EDIT: I am sure that the solution will be to use an inverting shmitt trigger (as decribed in wikipedia) but with some feedback on the -ve pin. Am i in the right direction?
"Low gain Schmitt trigger": That's an oxymoron. Schmitt triggers have infinite gain at the trigger point.
I think this is one of those cases where you REALLY need to tell us what you are trying to do. Give us the big picture.
If you want high bandwidth (fast comparator response) then use a comparator IC not an op amp. Comparators have high open loop gain and there is no gain-bandwidth limitation.
A comparator does not have a frequency compensation capacitor (it reduces the high frequency gain of an opamp so it does not oscillate when negative feedback is applied). Then a comparator switches its output much faster than an opamp.
Because a comparator does not have a frequency compensation capacitor then it must NEVER have negative feedback like yours has.