6/02/2014 9:21:47 AM
-Current loan of $555,000 with ANZ.
-Current property recently valued at $890,000 with ANZ valuer. Owner occupied house.
-Client seeking to build a detached granny flat increasing current loan by $120,000 to $675,000.
-LVR increases from 63% to 76%.
-Expected rent of $350+ per week for granny flat (will more than cover the loan increase).
-Servicing and credit history fine.
-ANZ is advising that credit policy states maximum LVR of 70% for 2 dwellings on on title.
Can anyone recommend a different lender?
Signed, new broker entering the profession.
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