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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

  With the selling season almost here, now is the time for those thinking of selling their property to start turning their plans into actions. But with many other property owners also going to market, it is important for sellers to know what to do to stand out from the crowd and improve their chances of selling. Deciding between selling your property by private treaty or auction depends on the market and buyer behaviour. When market demand is high and property buyers are quite competitive, having an auction is more likely to provide the best possible price for the property. However, if you are selling in a busy market, there is little point in opting for an auction. If you’re able to put your property on the market and be guaranteed to receive an offer within a week, there is no point going through a four-week auction campaign. Working out how much you should do up your property should also be a key consideration for property sellers. If your property doesn't look 100 per cent, you