I like the ammount of detail Bondster provides, even though some information is somewhat irrelevant.
Maybe Bondster will find a solution for the problem of a large number of loans running late, In that case, I will post an update.
I have invested in LIME Loans with buyback in 30 days, and they still appear as 31-60 days late as Loan Originator is not buying back the loans according to terms and conditions.
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Three weeks ago I contacted support and I was given this answer on 27.04.2020: "Transfer of the Debtors鈥?repayments to the Investors and realization of Buybacks is an obligation of the Provider. In the event that the Provider's Virtual Account maintained on the Bondster Portal shows an insufficient balance, it is not possible to make payments through it, including realization of Buybacks and transferring the Debtors鈥?repayments to Investors' Virtual Accounts. Everything depends on Provider鈥檚 timely fulfillment of its obligations, which in this case means ensuring a sufficient balance in its Virtual Account. If the Provider does not have sufficient funds in the Virtual Account, it is unfortunately not possible to make respective payments."
Since then I haven't received a cent.
Conclusion: Lime Loans is not paying and Bondtser is unable to manage the situation. I will forward this information to Mintos and rest of p2p platforms as I find it of interest for all other investors.
Update: 28.05.2020: Loans are +60 days late. LIME Loans haven't paid a cent. Bondster has blocked in Facebook so I cannot comment on their page.
Update: 29.05.2020: Loans have been finally bought back at last. Ordered withdrawal. Y will update when money is on my account.
An interesting product that the platform offers is a Smart Reserve. Smart Reserve is basically a loan you can invest in for 3,99 % p.a. but you can exit from any time you want for zero cost and therefore benefit from its high liquidity.
Based on my experience, Bondster has an interesting return on investment- in combination with the amount of risk, diversification into multiple possibilities and liquidity- that each investor can determine for himself. Due to the platform鈥檚 clearness and simplicity and also the required minimum amount of initial investment (5 EURO) the platform might be a great tool to start with a P2P investment and to gain first experiences.
…Of course, there are many options out there, but Bondster has a surprisingly nice mix combining high quality Loan Originators, a very interesting annual return and a wide array of assets to choose from…
If you haven't joined this platform yet, I sincerely recommend giving it a try. Feel free to use this link https://bit .ly/2QHKJoV (remove the space after "bit") to gain 1% cashback from all you invest the first 90 days!
High quality place where you can use your finances effectively. Reliable, clear and easily accessible. Five out of five.
I feel the urge to edit my review from a few months ago.
First, in direct communication with Bondster, they promised the introduction of an app by the end of Oct 2019 to optimise the repayment processes. That didn't happen and the situation got worse. Almost all originators use a loophole to pay the already received instalments 6-7 days late. Most long term loans monthly or forthnightly payments are being paid out 14-15 days late even though the originators claim to have received the payments 4-5 days after the scheduled date. Late fee payments for these 14-15 days of delay are not paid. The website does not update the actual loans availability and often there are long list of available loans with 0 to invest in.Sometimes certain numbers are shown as dates.I observed other strange irregularities and I have taken dozens of screenshots to prove my statement. The software gets messier and it looks like the management makes promises but does not care or is unable to sort out various software problems. I spoke with one of the originators' representative and he was not aware of the problem with the late distribution of repayments without the application of late fees. I am in two minds whether to start withdrawing all repayments or to hold hoping things will get better.