MyHaus Property are delighted to present this superb 3 bedroom detached house offering immaculately presented living accommodation and a large garden

The property is located in the highly sought after location of Patcham, just a few miles out of Brighton. The property has been extensively renovated with no expense spared on the build quality, fixtures or fittings. The property is located a 10 minute walk from Patcham primary school, with local convenience shops a few minutes walk away.

The accommodation comprises of a large living room, open plan kitchen dining area, 3 well sized bedrooms and a modern, luxury family bathroom with underfloor heating. All three bedrooms are complemented by bespoke fitted wardrobes. The property boasts a large kitchen/dining room with adjacent utility room and WC. In addition the property has a large summer house and shed at the end of the garden, providing a paved seating area and basic kitchen facilities for summer gatherings, a large garage and ample off-road parking.

For more details, or to book a viewing please contact sole agents MyHaus Brighton..

Email us at info@myhausbrighton.co.uk or call us on 01273 286788.

The big news for the UK property market in December is the first rise in interest for three years! The predictions from various lenders are a less frenetic housing market in 2022 .

These are just some of the headlines this month in December’s UK property market update. Read on to find out more!

Interest rates rise for the first time in 3 years

The Bank of England has increased interest rates for the first time since August 2018, the highest for 10 years.

Homeowners with tracker or variable mortgages, it is likely to mean an increase in monthly repayments averaging £10 to £15.

Around two million homeowners will be affected, but with fixed- rate mortgages being popular, the change won’t impact all property owners immediately.

The interest rate increase has been rumoured for some months and is a response to inflation levels reaching 5.1%  way ahead of the Bank of England’s 2% target.

UK house price boom expected to end in 2022

One of the UK’s biggest lenders is forecasting an end to the current housing boom next year.

According to Halifax, market growth is likely to remain ‘broadly flat’ in 2022, following two years of remarkable growth.

Following increases of 6% in 2020 and 8% in 2021, the lender is predicting growth of 2% at most, with a flat market being the more likely scenario.

The main reason for this slowdown is the rise in household goods and bills, meaning a squeeze on budgets for many households

Bank of England plans to relax mortgage affordability rules

In positive news for first-time buyers, the BoE has revealed its plans to make mortgages more attainable.

As part of the current criteria, homeowners have to prove they could meet repayments on lender’s standard variable rate if they increase by 3%.

However, early next year, the bank will be meeting with big-name lenders and industry experts to discuss withdrawing the outdated rule.

The rule was one of many affordability rules introduced in 2014 following the 2008 financial crisis. Its aim was to ensure that a sharp rise in interest rates wouldn’t result in people not affording their payments.

However, at that time, interest rates were forecast to increase to 2.25% over the next five years. Currently, interest rates stand at  0.25%, and latest forecasts indicate that any rise in interest rates will be slow.

If the planned rule change does come in, it’s likely to be a big boost for first-time buyers, many of whom wouldn’t meet the affordability criteria under the current rules.

Survey reveals just how much parents are willing to help their children get on to the property ladder!

A study by Zoopla has revealed some of the eye-watering figures parents are willing to gift their children to get them on the property ladder.

According to the study, the average amount forked out by parents to help with a deposit is £32,440, while 14% of the parents polled have given them upwards of £50,000.

The findings also revealed that an incredible 64% of parents of homeowners gave them at least some money towards their deposit.

And it doesn’t stop once the kids have fled the nest either! The results also showed that 36% of parents have helped with their offspring’s rent or mortgage payments at some point.

Council finds unique way to solve housing crisis

One council has come up with a novel way of solving the housing crisis in its area.

West Devon Borough Council is offering money to tenants who downsize, as part of its efforts to tackle a shortage of affordable family housing.

Anyone with a council rented property who moves to a smaller home will be given a £1,000 fixed payment, plus £500 per bedroom they release.

So, a couple who downsize from a three-bedroom house to a one-bedroom flat, would receive a payment of £2,000. The council has confirmed that in some cases, the payment could be as high as £5,000 where housing stock is particularly pressurised.

Devon County Council’s leader has spoken openly about a housing crisis in the county, due to rising house prices and a lack of rental properties, and it’s hoped the new scheme will go some way towards combating the issue.

MyHaus are your local property experts for the Brighton, Hove. Call us on 01273 286788 or email info@myhausbrighton.co.uk to find out how we can help you buy a new home or sell your property.

