granny flat add value?

[Garry Mac]

Totally agree with Rolf and Propertyunity - have a look at other lenders OR (even better) speak to a good Broker. The most important issue regarding granny flats (just like any form of investment) is to do your homework AND there are many issues to consider. It's a great strategy provided you have the right people in place to get the job done.

Cheers
Garry

 

[Aaron_C]

My ANZ manager said that the LVR will have to come down to 70% if I'm going to build a granny flat!
That means for example:
80% of a 600K single dwelling = 480K loan
70% of a 700K same above house + granny = 490K!
That means the bank can give only 10k!
Something is not right

That's bullsh*t. There's plenty of other lenders who provide high leverage even for 2 dwellings on a lot.