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PHL makes move into buy-to-let

Pink Home Loans has set up a new range of mortgage deals, including two buy-to-let products, as well as fixed-rate, flexible and tracker deals.

Its first buy-to-let mortgage is funded by Mortgage Express and has a rate of 1.99 per cent fixed until June 3, 2003.

The second buy-to-let offering is a three-year stepped discount deal funded by Legal & General Bank. A discount of 1.25 per cent off the base rate of 5.74 per cent applies in the first year, making the rate 4.49 per cent.

In year two, the discount is 0.75 per cent, making the rate 4.99 per cent, and in year three, the discount is 0.5 per cent, making the rate 5.24 per cent.

Mortgage Express is also funding a fixed-rate loan at 4.79 per cent until June 3, 2004.

PHL&#39s new discounted tracker mortgage is funded by Verso. Its 0.73 per cent discount applies for three years, giving a rate of 5.25 per cent. It will then track the Bank of England base rate plus 1.98 per cent, giving a current rate of 5.98 per cent.

It is also offering a flexible base rate tracker with a discount, funded by The Mortgage Business. The discount is 0.5 per cent for one year, making a rate of 5 per cent. The rate tracks the Bank of Scotland base rate plus 1.5 per cent, giving a current rate of 5.5 per cent.

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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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