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NatWest to pay £500 cashback on many residential fixed rates


NatWest will be paying £500 cashback on selected residential two- and five-year mortgage deals from tomorrow.

The lender is also raising rates on many of the two-year products and cutting them on the five-year loans.

NatWest’s new two-year fixed rate range will include a 0.1 per cent rate increase to 1.42 per 60 per cent LTV product with a £995 product fee and the new cashback.

The range will also incorporate a rate rise of 0.9 per cent to 1.58 per cent on an 80 per cent LTV mortgage, also with a a £995 product fee and £500 cashback.

At 95 per cent LTV the lender is increasing rates 0.15 per cent to 4.29 per cent with no fee and £500 cashback.

For five-year fixed rate residential loans the lender is cutting rates by 0.30 per cent to 1.82 per cent at 60 per cent LTV with a £995 product fee and £500 cashback.

The five-year range will also include rates being reduced 0.22 per cent to 2.26 per cent at 80 per cent LTV, also with a £995 product fee and £500 cashback.

NatWest head of sales Mark Bullard says: “We know that cashback deals have proved to be very popular with first-time buyers, so we are really pleased to be able to make these available to home movers as well, across a wide range of LTV bandings.”



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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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