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Legal & General launches two year flexi fix mortgage

Legal & General has launched a two year fixed rate mortgage with flexible features allowing overpayments, reborrowing and payment holidays without redemption charges.

With interest fixed at 6.39 per cent until February 28, 2003, the mortgage also offers borrowers a choice of a cashback of £200 or a free legal service for remortgages.

Redemption charges will apply only if the entire loan is paid back before the end of the fixed period. Loans up to 95 per cent are available.

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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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