If you’re considering becoming a landlord, there are many elements to consider before you purchase a property. The process of buying a buy-to-let property differs compared to buying a residential property that you will live in yourself. Of course, it’s a long-term investment that shouldn’t be made in haste, so if you’re reading this, you are probably looking for the right information.

Our team at MyHaus are experts in buy-to-let advice, so here is our straight forward guide to purchasing a buy-to-let property in Brighton & Hove.

What is Buy – to -Let?

First things first, the basics: buy-to-let is a property that is specifically purchased with the intention to rent it out to tenants. It’s an investment property that can generate a monthly income, as long as the rent being charged is higher than the monthly buy-to-let mortgage payments. 

A buy-to-let mortgage is different to a residential mortgage, and if you can’t afford to buy the property outright, you will need to apply for one. When applying for a standard mortgage, your income is taken into consideration, whereas with a buy-to-let loan, the lender considers the potential rental income as your primary income source, and considers your personal income as secondary. The interest rates tend to be lower, but they have larger upfront fees, so keep that in mind. Moreover, deposits on buy-to-let mortgages are also typically larger than the deposit needed for a standard mortgage, so expect to put down at least 25% more than you normally would. 

What kind of buy-to-let property should you buy?

The right property is important and can include factors such as the location in proximity to amenities and transport, as well as the neighbourhood and the demand in the area. Much like when you’re searching for your own place to live, you should ensure you research the area you want your buy-to-let property in. 

Consider what kind of tenant you want to target and include that in your research. If you’re trying to rent to families, your best bet is to find a property in the suburbs close to good schools. If you want to rent to students, a property near a university and good but cheap restaurants and nightlife is key. Keep in mind, the type of tenants you have renting from you can affect your mortgage, as many lenders have restrictions on student rentals, for example. 

Do you need buy-to-let insurance?

The short answer is yes; you should have buy-to-let insurance (also known as landlord insurance). It gives you coverage for the building and the contents inside and any landlord liabilities. 

Building insurance is often required by your mortgage lender in order to secure a loan and will compensate you if your property is destroyed or damaged. This will cover the repairs or rebuilding costs so you don’t have to pay huge expenses. 

Contents insurance will cover any furniture inside the property. It’s a smart idea to get contents insurance even if your buy-to-let property is unfurnished because you can choose what level of cover you require, and it can protect any curtains, carpets, and other furnishings. If you choose to rent your property unfurnished, your tenants will be responsible for their own contents insurance when they move in. 

Landlord liability is mostly your choice, but if you’re renting to students, for example, there may be a minimum level required. This covers you for any injuries or deaths of any tenants or visitors in your property. 

 Do you need to use a letting agent?

This answer is dependent on the budget you’re working with and the level of involvement you wish to have with your buy-to-let property. If you want to be a very hands-on landlord, you may not want to go through a letting agent. But, if you would rather take a more hands-off approach, it is a good idea to enlist the help of a professional, experienced lettings agency.  

Letting agents like us will carry out credit checks on your potential tenants, create a letting contract, chase late rental payments for you, help with any maintenance on site that needs to be done, and assist with mandatory safety and efficiency checks for gas and energy. 

The fees to work with a letting agent typically include paying an ongoing fee to manage the property which varies, so it’s always best to speak with your chosen letting agent to get a complete idea of costs.

Generally, utilising the services of a letting agent can take a big burden off your shoulders if you are a budding landlord!

For professional advice on purchasing a buy-to-let property in Brighton, contact our expert team at MyHaus on 01273 286788 or email info@myhausbrighton.co.uk.

We know the market in Brighton & Hove is fast paced and that taking your first step onto the property ladder can seem like a daunting prospect! Especially considering that a typical deposit is usually between 10% and 20% of a property’s value.

We often get asked by first-time buyers: “How do I get on the property ladder?” We always tell them that it is achievable with some patience and dedication to make it a reality.

If you are a first time buyer, our useful tips on how to get on the property ladder could help you make your dreams a reality sooner than you think!

Start Saving Early!

The sooner you start saving, the sooner you’ll be able to get your foot on the ladder. The earlier you start saving, the more it will become a habit, meaning you’re likely to save more!

To maintain consistent savings you can set up a direct debit to your savings account every month. Have a regular transfer of a specific amount each month on payday. That way, you won’t miss the money each month as you stash it away!

Stay With Your Parents if you can

It can be tempting to move out and be independent at the very first opportunity. Of course, that’s not a bad thing!

