can't handle it.

ct5amr2ig1nfhp · 12-09-2019 2:58pm

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 · 12-09-2019 3:03pm

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

:pac:

bunderoon · 13-09-2019 12:36pm

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.

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.

mike_cork · 13-09-2019 2:20pm

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.

I've money in Peerbery,Iuvo group,swaper,viainvest,crowdestate,crowdestor,bondster,mintos,dofinance,grupeer,robocash and viventor (im withdrawing everything out of viventor as I am unhappy with the platform).

ct5amr2ig1nfhp · 13-09-2019 2:29pm

Can you give a quick update on Iuvo group mike? What are the returns like, defaults, buyback etc.

mike_cork · 13-09-2019 2:51pm

Clara Sparse Windbreak wrote: »

Can you give a quick update on Iuvo group mike? What are the returns like, defaults, buyback etc.

Sure.
I have had a good experience to date tbh. I've dealt with the customer support on a few occasions and they've been great to deal with.
I haven’t had any defaults to date with any late loans covered by buyback.
My XIRR rate to date is 10.25 %.

I would say the main issue with the platform is the lack of loan originations, some of the loans are v high risk (even by P2P standards) and the return is lower than elsewhere.
I will be sticking with the platform in order to remain diversified, but it remains one of the smaller parts of my portfolio
My favorite platform overall is probably Peer berry.

Wegian · 15-09-2019 2:27pm

Mintos Auto Invest still not working correctly for anyone or is it just me?

FFVII · 15-09-2019 2:48pm

Wegian wrote: »

Mintos Auto Invest still not working correctly for anyone or is it just me?

Has never worked right

Not at all at the min

Wegian · 15-09-2019 7:43pm

FFVII wrote: »

Has never worked right

Not at all at the min

It kept me fully invested for quite a long time but of late it seems to be a dud altogether...

ct5amr2ig1nfhp · 15-09-2019 8:24pm

Do you guys have the diversification feature enabled in your AI portfolios?

Shelflife · 15-09-2019 10:45pm

Not anymore, it’s too rigid . Just keep an eye on it myself and make manual changes now.

ct5amr2ig1nfhp · 16-09-2019 10:09am

50% of my Robocash funds are not invested the last few days. Someone else (vargoo?) flagged the lack of loans in the 'AVAILABLE LOANS' page, so perhaps they're struggling to get loans? I withdrew all funds not invested just in case.

P2P Lending

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