webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Jul 31, 2015 10:52:35 GMT
I am looking to diversify across platforms. I currently use mainly SS,MT, PM, W, Abl, Z, RS, and AO. I have registered with FS, UB, PP and FF but for one reason or another do not have significant funds invested.
I would be grateful for opinions and comparisons on Mintos compared to the above.
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Post by captainconfident on Aug 3, 2015 19:09:56 GMT
What you could be sure of is that if investors here had problems, doubts or difficulties with this company, you'd see them expressed here loud and clear. Essentially the autobid facility on offer is fit for purpose, unlike some other sites, and means that the investments take care of themselves. Backing this with a buy back of defaulting loans, Mintos overcomes any 'wild east' tags which might apply to other sites. On the user end, the site is very simple to operate and needs only a ratesetter of attention.
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Post by bracknellboy on Aug 3, 2015 19:28:03 GMT
A trifle unfortunate that when I just started typing Mintos into google it came up very quickly with 'Minto's Pyramid' as an auto complete option. For the avoidance of doubt: unrelated.
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Post by captainconfident on Aug 3, 2015 19:36:40 GMT
I can't get the word "Nuttall's" out of my head.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,848
Likes: 11,077
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Post by ilmoro on Aug 3, 2015 20:49:25 GMT
A trifle unfortunate that when I just started typing Mintos into google it came up very quickly with 'Minto's Pyramid' as an auto complete option. For the avoidance of doubt: unrelated. Got excited there a I used to love those as kid & thought you couldnt get them anymore. Then I googled it too, not the same. Terry's Pyramint was what I liked Nostalgia
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Post by xyon100 on Aug 8, 2015 12:36:31 GMT
I'm just looking in to this now. Mostly I like what I see, but when I see a LTV of 70 percent against a 2001 4.1 litre Audi Avante, I wonder how good that security will be in the event of any major engine problem given a new engine is worth more than the complete car? And then another one, LTV of 81 percent on an 800 Euro car. Damn, all it needs is a full service and new tires and it's scrap!
Am I missing something here?
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Post by wiseclerk on Aug 8, 2015 13:54:52 GMT
The car loans are also secured by the buyback guarantee. So don't worry about engines or tires but rather whether the provider upholds and fulfills the guarantee.
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Post by xyon100 on Aug 8, 2015 17:52:33 GMT
Ok, thanks. Just dug out more details from the other thread here. Sounds good. My biggest problem is too much cash Euro and places to put it. Not a fan of Bondora.
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Post by brock on Aug 11, 2015 10:24:22 GMT
I've been using Mintos for almost 6 months now, and have to say I am very impressed. I've been quite active in lending via several UK p2p platforms, but was looking for a home for my Euro. Where I have had questions regarding setting up an account and tax status etc, they've been very quick and efficient to answer and handle any issues. Certainly from the management and staff point of view, I would say these guys are the most professional and efficient I have dealt with. With regards lending itself, there is a steady flow of attractive opportunities. At first I baulked at the thought of a car loan, especially on values that appeared hard to justify, but so far so good. I've had a few loans bought back promptly on the autos side. On the real-estate backed lending, I am yet to experience a full default. I'm currently hanging on to a scrap of a loan that is now 30-60 days late, semi-hoping to see it go through a full default and recovery process to see how well Mintos handle it.
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Post by xyon100 on Aug 11, 2015 10:50:15 GMT
I know what you mean about the default. I just has Savingstream handle a loan of mine that was in default and I have to say their handling of it was very reassuring, so much so that in many cases I would not have an issue buying parts of a defaulted loan. I have now sent a few Euro to Mintos to give them a whirl....
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Post by Deleted on Aug 19, 2015 21:42:25 GMT
Same here, I currently use Twino, but will try Mintos too
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Post by webbski9 on Aug 20, 2015 8:46:20 GMT
Lancelot,tell me what you know about Twino. It is just a payday loan outfit it seems which only appears to have been operational for a few months. I like the idea that your loan is repaid by them if it goes belly up after 60 days...similar to car loans at Mintos. Cheers webbski9
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Post by webbski9 on Aug 20, 2015 8:50:12 GMT
Wise clerk,what do your figures say about Twino ?
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Post by Deleted on Aug 20, 2015 10:04:01 GMT
I use Twino primarily and will start using Mintos now too. Twino seems to be better at communication than martins from my experience. I've never struggled to get answers from Twino and they seemed flexible with policy to accommodate investors. I've tried calling Mintos twice about deposit issue I am having and still haven't heard about it from them as the guy looking after it is not in office. Surprised it's a one man show for deposits. The amount isn't big as am just testing waters with Mintos and have limited it to €1500 but if it was more I would be very worried at the moment. Twino had some very good interest rate with high risk but with restructuring they've done offering buy back on all loans it seems more interesting now. My main concern is GBP-EUR exchange rate fluctuation and lack of FCA like regulation in Eastern Markets that both of them seem to operate in. Though from Article posted by Mintos they do seem to be planning to move to UK to come under FCA regulation, which might make them more lucrative to me. JamesFrance is also investing in Twino it seems, he may have some comments. Admin could be nice to create a Twino sub-board?
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Post by wiseclerk on Aug 20, 2015 13:52:34 GMT
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