However, if you’re serious about owning your own property in Brighton or Hove, then forking out at least a few hundred pounds a month on rent is going to slow you down. Those monthly payments could instead add up to a substantial deposit over time.

So if you’re still living at home staying with Mum and Dad could help you buy your own place much quicker.

Speak to your mortgage advisor…

Speak to a Mortgage Advisor Before you View any Properties

When you’re in a position to put down a deposit, arrange meetings with a couple of mortgage advisors to find out exactly how much you can borrow.

Mortgage calculators on banking websites aren’t always an accurate indicator. Its much better to speak to a real person. It’s essential to know exactly what budget you have to work with so that you don’t view the perfect property, only to find that it’s out of your reach.

Save Your Money Wisely

Keeping your savings in the right place can make a big difference to the time it takes to achieve your deposit.

It’s best not to keep your savings in your current account. Not only will you gain little or no interest, but you’ll be far more likely to dip into them when you fancy a treat.

Instead, consider opening a Lifetime ISA. These accounts allow you to earn a 25% annual bonus from the government up to a maximum of £1000.

So for every £1000 you save, you’ll receive a £250 top up until you reach the maximum savings amount of £4000 per year.

Look into all Your Options

There are many different initiatives available to help first-time buyers get on the property ladder, and while some of them might not seem ideal solutions, they can help you get there more quickly.

Help to Buy is one example of a government-backed scheme that allows you to buy a property with just a 5% deposit, with the government lending you 20% interest free for five years.

Alternatively, you could look into shared ownership. This allows you to own a percentage of the property while paying rent on the other part.

Again, it’s worth speaking to a mortgage advisor first, who will go through all the options with you.

MyHaus are your local property experts for the Brighton & Hove area. We can also recommend mortgage experts to help you with your finances.

Call us on 01273 286788 or email info@myhausbrighton.co.uk to chat with a member of our friendly and experienced team.

Whether you’re a landlord through choice or an accidental landlord, you must think of it properly as a business. Keeping your costs low as much as possible and providing a decent and safe place that your tenant calls their home.

Of course, you want to keep costs low, but you also have to think about protecting your asset.

To help you, we’ve put together the top five ways landlords can reduce upkeep costs.

If you’re a landlord in the Brighton area, then get in touch! We also have more detailed help and advice we can offer you!

Get a professional Inventory

The best way to manage upkeep costs is to get it right first time. Have professional surveys done to see if there are any immediate issues. This will save on additional costs further down the line.

You should carry out an inventory of the property prior to a new tenant moving in. Not only will this give you indications of any issues that need attention, but you’ll know every detail of the house before a tenant moves in.

Top Tip: It is possible to do inventories yourself, and you’re probably very capable, but we would recommend using professionals to get the job done as it will save you time and money in the long run.

Get The Right Tenants – And Be The Right Landlord

Landlords often focus on securing the right tenants, and we understand why – you want your pace to be looked after, and you want to make sure the rent comes in on time and in full. Good tenants are likely to take care of the property and notify you if anything needs attending to. But here’s the thing – you need to be a good landlord too.

At MyHaus Brighton, we suggest that you should be an outstanding landlord by making sure you keep your property in good condition and attend to anything that needs fixing quickly. Not only do you maintain a good relationship with your tenant, but you make sure your investment is looked after.

Top Tip: Be contactable and be responsive. Show you care about the property and the people living in it.

Great Expectations

Set out your expectations from the start of a tenancy. Obviously, there are contractual matters, but when you’re speaking with the tenant, let them know what is expected of them regarding upkeep and when to let you, the landlord, know if something needs doing.

Top Tip: Make sure you and your tenant know what outcomes to expect should they contact you. If they call you about an issue, they need to know you’ll get the issue under control within a reasonable timeframe.

Be Quick, But Don’t Cut Corners

When you know you need a job doing, getting it done quickly will prevent issues (and costs) from escalating. Don’t be tempted to cut costs by getting a cheap solution just because you don’t want to pay. A cheap job may mean it isn’t completed correctly and will only need doing again later. You will probably save money initially by doing the job yourself, but it’s better to call in the professionals.

Top Tip: Keep a list of when you have needed to carry out repairs and the tradespeople who completed the jobs for you. Trusted contacts and suppliers are important.

Let Us Do It For You!

At MyHaus Brighton we pride ourselves in helping landlords manage and maintain their properties.

