Investing through Mintos?

Hi folks,

A friend of mine has just told me about Mintos.

I’ve done some research on the web and get mostly positive reviews.

I was just wonerding if anyone on here has used it to invest and if you wouldn’t mind sharing your thoughts on it as I’m curious about signing up and trying it out myself.

Thanks in advance! :slight_smile:

I used them for a while a couple of years ago.

I don’t remember having any problems with them.

One standout features was the ability to automatically select loans for investment using a highly granular set of filter options.

When I was using them, I think the loans were all outside the UK. Not sure if that’s still the case.

I stopped using them because I wanted to move all my P2P investments into IFISAs, which rules out Mintos.

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Terrible :sneezing_face:

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A look at their loan book shows that a lot of their loans are high risk with predatory interest rates. The reason they’re able to offer high rates of return (relative to other P2P lenders) is because of that increased risk. Although you might have strong returns during a good economy, these type of loans are the first to default when the economy struggles… a recession would almost certainly hurt substantially. If you are to invest with them it should be a small part of your portfolio (the size relative to your appetite for risk).

Personally I wouldn’t touch this because of the interest rates, I would not want to profit from the predatory nature of payday loans[1]. Loans are usually a good tool used to the borrowers benefit, payday loans unfortunately are not, they frequently take advantage of vulnerable borrowers. Payday loans are more than 30% of their business, and 20% of their payday loan borrowers are late on repayments.

Here’s their statistics:

[1] Some countries have somewhat reasonable regulations around payday loans but many countries do not, and looking at the countries on this platform it looks like most of these loans will be poorly regulated (or not regulated at all).

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Well, I’ve been investing in Mintos for almost 4 years.
My experience on this peer to peer lending is pretty good because until two months ago I had almost 100% of the loans in good shape.
Now I have some overdue loans, but the way the platform is set up the important thing is the financial health of the lenders rather than the borrowers.
The mintos buyback system doesn’t guarantee absolute security anyway.
Average yield 11% or less.
It is important to focus on the best lenders on mintos rather than spreading the money on all lenders.
In these months some small lenders are suffering delays but I must admit that I have not had any impact and the payments continue to flow smoothly.
I rely a lot on the Mintos reviews of Revenueland and also obviousinvestor to set up mintos at its best.
They are not the only ones and many investors share their strategies on mintos and other p2p lending, but watch out for those too enthusiastic. The risks are there and the capital is by no means guaranteed even on the best peer to peer lending.
It is important to set up Mintos in a safe way rather than aiming for maximum profit in my opinion and I think I have succeeded for now.
For those who invest from the UK unfortunately Mintos is not available. Mintos is as big as Ratesetter and Zopa now.
As someone comments before me it is true that some lenders on mintos may not be too ethical and charge very high rates. In fact I too have some doubts about the ethics of p2p lending.