Australia’s lending landscape is fast becoming a minefield of mortgage products, as the big banks and remaining handful of second tier lenders do battle for your business in the wake of a property market upswing. Borrowers are currently in an excellent position, with low rates on offer everywhere you turn and eager mortgage managers keen to negotiate if it means retaining your custom. But how do you know when you’re getting a good deal, as opposed to an average one? How do you compare apples and oranges with apples and apples and is it enough to do your own homework these days?

For the first time in 17 years, the banking sector, investment markets, super funds and the financial advisor’s industry have come under scrutiny, with a close examination headed by former CBA chief and current head of the Future Fund, David Murray

Unfortunately, a lot of property investors fall short when it comes to planning and in turn, end up purchasing property based, not on careful analysis of their personal position, but advice from a friend or family member, ill begotten financial planning (where they’ve been peddled a product instead of receiving impartial guidance) and overall market sentiment – i.e. because everyone else is doing it. However if you follow these 6 fundamental steps, ensuring the timing of your purchase comes down to careful consideration of where you are now and where you want to be in the future, you’ll be less inclined to react to market changes and more likely to be a pro-active property investor. And it’s this distinction that sorts the ‘dabblers’ from the wealthy success stories.

Interest rates have been a hot topic this year. Of course they’re always on the agenda of finance media commentary, given their use as a litmus test for the overall economic viability of our nation at any given time. But across these markedly different last 15 months, where the Reserve Bank has sat politely on an all time low 2.50% cash rate, you virtually trip over a new opinion piece about what’s happening and where rates are heading every time you open your email (I say ironically) or read a newspaper (they still exist I’m told).