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October newsletter

FEATURE PROPERTY - Woodshed Barn, Dalton On Tees

Woodshed Barn is an attractive two storey barn conversion, which was created from a range of brick built farm buildings, formerly part of Chapel House Farm. Standing on a well proportioned site, with reclaimed stone set driveway to the front providing off street parking and access to the garage. The property forms part of a small community with two further barn conversions within the courtyard. Generous accommodation is well proportioned and to the ground floor an pleasant outlook over the courtyard and enclosed walled gardens to the rear. The fixtures and fittings are to a high standard and the property is immaculately presented.

Hurworth Show 2017

Our Darlington valuers Sonia Walton and Henry Carver both enjoyed seeing everybody at our stand at the Hurworth country show this year!
Thank you to our clients in the Hurworth area who visited them for a chat and a drink! Don't forget we have an office in Hurworth where we display our properties within Hurworth and the surrounding areas. 
Until next year, we hope to see you all there!

Ready for Halloween?

Pumpkin planters are the latest craze this Halloween!

Click here to read Ready for Halloween?.

Carver residential vacancy

If you think you have what it takes to be part of a vibrant and proactive sales team in Darlington, we would love to hear from you!
We are offering an exciting career opportunity with an attractive salary and bonus package.
We are looking for someone with sales experience within the industry and a full clean driving licence interested in working 35 to 38.5 hours a week.
If this sounds like you, please get in touch!
Please send all CVs and enquiries to or contact our Darlington office on 01325 357807.

Spotlight on...Mike Ball

We are pleased to introduce our newest staff member of the Northallerton office, Mike Ball!
Mike has 30 years experience in estate agency and is married with two children. In his free time he enjoys walking, cycling and caravanning!
We asked Mike a few fun questions so you can get to know him better!
Where is your favourite holiday destination?  Southern Ireland
Who is your favourite actor?  Stephen Fry
What would you most likely be doing on a day off? Cycling
What 3 things would you take to a desert island? A good book, good music and red wine!
We hope you will join us in welcoming Mike to the Carver team and feel free to pop in and say hello to him in Northallerton!

The latest from MAB

New rules coming in at the end of September around portfolio buy-to-let investing.


From the 30th September this year, landlords with four or more buy-to-let properties will have to satisfy different criteria to secure mortgage borrowing, as they will be considered ‘portfolio investors’ under new rules being introduced by the Prudential Regulation Authority.

In order to comply with the new portfolio landlord underwriting standards, lenders will now be looking at the total income versus borrowing across all a landlord’s properties, to ensure that any new borrowing doesn’t adversely affect affordability for other properties within the portfolio.   

This means more work for lenders, who will have to investigate each mortgaged property held by the landlord in more detail, then apply an Interest Coverage Ratio (ICR) across the portfolio. This ICR will vary, depending on the individual lender and the number of properties owned with a mortgage

In addition, in some cases, the lender will also take into account the landlord’s individual earned income/salary.

Brian Murphy, Head of Lending at Mortgage Advice Bureau, comments: “The impact of the increased underwriting resource required to implement these measures has meant that some smaller building societies have announced that, for the time being, they will not provide buy- to-let mortgages for investors with four properties or more, however, many providers - particularly those specialising in buy-to-let - will continue to offer mortgages to both portfolio and non-portfolio landlords.”

The reality is that the majority of landlords will not be affected. A survey carried out by the Strategic Society Centre in 2013, showed that 72% of private rented sector (PRS) landlords had just one rental property, with 12% owning three or more. A further survey of 1,071 landlords, carried out by YouGov on behalf of Shelter in mid-2015, found 59% had one buy-to-let, with 32% owning between two and four. This survey also revealed 45% of landlords owned their property/ies outright, with no mortgage borrowing, and a further 40% had a loan to value of 50% or less. As such, it’s unlikely that the buy-to-let sector will experience much disruption as a result of the new rules.

For those who own four or more properties, as well as those who currently have three and plan to buy a fourth, the change is likely to mean a more limited choice of lenders and products when they come to purchase or remortgage. But, realistically, only those who have highly-leveraged properties and are not seeing much cash flow need to be at all concerned.


The practical differences the new rules will mean for landlords


If you already fall into the category of ‘portfolio investor’ or are planning to add to your portfolio and will therefore become one, these are some of the key considerations for you, moving forward:

The application process will undoubtedly take longer 

This means planning well ahead and making sure you allow three months or more for lenders to make the checks they need.

You may not be able to stay with your current lender when you refinance

Some smaller lenders, particularly building societies, have decided not to continue offering buy-to-let mortgages to portfolio investors in light of the extra work required to satisfy the new rules. So, if you have four or more properties, you should contact your lender right away to find out:

  • Where you stand with your current mortgage deals
  • Whether you will be able to refinance with them
  • How they might be able to help you secure new mortgages elsewhere, such as giving you a little extra time before your current deals expire.

You will need to provide your lender with much more detailed information 

That is likely to include, for every property you own:

  • Current mortgage borrowing
  • Rental income
  • Related outgoings
  • Rental profits
  • Tax and business returns


  • Other financial assets held
  • Personal income

As some of this may take time to secure and could vary slightly from one lender to another, make sure you ask your broker for a complete list of what you will need to provide as early as possible.

So if you have not carried out a buy-to-let portfolio review within the last six months, now is definitely the time to do so. Work with your tax adviser, mortgage adviser and wealth manager, if you have one, to assess your total level of borrowing versus assets and take advice on whether you might need to make any changes in order to reduce the likelihood of running into any difficulties securing mortgage finance in the future.

Brian Murphy concludes: “The sum total is, if you are an ‘accidental landlord’, for example letting only one property due to a change in circumstances, you won’t be affected by the new legislation, therefore it’s a case of continuing as normal for most. In fact, the income tax changes that have been recently introduced will possibly have a far greater impact in the longer term.”

If you are a portfolio landlord and have any concerns about the potential availability of finance for either a new mortgage or a remortgage, please get in touch with us and one of our advisers will be very happy to talk through your options.


For further information call: 01325 380088



Your property may be repossessed if you do not keep up repayments on your mortgage.

There will be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.

The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

Attention Bake Off fans!

Great British Bake Off mansion up for sale...take a look inside!

Click here to read Attention Bake Off fans!.