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Post by Deleted on Dec 4, 2016 19:50:17 GMT
I started the thread refering to diversification within SS but it's meanandered into diversification across platforms. Perhaps if a mod could move it to the general P2P chat that would now be more appropriate!
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Post by moonshine on Dec 5, 2016 15:10:56 GMT
I am also on Mintos because for complicated reasons I already had a Euro bank account. I agree they are good - it is a well-designed and transparent site, with a good spread of lenders. Also do have a look at www.twino.eu/ which is simple and accepts GBP investments. They too have loans with buyback guaranteed. It is not as sophisticated as Mintos but a good way to diversify. and 0risk: Both Mintos and Twino look good, but how does the BuyBack Guarantee work in practice? If they buy back any late loan 30/60+ days overdue, then where is the risk for the investor?
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elliotn
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Post by elliotn on Dec 5, 2016 16:27:31 GMT
I am also on Mintos because for complicated reasons I already had a Euro bank account. I agree they are good - it is a well-designed and transparent site, with a good spread of lenders. Also do have a look at www.twino.eu/ which is simple and accepts GBP investments. They too have loans with buyback guaranteed. It is not as sophisticated as Mintos but a good way to diversify. and 0risk: Both Mintos and Twino look good, but how does the BuyBack Guarantee work in practice? If they buy back any late loan 30/60+ days overdue, then where is the risk for the investor? First thoughts would be platform risk.
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0risk
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Post by 0risk on Dec 5, 2016 16:29:37 GMT
I'd definitely be keen on investing outside of the UK but perhaps a bit early for me and more reading required. You sell Mintos well though! I am also on Mintos because for complicated reasons I already had a Euro bank account. I agree they are good - it is a well-designed and transparent site, with a good spread of lenders. Also do have a look at www.twino.eu/ which is simple and accepts GBP investments. They too have loans with buyback guaranteed. It is not as sophisticated as Mintos but a good way to diversify. Ok, I'll have a look at Twino. And if it has any bonus, you can invite me via personal message.
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0risk
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Post by 0risk on Dec 5, 2016 16:50:51 GMT
Whitbourne and 0risk : Both Mintos and Twino look good, but how does the BuyBack Guarantee work in practice? If they buy back any late loan 30/60+ days overdue, then where is the risk for the investor? First thoughts would be platform risk. Buyback happens when it's 60+ days overdue, by the loan originator. Probably the main risk is the loan originator itself. Notice that there is an extra layer here. Mintos is just the online platform that links lenders to loan originators. The originators may offer lendings in different countries and sectors. So, it's wise to difersify among different originators. Also, you don't need to have a Euro account. I use Transferwise to transfer funds. It's very cheap. PS: I can invite you both to Mintos (1% bonus) and Transferwise (first transfer free) :-)
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twoheads
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Post by twoheads on Dec 5, 2016 17:08:16 GMT
Also, you don't need to have a Euro account. I use Transferwise to transfer funds. It's very cheap. I concur with the Transferwise recommendation. I've been using it for a two or three years now to fund a Euro account which I use for foreign travel. It works out quite a bit cheaper than using banks for such transactions between currencies.
Previous to Transferwise, I used an online currency trading site which worked out even cheaper. Unfortunately they stopped my account because I wasn't actually doing what they saw as 'real currency trading'. I was merely funding a trading account in GBP, shifting it to a EUR sub-account (when I liked the rate) and making EUR withdrawals. It worked well while it lasted!
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