60 seconds with...Greg Woodhams

7 June 2010 | By Christine Toner

You were at Countrywide until January this year - why did you move?
I had a great time at Countrywide and spent 13 years there. But the opportunity to head Sequence Mortgage Services across 300 branches in a national role made my decision to move easy. The proposition here is strong and demonstrates a close synergy between estate agents and mortgage services.

How is the estate agency sector faring?
It’s been a tough three years but I’d say we are on the road to recovery. The past few months have seen house prices rise, new lenders enter the market and some 90% LTV products making an appearance for the first time in ages. Estate agents and mortgage servicers working in partnership have had to be creative and resilient, and will be well placed when seller and buyer confidence fully returns.

How do you feel about the scrapping of home information packs?
I think the removal of HIPs is great news for our industry. The speed of the decision should also instil confidence that this government has a housing market recovery high on its agenda. Any decision that cuts the cost of moving and encourages a rise in the number of houses on the market must be good for everyone.

Do you think the coalition government will improve the market?
Coalition or not, the country and the City need to see leadership and a clear recovery plan. The debt needs to be repaid without affecting employers’ decisions to grow their workforces. Banks and mortgage lenders also need to be prompted to free up lending to encourage buyers. Presently, repaying their debts to the government is at the front of their minds which may restrict their desire to lend in future. Renegotiating the timing of the repayments might ease lending.

When do you think things will pick up?
They have already picked up. Despite poor weather at the start of the year and the distraction of the general election we have seen new instructions rise markedly and house sales are up against last year.

Provided we see more appetite from lenders and increased flexibility with regard to LTVs there’s no reason why this trend should not continue.

Interview by Christine Toner