c2 financial is to hand a large proportion of its income back to consumers across most of its sub-prime range.In addition to the proc fees paid to intermediaries, c2 will also pay 0.75% to the consumer in the form of cashbacks and free valuations. David Wylie, managing director of c2, says: “Costs are firmly under control here and we are operating more efficiently than ever. This has allowed us to look at the value we can add for brokers and their customers. “With cashbacks and free valuations we believe intermediaries will vote for us with their feet.” c2 claims that while other packagers have made limited attempts to add value, nothing has been done on this scale before. The concept of giving money back to the consumer is initially being launched through the GMAC-RFC and SPML ranges to avoid service problems. c2 expects to extend the concept across its entire sub-prime range over the next three months.
From Vanessa Blount I’d like to take this opportunity to respond to Christopher Platt’s letter in the October 3 edition of Mortgage Strategy. Paaleads.com prides itself on forming lasting business relationships with its members based on honesty and communication from the initial call through the lifecycle of the leads account. Part of this culture is […]
GE Money Home Lending, has introduced a new refinance facility exclusively for its existing igroup mortgage customers. From October 14 2005, igroup customers will be offered lower rates if they return to igroup for a new mortgage. The key enhancements include a 0.25% rate reduction on all one- to two-year fixed or discount products on […]
Coventry has revamped its intermediary website and introduced a facility that allows brokers to track their own procuration fees. The improved website is designed to offer introducers easy access to the society’s lending policy and products and also features a secure area offering the facility for them to obtain a credit scored application in principle […]
Barclays and Woolwich have launched a range of new mortgage deals with competitive rates.They offer a two-year fixed rate until January 31 2008 at 4.89%, and a five-year fixed rate until January 31 2011 at 4.99%.The products are available with no arrangement fees and no early repayment charges beyond the fixed period. There will also […]
By Ali Unwin, head of technology sector research
Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.
At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.
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