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Written by rosalind renshaw

Countrywide says that its 650 mortgage consultants dealt with a 12.84% increase in mortgage applications during May, compared with April.

But it did not reveal what proportion of the applications were successful and stressed that mortgage affordability remains a critical issue despite many lenders relaxing lending levels. It described sales as 'hesitant'.

Applications for fixed rate mortgages dominated Countrywide’s Top 10 Most Popular Mortgages, with all ten being fixed rate products requiring an average deposit of 12% at an average rate of 5.46%.

Seven out of ten of May’s most applied for mortgages were 90% LTV products, highlighting the demand for higher LTV products, particularly from first-time buyers struggling to raise the substantial deposits still required by most lenders.

Overall, remortgage applications fell for the third consecutive month, making up 23% of all mortgage applications in May. However, remortgaging in the specialist buy-to let sector jumped 6% compared to the previous month.

Countrywide has also reported that whilst sales activities are muted, lettings continues to soar. The number of sales agreed in May was up 2.3% in May compared with April, a very quiet month, and a decrease of 10% compared with May last year. By contrast, the number of properties available to let rose by 14% and the number of new tenant applications rose by 20%.

Grenville Turner, chief executive, said: “Rather than seeing the traditional uplift in sales activity we tend to see in the summer months, we appear to be in the middle of a stand-off between buyers and sellers.

“Those sellers with realistic house price expectations that want to sell are selling. Those with a more speculative view of the market are not.


“Buyer interest in purchasing property remains robust across much of the country, with London and pockets of the South-East being the strongest with demand remaining high.
 
“However, the hesitant nature of the current sales market is seeing an increasing number of home owners considering dual marketing their properties in the sales and the rental market in an attempt to see where the greatest financial value is, and we expect this to continue in the coming months.”

Comments

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    James, I don't think you realise that you look just as big a t*sspot as "Corporate Paul".

    What makes you think are you any better?

    • 01 July 2011 13:38 PM
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    Corporates have a 35% market share where I am due to their:

    strength in numbers (co-operation between branches?! open warfare more like)

    Strength in advertising (we advertise more than they do and our adverts were not designed by a seven year old with a new geometry set))

    Strength in skills (imagine how pleased we are when we find there is a corporate involved in a chain. Reach for the paracetamol and take deep breaths)

    But hang on.

    The area is semi rural.

    There are no easy comparables.

    It requires skill and expertise to sell houses.

    Why are there lots of confused corporate robots going round in circles unable to find a page in their very slim manuals to tell them what to do?

    • 01 July 2011 07:58 AM
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    Oh Dear

    Oh dear oh dear oh dear

    Can you not spot a wind up when you see one?

    When a corporate Paul or similar comes on playing the high and mighty, he deserves every bit of ribbing and inuendo he gets for being so supercillious

    Just a bit of fun

    • 30 June 2011 15:08 PM
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    oh dear: I agree wholeheartedly with your last sentence. Well said.

    Pity you joined the ranks of those you were intent on slagging off with your first two, however...

    • 30 June 2011 12:55 PM
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    I think that the comments from both sides in this post have highlighted the fact that both indepedendant estate agents and corporate estate agents are dicks, especially ones that spend their 9-5 clicking refresh on Estate Agent Today articles.

    To the gerneral public, please do not base you whole perception of Estate Agents on the complete idiots that post on this site. There are some decent ones out there that have your best interest at heart, both independant and corporate, it's the staff that make them, not the title.

    • 30 June 2011 12:00 PM
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    Cash Speculator lined up?
    Naive Vendor stitched up?

    • 30 June 2011 11:20 AM
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    Paul

    Come and work for me. I can upgrade you to a Skoda Superb on performance like that

    And maybe, just maybe, in a few years, when that wet patch behind your corporate ears has dried out we can consider a Ford Mondeo........ oh yeah baby

    What do you say?

    :-)

    • 30 June 2011 09:35 AM
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    Paul the Corporate: "All about knowing your clients needs and doing the best for the vendor."

    VERY true.

    Can I just get my head around something you said earlier, please...

    Okay - at 13:59 you were leaving the office to list a property on the basis of a £50k reduction from its' advertised price, yes?

    And at 17:17, you had 'sold' it - yes again?

    Arranged the viewing - presumably conducted it also; ALL the negotiations concluded; the whole kit and caboodle - done and dusted in three-and-a-bit hours?

    So - what part of the opening sentence applies in THIS example of your workmanship?

    Put another way - how much more MIGHT you have got for your client if you had fully marketed the property, at a price say £25k below the previous (you know - "doing the best etc etc...")?

    Sad thing is - you will never know...

    Sadder again - I doubt very much you care.

