|
Post by martins on Sept 18, 2015 14:24:53 GMT
Yes, it is 1.0 EUR = 2.6 GEL. The exchange rate has spiked in the recent weeks www.xe.com/currencycharts/?from=EUR&to=GEL&view=5Y. If we see that it is there to stay, we will reconsider the rate. However, the EUR/GEL currency risk relies with the Loan Originator, not investors.
|
|
Rob
Posts: 138
Likes: 36
|
Post by Rob on Sept 18, 2015 19:03:31 GMT
The liabilities field has been indeed incorrectly transmitted due to the bug on our side and we have taken that field down. Showing Liabilities without showing Income was not a useful piece of information anyway! I think of these loans as a guaranteed annual return of 14% with guaranteed repayment occurring after somewhere between 1 and 3 months. The borrower information is fairly irrelevant.
|
|
|
Post by xyon100 on Sept 19, 2015 14:32:30 GMT
I'm a little bit confused here, not that that's difficult. I like the sound of 14 percent and if Cream are going to be paying me that even if the borrower does not, I like that even more.
What I can't figure is how am I supposed to invest does not work for these loans and if auto invest keeps sending my money elsewhere?
How do I reserve money to try these "unsecured" loans? Sorry if it's a thick question, new to this.
|
|
Rob
Posts: 138
Likes: 36
|
Post by Rob on Sept 19, 2015 15:49:42 GMT
I'm a little bit confused here, not that that's difficult. I like the sound of 14 percent and if Cream are going to be paying me that even if the borrower does not, I like that even more.
What I can't figure is how am I supposed to invest does not work for these loans and if auto invest keeps sending my money elsewhere?
How do I reserve money to try these "unsecured" loans? Sorry if it's a thick question, new to this. You cannot invest in these using Auto Invest. Go to the Primary Market and filter Loan Type = Unsecured Loans. Manually invest using the Invest button.
|
|
JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
|
Post by JamesFrance on Sept 19, 2015 18:38:23 GMT
xyon100 if you mean that your autoinvest keeps using your spare cash without leaving you anything to invest manually, there is a setting in autoinvest which tells it to leave an amount in your account, so it will stop when your balance drops below that.
|
|
|
Post by xyon100 on Sept 20, 2015 5:52:26 GMT
That's what I was after. I'll go take a look for it now. Thanks guys.
|
|
huxs
Member of DD Central
Posts: 300
Likes: 218
|
Post by huxs on Sept 21, 2015 11:31:24 GMT
All unsecured loans now gone from the primary market, I assume there will be some more along shortly ?
|
|
Rob
Posts: 138
Likes: 36
|
Post by Rob on Sept 21, 2015 11:47:28 GMT
All unsecured loans now gone from the primary market, I assume there will be some more along shortly ? There are loads there now!! Filter with Loan Type = Unsecured Loans.
|
|
JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
|
Post by JamesFrance on Sept 30, 2015 8:32:56 GMT
martins It is very time consuming investing in these loans and of course it will all have to be repeated every month if they repay on time. It seems very desirable for an auto invest function to be set up as soon as possible and I wonder if there could be a way of opting for the repayments to immediately rollover into new 1 month loans as soon as they are available?
|
|
huxs
Member of DD Central
Posts: 300
Likes: 218
|
Post by huxs on Sept 30, 2015 8:45:24 GMT
JamesFrance try the invest all button, I used that the other day and it took no more than 10sec to invest in all the available loans that I wanted. Saying that not sure if it gets more complicated when you say you want to invest 100 in all loans and some loans are smaller than that, I assume it sorts that out but not tried that yet. So far the invest all button has worked well for me and is a lot less time consuming than almost any other P2P site out there.
|
|
JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
|
Post by JamesFrance on Sept 30, 2015 10:33:51 GMT
That is ok if there are only a few available or you want to use all the money in your account. I want to keep some back in case there is a new property loan as they fill quickly if they are not too large and are for longer periods.
|
|
|
Post by martins on Sept 30, 2015 12:19:51 GMT
JamesFrance We are working on a complete overhaul of the Auto Invest and will roll out it as soon as possible. That is one of the top priorities, so it shouldn't take too long before we launch it. To rollover any repayments to new loans we suggest selecting Reinvest option, that will allow reinvesting any borrower payments up to the set portfolio limit of the respective Auto Invest. martins It is very time consuming investing in these loans and of course it will all have to be repeated every month if they repay on time. It seems very desirable for an auto invest function to be set up as soon as possible and I wonder if there could be a way of opting for the repayments to immediately rollover into new 1 month loans as soon as they are available?
|
|
Rob
Posts: 138
Likes: 36
|
Post by Rob on Oct 1, 2015 16:32:27 GMT
Why are the latest Creamfinance loans now being offered at only 13% interest rate instead of 14%? I see on the crediton.ge website that the borrower's rate is still about 20% for 1 month i.e., 240% per annum. After taking out Creamfinance's and Mintos' share, surely there is still enough in the pot to pay 14% to Mintos investors?
|
|
|
Post by martins on Oct 2, 2015 6:41:49 GMT
RobThe loans are priced by the loan originator and the interest offered to investors among other is a function of supply and demand. The two rates you mention are not necessarily directly comparable as the loans are small and for short period. With a one month product to have EUR 100 outstanding balance for 12 months a loan originator has to lend EUR 100 for 12 times. That involves many different costs, e.g., borrower acquisition costs, customer support, loan servicing, debt collection, charge-offs etc. If say EUR 100 is lent at 20% a month that translates to EUR 20 income for the loan originator that have to cover all the mentioned costs. And that has to repeated for 12 times over the year to have EUR 100 outstanding loan balance.
|
|
p2pmaster
investment is life.
Posts: 128
Likes: 54
|
Post by p2pmaster on Oct 2, 2015 8:23:19 GMT
As long as investors are pouring their money into unsecured short-term loans, the loan originator will lower interest rate to the minimum to maximize their return and secure sufficient capital. I guess after few months interest rates for such loans will reach single digit and the platform will reach equilibrium.
|
|