Rental Income From Granny Flat PPOR

Hi

Just wondering if anyone knew if the rental income at my PPOR if it had a granny flat on the property while I lived in the main residence (or vice versa) could be used as income for servicing an investment loan. Just wondering as I have been told different answers in the past and today had a bank manager tell me that the income could not be used.

 

There are a couple of lenders who would use it once it is in your tax returns. There's at least one who would consider it with a lease and three months transaction statements.

 

Thanks for that, are these major lenders, I've been told in the past if you use not so recognised lenders that this could adversely effect (affect?) your ability to obtain credit.

 

The rental income, with majors, can be considered on the granny with your ppor as long as there is evidence that it is being rented
* rental statement confirming income
* rental agreement showing income to commence
* tax return which will need the rental statement confirming the income is current
* some will take rental appraisal

Thanks

 

A major lender I work with primarily will also take income into consideration even if this income was from a flatmate on your ppor as long as you can substantiate the income as not above, excluding the rental appraisal....income has to be in place.

 

Should be able to use it providing there's a lease agreement or rental statement from a managing agent available.

Cheers

Jamie