    • 30 June 2011 00:42 AM
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    Paul. I take it back. You are brilliant. BTW it's spelt 'properties'

    • 29 June 2011 23:22 PM
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    Corporate Paul,

    tell me the town and I will look into it for you

    • 29 June 2011 17:23 PM
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    Hi Guys
    Must say if you independents could sell as well as you have ****** out of your mouths you might just be in with a chance of getting near some of those figures you mentioned.

    The Independents here have only sold about 2 propertys in this month, now if they can earn around 12K each out of 1 park home and 1 semi det house at 150K well done, I am in the wrong game.

    These figures don't lie, wonder who is,

    As for the comment about a recently trained neg, I have been doing this job most probably when your mum was wiping your ******

    The other bit about the market share being the companys is crap, people put propertys on with me, I sell the service and about 70% of my business is repeat or referal.

    Now come on ladies and gents, if you want to throw these types of false figures around at least make them half true.

    By the way sold that property I took on today.

    All about knowing your clients needs and doing the best for the vendor. (Just a little tip for you)

    Can anyone tell me if the independents in my town are so good, why have 2 of them had to re-mortgage thier house to carry on trading,

    And oh yes Mtg was with me. - Thanks Guys

    • 29 June 2011 17:17 PM
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    Unhappy Chappy............... NO

    Thank you for your congrats though.

    I could do with some sales like those you mention. 2 or 3 a month would be great, especially if I could do it on top of my current levels. I will work on it next month, I must be slacking this month. Looking out the window too much, or maybe on here too much.

    Taxes, staff, newspapers, printers, rates, utilities, et-al (and RM) all paid,......... yes.

    Thank you again.

    • 29 June 2011 17:13 PM
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    @watching..... did you sell one house at 600K on 2% commision congrats..... I hope you declare all that £12k to the tax man :0)

    • 29 June 2011 16:29 PM
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    There will be crap corporate agents and crap independents. What I do know is that nothing I ever did in the corporate world (and that includes earning a sizeable London salary) even comes remotely close to the satisfaction and reward I get from steering my own ship. I can be flexible on fees if I want to be and when the commission cheques come in I know its all mine. I work far longer hours than I used to but if I fancy a game of golf on a Friday afternoon there is no bean counter telling me that my weekly figures need to be in at 5pm and my spreadsheets completed. If you have the balls, set yourself free, I should have done it many years ago!

    • 29 June 2011 15:45 PM
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    The Corporate Managers Mantra:

    If you work and do your best
    You'll get the sack like all the rest.
    But if you laze and bugger about
    You'll live to see the job right out.
    The work is hard - the pay is small
    So take your time and sod 'em all.
    'Cos when you're dead you'll be forgot,
    So don't try to do the bloody lot.
    Or on your tombstone neatly laquered,
    Those famous words:
    "Just Bleeding Knackered"!

    • 29 June 2011 15:21 PM
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    James,

    We think alike, was just about to reveal I could only pay myself £12k this month coz its a bit tougher than usual, but you got there first.

    In those heady good times, when I was working as a Corporate Manager I earnt just enogh to start out on my own.

    If you are any good, you don't work for 'The Man'

    • 29 June 2011 14:23 PM
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    Paul the corporate - I think you will find the spelling is actually "Independent".

    The fact that you're a 'corp' does not mean YOU are any good. The stupidty of some of these corp staff is scary. These people don't get a chance to put their feet under the desk at an **independent** office, because they are selective.

    Keep up the good work; your arrogance and stupidty will bring entertainment to many, yet do the estate agency world no good at all.

    • 29 June 2011 14:20 PM
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    Now now Wardy don't spoil the fun

    I have this little one on my hook.

    You see Paul, in a good year, a good independent will earn £100,000 salary as a proprietor, and in a 2006 - maybe £250,000

    I am not sure that I know of any little piggies wee wee all the way to the bank with that kind of money

    Come on over, you know you are tempted by the sark side

    • 29 June 2011 14:06 PM
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    James
    Wake up,

    I wouldn't get ot of bed for that sort of money, I am a corporate but they know how to pay pepole who are good at what they do,
    Maybe you like being an independant as there is noone to be accountable to??

    Come to the dark side, no thanks- more interested in making lots of money.

    As for the Skoda, maybe you like that type of car, me don't think so.

    Just off now to list another failed instruction via one of my independant's, wont say rival, that would be to much of a compliment to them.