While some of our clients look after the properties themselves, we’re often trusted to fulfil that role with our property management service. It means we will keep on top of things for you, and act quickly when a fast response is needed. It also means that you can rest safe in the knowledge that your investment is in tip-top condition, and your asset is looked after.

Top Tip: If you choose a lettings agency to manage your property (and we’d love it to be us), make sure you know exactly what they are doing for their money.

As a landlord, keeping your upkeep costs low will take time and thought, and getting it right from the start is crucial.

We have years of experience in helping buy-to-let landlords and we can help you. Please get in touch. Email us at info@myhausbrighton.co.uk or call us on 01273 286788.

You trust your friends right? Well so do we! If you refer a friend to us, as a thank you for bigging us up and working with the MyHaus Brighton team we want to give you a little treat! Seeing as we have all got used to online shopping these days what better way to cross something off that wish list than with a FREE £50 Amazon Voucher.

How to Refer a Friend?

So you want to refer us to a Landlord, great news, thank you! Register your interest using our contact form HERE if you are not already a client of MyHaus. Then all is left is to tell your friends, family and colleagues and ask them to quote your name  and email address when registering for themselves.

If they sign with us we will send you a £50 Amazon Voucher to spend however you wish. What a win!

If you are thinking of letting your property there is a lot of research to be done! While you will of course be looking online and asking friends or relatives, it’s important you speak with the property experts. In Brighton and Hove that’s us and we would love to help you as you start your journey. Give us a call on 01273 286788 or email us at info@myhausbrighton.co.uk

* Please note this offer is specific to landlords that sign with us and use one of our services, not just an enquiry or a tenant moving into one of our properties. If you have any further questions please get in touch.

Is buy to let in Brighton and Hove a good investment? That’s a really good question, for so many different reasons.

Firstly, what makes a ‘good investment’?

What are the hallmarks of a ‘good investment’?

Secondly, is buy to let a ‘good investment for you’, personally speaking?

Just like the word ‘good’ is a concept for discussion, so is whether a good investment works for you. Thinking about it further, what does investment actually mean?

These are exactly the type of questions you should be asking yourself if you are thinking of becoming a buy to let investor in Brighton and Hove . They will help you shape your future if you do become a landlord of residential properties.

Here, we will look at what makes a good investment when it comes to property.

What does a good investment look like?

First ask yourself: What do you want a good investment to look like?

It might be that you have a little money in the bank, or you want to use some of your savings as a deposit for a buy-to-let mortgage. The rewards from a property investment will certainly outweigh leaving the money in a standard bank account. That’s great on the face of it, but what are you investing for? Do you want to get a return in terms of a good rental income, or are you thinking long term when the property you buy could be worth a lot more money giving you the option to sell and profit later on?

So, think about your reasons for investing and what you want to get out of it.

What does good actually mean?

What does ‘good’ mean when it comes to looking at a ‘good investment’ in property?

It might be that you’re looking at capital growth (your property rising in value) or it might be that ‘good’ means a good rental yield. This means that you get a solid return on your money through the rent you get back.

To calculate the yield, divide the annual rental amount by the property value and then times that by 100. This will give you the rental yield. A good yield varies depending on where the property is located, but you should be looking at around six percent or above. To decide whether your investment is good, make sure everything adds up. Your rental income must at least cover your costs.

Is the property right for a good investment?

To answer this question, you’ll need to consider whether the property is in the right area for it to do well when it comes to finding a good tenant.

• Is it likely to soak up some of your funds because it needs a lot of repairs and maintenance to bring it up to scratch?
• You may understand that it needs work, and you may have budgeted for it, but if you exceed your budget, will this still make it a good investment?

Try and keep your emotions out of it. Buying and renting property should be based on business decisions. Plan, and then plan some more.

Is it just a money investment?

There is more to buy to let than just investing money. Finances are imperative but it’s not the only factor you should be thinking about.

• Can you afford the time to be a landlord?
• Can you invest thinking space and dedicate hours to make sure you are on the right side of the law?
• Do you have the time to invest in doing any maintenance or repairs?

Being a buy to rent landlord is so much more than merely buying a property and waiting for the rent to arrive in your bank account.

Assess your priorities, as not having the time doesn’t mean you can’t invest in property. It might mean that you ask a lettings agent to find you a tenant and then manage the property on your behalf.

