Borrowing extra

I guess by now I should know this but, if you are buying PPOR (10% deposit & borrowing the rest), will the banks generally lend extra for renos based on the anticipated value after the reno?


Cheers
Stella
 
Yes and no

If its a fixed price contract then they will lend for the renos, if its owner buld then you will have to fund itself and then look at trying to recover ur costs with an equity loan

ta
rolf
 
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