Australian lenders all have an ‘edge of cliff’ mortgage interest rate. Here’s how to push them to it and get a better deal

While asking a bank for a better rate is still a good first step, mortgage holders will probably need to be more strategic to secure a reduced rate. Photograph: AAP

After three consecutive interest rate hikes, mortgage holders are being squeezed.

If you are seeking a better interest rate, it’s time to push your lender to reveal their “edge of cliff” price to keep you as a customer.