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  With the competition for business among banks and mortgage brokers heating up, lenders are now offering special deals to attract borrowers with reliable repayment histories. The approach aligns with the regulatory pressure facing lenders to tighten borrowing criteria for investment property buyers. The criteria involves raising rates and increasing loan to value ratios (the size of a loan compared with the value of a property). The range between the highest and lowest standard variable rate has increased from 3.97 per cent to 5.99 per cent. One a one-year fixed rate, the range widened to 2.35 per cent, and for four to five year fixed rates, the range widened by 1.8 per cent. These rates were within a much narrower range only 18 months ago. The better rates mean that a borrower with a $1 million, 25-year variable rate mortgage could switch from 5.13 per cent to 4.09 per cent, which is a difference of around $588 a month. Borrowers should consider asking what deals are on offer before