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Whitechurch cuts its member fees

The Whitechurch Network has slashed its member fees and says its appointed representatives will now be able to pocket an extra 2,500 in commission.

The network has launched a new fees structure to entice brokers to join.

At the moment, the network takes a 10% cut of its ARs’ proc fees each year.

This means if the average AR’s proc fee amounts to 50,000 every year, the network will pocket 5,000.

But now new brokers joining the network will only have to hand over 200 of their monthly proc fee, meaning they will save up to 2,500 a year.

The Whitechurch Network has been in existence for six years and has some 180 ARs at present, but hopes this new fees structure will help it to expand.

Ian McIver, managing director at The Whitechurch Network, it welcomes ARs from other networks as well as directly authorised brokers wanting to become ARs.

He adds: ” Our growth has always been organic and not through acquisitions like with other networks.”


UCB links up with environmental charities

UCB Home Loans has linked up with two charities which focus on issues related to global warming.The move forms part of the lenders programme of green initiatives, which includes the production of publications, consumer and industry awareness projects, an internal carbon-saving programme, and future product development opportunities.The two charities it is linking with are EarthFireIce, […]

KGB offers free vals

KGB Packaging is offering free valuations on all Mortgages PLC’s standard mortgage products, with the exception of buy to-let deals.Rachel Bancroft, managing director of KGB packaging, says: “We are delighted to make this valuable benefit available to brokers that introduce their Mortgages PLC cases via KGB Packaging. “A free valuation can represent a substantial cost […]

EDGE users to receive free legals

Enterprise Group is offering free valuations and free legals for all products sourced through its EDGE sourcing system.Provided EDGE is used upfront to source the solutions and checklists for products, brokers on Enterprises panel will qualify for the discountsEDGE currently has 2,600 registered brokers across the UK, and version two will be launched in the […]

Inequitable treatment of equity release

Wasn’t it comforting to see financial guru Martin Lewis on TV last Monday having yet another go at an industry which is no doubt making so much money for him?

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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