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Post by wiseclerk on Sept 16, 2015 8:34:42 GMT
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Post by wiseclerk on Sept 16, 2015 13:43:24 GMT
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Post by captainconfident on Nov 22, 2015 10:28:50 GMT
I have also stumbled onto Crosslend. Wiseclerk, would you be ready to give us an update of your experience there?
This seems to be a Western European Twino with lower rates, higher fees and no buyback pledge. Would that be a fair summary?
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Post by wiseclerk on Nov 23, 2015 8:09:30 GMT
I would not compare them to Twino. Twino is coming from the short-term, high interest (payday loan like) product side.
If you are looking for a comparision the closest would probably be Lendico.
So far (my few) loans I invested on on Crosslend run according to plan. I am interested in trying their German loans which so far have rather limited inventory on offer. If you are interested in investing in Spanish loans there is usually more then a dozen open for investing.
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mack
Posts: 85 
Likes: 90
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Post by mack on Nov 29, 2015 10:19:28 GMT
Why do they lend to?
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Post by captainconfident on Nov 29, 2015 17:42:31 GMT
Thanks for the update, wiseclerk. How did the video verification process work for you? First time I've heard of this. It's a stumbling block for me to sign up as I don't have a webcam/microphone available. Shame it is not possible to see current investment offers prior to committing to sign up.
A lot more personal detail required in the sign up that any other platform, and then following that they want a live video interview. No alternatives seem to be on offer. It's intrusive and annoying, and gave me an idea of why it is called 'Crosslend'. Unlikely to progress this further.
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Post by wiseclerk on Nov 30, 2015 7:07:35 GMT
Thanks for the update, wiseclerk. How did the video verification process work for you? First time I've heard of this. It's a stumbling block for me to sign up as I don't have a webcam/microphone available. While video verification is up and coming in Germany - many online bank use this process now since it is cheaper than the conventional 'Postident' process and accepted as a legal means of verification since 1 or 2 years now - for German investors Crosslend still offers the traditional 'PostIdent' verification option, which I used. So I have not tried the video verification process. You are right, for that a webcam would be required.
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mikes1531
Member of DD Central
Posts: 6,452
Likes: 2,320
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Post by mikes1531 on Dec 1, 2015 2:59:33 GMT
Thanks for the update, wiseclerk. How did the video verification process work for you? First time I've heard of this. It's a stumbling block for me to sign up as I don't have a webcam/microphone available. While video verification is up and coming in Germany - many online bank use this process now since it is cheaper than the conventional 'Postident' process and accepted as a legal means of verification since 1 or 2 years now - for German investors Crosslend still offers the traditional 'PostIdent' verification option, which I used. So I have not tried the video verification process. You are right, for that a webcam would be required. Would a smartphone and Skype do the job? It should be easy enough to borrow the kit if someone doesn't already have it.
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Post by captainconfident on Dec 2, 2015 23:45:10 GMT
I'm not keen. The site already has already extracted more information than HMRC has on me just to get to the video stage. Without sign up you can't see what's actually on offer on the site and at what rates, so my enthusiasm has wilted.
Compare this with the Baltic's, to whom an email address and an uploaded copy of a passport and we're off and running. I didn't get as far as what appears to be the further need to sign up for a quasi bank account with a third party German bank.
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Post by petebutt43 on Jan 30, 2017 0:17:31 GMT
Unsecured = high rate of default IMHO, usually NOT compensated for by the high rates!
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