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Cheaper rates for big deposits as banks 'price for risk'

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Bank profits haven't been smashing any records lately, partly because the home-loan market is growing at its weakest pace on record.

While this soft market is bad news for bank shareholders, however, it's more positive for home-loan customers, because the sluggish growth is pushing lenders to compete aggressively on price. That is especially the case for those who have paid down a decent chunk of their mortgage, or have saved a larger deposit.

Several banks are offering cheaper interest rates for loans with an LVR below 70 per cent.Credit:Dion Georgopoulos

A little-known but potentially important change of recent times has been a trend towards cheaper loans for people who have more equity in their property.

Increasingly, some of the country's biggest banks are offering deeper discounts on mortgage rates for people who have a........

© The Age