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Offering principals support

Cardiff-based Next Generation Mortgages is launching a support service targeting intermediaries applying to be directly authorised by the FSA.

There will be no upfront fee for principals or prospective principals signing up to the service but they must commit to submitting two specialist mortgage cases through NGM every month.

Features of the NGM Principal offering are: compliance support including a member manual, file checking and a 24-hour member helpdesk; access to packaged and direct lending panels; proc fees paid in full and ongoing training and competency support.

Other components include an annual audit, free mortgage sourcing software, marketing support, local business development support and access to general insurance and life assurance panels.

NGM says this launch follows the success of networkone, its appointed representative network arm.

Director of operations Sian Markham says: “Our intention is to offer a robust service that adds value. We have put effort and resource behind this and that&#39s why we were not among the first companies to show their hand to principals. Our goal is not to be the biggest provider of services to principals but to be one of the best.

She adds “We want to appeal to a distinct group of people, namely mortgage professionals who have high standards. We are looking to recruit 150 members between now and M-Day but if our Principal offering is as well-received as we believe it will be, I&#39m confident that this can be achieved well before then.”


TMB unveils its online system

The Mortgage Business has unveiled its online case processing service for brokers and will relaunch its entire product range next month. The HBOS subsidiary says the online system has been designed to incorporate the firm&#39s own flexible underwriting system, will be easy to use and will allow for faster mortgage decisions and quick offer turnarounds. […]

London Scottish Mortgages appoints management team

London Scottish Mortgages has appointed a management team ahead of its planned relaunch at the Mortgage Business Expo in May. LSM&#39s team will be led by Kevin Cooke as head of secured lending, with Martin Coates assuming responsibility for sales and marketing activity. They replace the previous directors, Mike Rashman and Carl Montlake, who have […]

em-homeloans adds to Platform-funded product range

Branded lender em-homeloans has announced three additions to its product range funded by Platform. The additions include a minor adverse self-certification product with a maximum LTV of 75%. There is a range of rates available from one to two-year trackers, where the reversion rate is LIBOR plus 2%. There are also two exclusives offering £650 […]

Banco Halifax Hispania reduces rates on Spanish mortgages

Banco Halifax Hispania, the Spanish arm of Halifax, has today reduced the interest rate charged on its Spanish mortgages. The company says that while the UK&#39s mortgage rate has been rising, the situation in Spain is very different. The new rates are 3.05% for loans below 60% of the valuation of the property and 3.30% […]

Apple: a stellar technology story

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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