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I'd suggest there's a huge difference. A wrapper would typically charge perhaps 2% above the bank rate, and/or may have a margin on the property price- perhaps 10%. A short term wrapper would probably have a lower interest rate and a higher property price margin, but probably within those...

There have been two slightly different approaches to wraps in Australia (as far as I know). Steve McKnight's approach appears to be to target lower priced properties- perhaps in rural centres- where it's perhaps easier to find properties which battlers can buy for less than they're paying in...