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Pink calls for lender code to cover transition period

The Lichfield-based mortgage distributor has called for the Council of Mortgage Lenders or the Intermediary Mortgage Lenders Association to issue a clear code of practice as lenders adapt to the changes that will take place.

Dev Malle, associate director at Pink, says: “Many lenders have their own processes in place making this a confusing time for intermediaries.

“It is this ambiguity that could lead to differing interpretations – something which could end up impacting on the consumer.”

The aim of FSA regulation is to protect the consumer and Malle fears this is being jeopardised by the current confusion.


Which? urges public to Bite Back

It is hoped the British public, fifteen million of whom stood up to companies in the last year, will log on in their hundreds of thousands. Bite Back – Which?&#39s biggest ever consultation of consumers in the UK – marks a change for the organisation, with the name Which? now encompassing both Which? magazine and […]

70% of regions see landlord rental incomes rise

Rents increased in seven regions, with the largest rise in Wales, up 11.4% to £8,859, the East Midlands up 6.3% to £9,721, and the West Midlands up 5.5% to £9,499. Rental incomes in both the North-West and East Anglia rose by over 3% to £7,009 and £8,854 respectively, while smaller rises were seen in the […]

Moneynet suspends mortgage brokers

The move comes as concern grows for thousands of home buyers who could lose out on their property transactions as the Mortgage Day deadline looms. The initiative by Moneynet – which has itself won full FSA approval to arrange regulated mortgage contracts – reflects concerns that many UK brokers will not be compliant under the watchdog&#39s […]

Leeds restructures top team

Changes include the creation of three divisions within the society – finance, operations and development. Kim Rebecchi, general manager at L&H, has had her role extended to include responsibility for the intermediary sales force as well as branches and direct sales through the call centre. Rebecchi says: “We do 50% of our lending to intermediaries […]

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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