    It is coming on with me a 50K reduction and I have a better fee, buyer already lined up.
    Give me the money

    • 29 June 2011 13:59 PM
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    ............spoken like a recently trained trainee neg.
    Let me just correct you about your market share comment. YOU don’t have market share. The corporate company/name that made it big in the 80's when agency was piss easy has market share. Seeing as you like percentages so much, how much of that tremendous pipe line will you be taking home? 10% if your lucky with a couple of £50 for recommending some call centre solicitor? Maybe you may earn a bonus for a seat in front of the mortgage bod who can only sell products from a panel of 6 lenders. Earn any money out of the life cover that the cooperates insist on flogging?
    Think again Paul, most corporate EA's are running at a loss. The FS keeps it ticking over and without that you would not have a job.

    • 29 June 2011 13:57 PM
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    Paul I admire your spirit - one day - just you wait - you will step out from behind your corporate veil and become an independant

    If you are as good as you say you are, then your £20,000 basic, Skoda Favorite and 20 days annual leave will not be enough

    Move over my son, come to the dark side

    You know you want to

    • 29 June 2011 13:30 PM
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    James
    I don't have to boost my success to any of my area managers, they just look at the figures and they speak for themselves.
    Then you just have to take into account the market share I have, then look at the sold market share I have.

    1 independant has sold a lovely park home recently.
    That may be enough to buy him a bacon roll.

    Me I have a very healthy pipeline, and this little piggy is laughing all the way home.

    Not like my independants who are slowly handing keys back to the landlords of the office.

    • 29 June 2011 13:27 PM
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    Sounds like our two corporate friends will be suckling from their mother piggy (area manager) later showing them their amusing posts, and then sharing it at one of their "monthly meetings" where they can smile through their polished teeth, at their less succesful colleagues who they like to crow in front of.

    Come on boys you can do better, hit me harder little piggies :-)

    • 29 June 2011 13:18 PM
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    AC - That does not make sense but as you say the vendors want to be lied to, tell them the truth and they will squeel but the one down the road sold for more six months ago.

    It always makes me laugh when an estate agent says i sell houses!

    • 29 June 2011 13:05 PM
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    Brilliant! Thanks Paul, thats made my day.

    • 29 June 2011 12:21 PM
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    Sorry, Paul - you got me. I thought you were actually being serious for a second!

    • 29 June 2011 11:54 AM
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    This will never make 12 rounds, The corporate will put the independent out of business.
    With good instructions, good fees, and good sales.

    Thats the training,
    why are we so good, and why have we grown so big?

    Well it wasn't from having sales abo, or losing instructions.

    Why do we get paid bonus's for instructions, so that we all become motivated,

    Why do we get propertys from other agents, well if you can't be bothered in selling them then we will.

    Why do we get the other corporate instructions, well why would they want to use an agent with one portal who creates details form the 80's.

    Why will we survive when the others fail,
    Because we are better than you, and if you look hard you will see it.

    We corporates have strength in numbers, strength in advertising, strength in skills.

    Sorry but Ian will throw a knock out blow in the 4 round,

    Bye Bye independant.

    • 29 June 2011 11:41 AM
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    That's easy AC - the lower asking price was obviously in danger of attracting the wrong kind of buyer.

    • 29 June 2011 11:33 AM
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    Round 3,652

    DING DING!!!

    And the independent feints to the left while the corporate dodges neatly to the right.

    Bobbing and weaving, ducking and diving.

    It'll never change unless homeowners stop falling for it.

    They WANT to be lied to.

    I've seen it a million times.

    AND posted about it on EAT a thousand times (never one to exaggerate!)

    I've just seen a house in my area change agent after a sale fell through.

    Despite the house being on the market with the 1st agent for months, reducing the price several times, it has now gone back on the market after a downvaluation made the sale fall through at a higher asking price than it was on the market for originally.

    Please, somebody explain to me how that could possibly make sense?

    • 29 June 2011 11:31 AM
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    I reckon the corporate will be disqualified in the 12th after a low blow involving a 'call me urgently' compliment slip..

    • 29 June 2011 11:13 AM
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    That has me grinning ear to ear Wardy, I actually guffawed in laughter, very funny.

    On a serious note! Who is your money on?

    • 29 June 2011 10:52 AM
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    DING DING!
    round two....in the red corner an independent who relies on decent instructions and realistic motivated vendors.

    In the blue corner we have a corporate, paid per listing and uses percentages of market share as a willy waving exercise.
    ….FIGHT!

    • 29 June 2011 10:48 AM
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    James - Your comment is really boring everyone now. There are independants in my patch that have absolutely no idea how to value, couple that with no sales talent and you have some wild asking prices. We also have a 30% sold market share.....you can't do this when you overvalue can you?

    • 29 June 2011 09:35 AM
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    The policies of over valuing to win listings comes home to roost then.

    • 29 June 2011 08:49 AM
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