Buying and renting out a house could be a fantastic opportunity for you, but you must do your homework. While you will of course be looking online and asking friends or relatives, it’s important you speak with the property experts. In Brighton and Hove that’s us and we would love to help you as you start your journey. Give us a call on 01273 286788 or email us at info@myhausbrighton.co.uk

Buying a property and letting it out can be very rewarding. Not only do you receive a rental income, but the property itself should also increase in value over time.

The property you are renting out is an investment, but you must make sure that it is looked after and well maintained.

Of course, you may also be busy with a job and family, and while buying to let is a business, it may not always be the first priority in your life.

That’s why we have put together our 10 Tips for Buy-to-Let Success guide. These tips are based on our many years of experience of helping landlords run successful businesses.

If you would like help and advice on the rental market in Brighton, email us at info@myhausbrighton.co.uk or call 01273 286788.

1. Choose Your property Wisely

You may want to invest your money and start getting a return as quickly as possible, but first, you must do your homework and consider the type of property you want and what sort of tenant you need. You might be thinking about students, but what if there isn’t a market for students in the area?

Top tip Speak to the professionals. We know the Brighton market locally and can advise you accordingly.

2. Decide how Much Involvement You Want

Decide what sort of landlord you want to be. Will you be hands-on and do a lot of the maintenance work yourself, or do you want to get tradespeople in to do the work for you?

Top Tip If you’re relying on tradespeople, ask around and develop a list of trusted contacts to be used when required.

3. Will You Manage the Property?

There are quite a few things you need to do including getting gas and electric certificates, collecting rent, dealing with maintenance and other issues, even managing the process of eviction should it come to that.

So, are you able to do much of this management yourself, or do you need an experienced lettings manager to take the strain?

Top Tip We can help you find a tenant, sort the contracts and look after the management – if you want us to!

4. Understand the Potential Net Returns

You may have money in the bank to invest in property. You may also have the desire to be a landlord and are thinking of the potential returns. But, have you actually done the maths?

Sit down with a pen and paper and do some research into all the other costs, for example:

• Landlords Insurance
• Servicing and gas and electric safety certificates
• EPC certificate
• Costs of repairs and maintenance
• Tax
• Void Periods
• Tenant Acquisition
• Utility Bills
• Management Fees

This is to name but a few!

Top Tip Make sure you can afford it. This might sound silly, but if the returns aren’t as great as you think, and the additional costs rack up, you could be in for a surprise.

5. Be Aware that Property Prices can go Up and Down!

Property is a sound investment most of the time. We would definitely recommend being a buy-to-let landlord, particularly in Brighton, but you should be aware that property markets can go down as well as up.

Top Tip Be in it for the long run. Be patient as markets can fluctuate but a good landlord knows this and sticks with it.

6. Always get Insurance

We firmly advise that you need Landlords Insurance and Buildings Insurance and maybe even Contents Insurance too. It’s better to be safe than sorry and should anything untoward happen, you will know that you are covered.

Top Tip Speak with an experienced insurance broker. They will go through the level of cover you need and why.

7. Be Efficient and Keep Records of Everything

A buy-to-let property is best when it has a paying tenant of course. When it is empty, it costs you money. Landlords who can move quickly when they need to find a tenant are the ones who have successful businesses.

Top Tip Make sure your paperwork is organised and in order. Keep a list of preferred suppliers including plumbers and electricians so that any work can be done quickly.

8. Choose the Right Lettings Agent

A good lettings agent will advise you on which area to look at when acquiring a property, and will know the sorts of rent you could expect to get. They’ll be able to recommend tradespeople, and be able to sort the contracts out. It’s worth doing your research and getting the right team in place.

Top Tip Seek recommendations from other landlords who have used an agent in your area.

9. Don’t Fall in Love with the Property

This is an interesting one. There’s a difference between liking a property and loving it. If you love it, you may well not see it as a business and it is a business that has to make money.

Top Tip You won’t be living in the property, but you can put your stamp on it in some way, perhaps the garden design for example.

10. Plan for the Future

While you have a property to rent out, ask yourself what your future plans look like:

• What’s your long-term goal for the property?
• Do you know whether you want to sell it eventually?
• Do you want to keep it and live in it at some point?

Top Tip Set your goals right at the start. That way, you will know what to do and when to make the right decisions.

We have years of experience in helping buy-to-let landlords and we can help you. Please get in touch. Email us at info@myhausbrighton.co.uk or call us on 01273 286788.