nush
Member of DD Central
Posts: 396
Likes: 113
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Post by nush on Mar 5, 2017 21:31:45 GMT
im uk based and a non tax payer, what are the pros and cons of investing through this platform. TIA nush
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Post by petebutt43 on Mar 6, 2017 17:06:40 GMT
Pros:-
1. Many of their loans have buy-back clauses - the originator of the loans buy back any loans that reach 60 days delinquent 2. High returns (with no buyback) 3. Good returns with buy-back typically 11-12% 4. Easy to use secondary market which can hoover up even small amounts down to 10 cents with comprehensive customised filters 5. A variety of currencies. 6. Easy to send money. Either Transferwise or international transfer
Cons:- 1. currency exchange ca 3% fee 2. Best loans are currently not in Pounds
All in all I like it a lot, Just wish I had realised the F***wits were going to rape the pound after Brexit vote.
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fric
Member of DD Central
Posts: 199
Likes: 79
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Post by fric on Mar 6, 2017 21:02:35 GMT
Pros:- 1. Many of their loans have buy-back clauses - the originator of the loans buy back any loans that reach 60 days delinquent 2. High returns (with no buyback) 3. Good returns with buy-back typically 11-12% 4. Easy to use secondary market which can hoover up even small amounts down to 10 cents with comprehensive customised filters 5. A variety of currencies. 6. Easy to send money. Either Transferwise or international transfer Cons:- 1. currency exchange ca 3% fee 2. Best loans are currently not in Pounds All in all I like it a lot, Just wish I had realised the F***wits were going to rape the pound after Brexit vote. Just to add to to the security - there are also quite a few loans with no buyback but with collateral - e.g. a mortgage or a car loan. Ofc you have to pay attention to LTV and valuations, but still a lot better than unsecured personal loans. I had 1 mortgage default recently - was paid in full after the auction of the property.
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Post by petebutt43 on Jun 25, 2017 7:32:36 GMT
The overview for my account.
Notice no late loans over 60 days
Current € 1 832.54
1-15 Days Late € 151.26
16-30 Days Late € 17.51
31-60 Days Late € 10.76
60+ Days Late € 0.00
Default € 0.00
Bad Debt (€ 0.00)
Total € 2 012.06
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Post by nellerdk on Jun 25, 2017 22:02:15 GMT
Hi OP. I am investing on several P2P sites and Mintos is by far the best.
Other people tend to share my positive view.
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