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Granny flats are a bit different because it's considered 2 dwellings on one title which is not the best security but acceptable for most. It's when your property is set up like an accommodation business that it becomes a big issue, hence the 'specialised security'.

Yes the issue is because the smart-*** valuer will say 'oh this property can be used for student accommodation' or words to that effect. Guess what? Credit assessor reads that comment in the report, now your property is a 'specialised security' and your finance is stuffed. If you must do the...