Across Lender excels in the Baltic P2P platforms. Minthos * was the first P2P platform that I tried. Across Lender is a new crowdlending platform based in Latvia. At Across Lender, real estate-backed loans are granted by private investors over the Internet. The Across Lender P2P platform offers the opportunity to invest in personal loans worldwide.
Across Lender P2P Loans: Experiences, Dangers and Interesting Facts
The P2P portal Across Lender enables investments in personal loans around the world. In this article we report on our experience with Across Lender. For this purpose, the P2P lender cooperates with various lenders and acts only as an intermediary. “Mint” means mint or large mountain of money. The high-growth Across Lender team is made up of many young and committed financial experts.
We share our experience reports and important information with you. Now we have 2 years of Minto’s practice. Because we are not only investing in loans with a buy-back guarantee, some loans have also fallen behind, but as the yield shows, the result is still quite decent. The transfer was smooth and the money was back on our account in Germany within 3 days.
We therefore have consistently good experience with Across Lender. As early as 2018, the total amount of loans issued was over one billion. Around 85,000 investors are currently on Across Lender. At Across Lender we believe in a very open corporate culture and absolute openness to all partners. Across Lender does not charge direct business fees.
Coins and lenders are only paid out at an interest discount
The borrower must therefore pay a slightly larger share than the investor pays on the interest. Across Lender offers several types of loans for investments. The largest credit type is the consumer credit group. This was followed by car loans and so-called payday loans (short-term loans “by the way?).
The lending business starts with a loan application to one of the various lenders listed on Across Lender. The lender checks the creditworthiness of the client and then offers the loan at an individual rate of interest. After being accepted by the borrower, the lender pays the loan to him and then lists the loan at Across Lender.
After the investment is completed, the lender gets his capital back. Today he is only responsible for credit management and accounts receivable management. Of course, investors are also entitled to interest on the loans. Basically, P2P loans are a very risky investment, regardless of how broad the loan portfolio is.
From a purely legal point of view, investments in P2P credits are an allocation process. In most cases, the lender and also Across Lender are only active as intermediaries. Non-payment by the borrower: If the borrower does not pay, Across Lender is activated and the dunning procedure is carried out. This process is either handed over to a bailiff or carried out by the lender.
The individual loan can thus become a loss-making business. Insolvency of the lender: If the “direct structure” was used for the investment, the investor receives a lawsuit against the borrower. Thus, the lawsuit continues even if the lender becomes insolvent. In this case, Across Lender is responsible for the administration and processing of the loans and returns the processing later if necessary.
The “indirect structure” represents an increased residual risk in the event of the lender’s insolvency, since there is only one claim against the lender. In this case, Across Lender has obtained a right of attachment to meet investors’ claims, but it is doubtful whether this is sufficient in an emergency. Across Lender insolvency: In this unusual event, all credit information is merged with a contractor company.
Insolvency administration would continue the existing loans and guarantee the payments, since Across Lender only looks after the loans and has no liability to investors. In the event that a credit brokerage platform in England becomes insolvent, however, granting loans to investors has already caused problems in its implementation. To protect investors, Across Lender provides an automated repurchase guarantee for certain loans.
They are marked with a small sign in the creditworthiness overview. In the event of late payment of more than 60 days, the lender will withdraw the loan. The total amount of the loan plus the interest on borrowings accrued up to that date will thus be credited to the investor. The better a lender’s financial situation, the better his buy-back guarantee.
On this screen, you can select the appropriate country, lender and various foreign currencies. The heart of the car investment is the different interest rates and maturities of the loans. The available equity is divided between the individual projects in accordance with the specified investment volume per loan. If an investment is again possible through interest rate loans, the amount of money will be reinvested immediately if the AutoInvest is still in use.
Is there a Across Lender application?
No application is currently available for Across Lender. However, it cannot be completely ruled out that a Across Lender application will appear in the future. What is the average interest rate for Across Lender investments? Across Lender itself reports an average net interest rate before income taxes of 11.66%.
As a borrower’s creditworthiness deteriorates, the potential return on investment increases. Secured loans are less common, but also less interesting. At the top of our Across Lender experience, you can read that we ourselves had a slightly higher interest rate. More directly at Across Lender: All you have to do is click on the “Deposit Money” tab.
After that, only the amount of money has to be selected and the amount of money topped up. We have had very good experience with Across Lender in this regard so far. The deposited funds were quickly available in our account. If you want to see how Across Lender works, you can watch this Youtube video: