HSBC Home Loans Review | Savings.com.au


HSBC has used its unique expertise, capabilities, breadth and perspectives to open up a “world of opportunity” to its clients since 1865.

Founded in 1865, The HSBC Group hopes to bring together people, ideas and capital to help create a better world for its customers, employees, investors, communities and “the planet we all share”.

HSBC moved to Australia in 1965, developing its products locally to meet the needs of Australian consumers. As one of the world’s largest banking and financial services organizations, HSBC also spans the world in more than 64 countries and territories.

“Today, (HSBC) offers market-leading fixed and variable rate home loans at 38 partner branches and brokerage firms,” an HSBC spokesperson told Savings.com.au.

HSBC mortgage products

HSBC offers “the full range of home loans”, with “market leading and competitive” variable rate home loans, plans with 100% cleared accounts, free drawing facilities and more notable features.

For example, his Home Value variable rate home loan has a low variable rate of 1.97% per annum (1.98% comparison rate), with free additional payments and no ongoing monthly service charges.

The bank also offers home equity loans with the ability to use the equity in your home; fixed rates that you can lock in for up to five years; and a mortgage line without interest and without fixed term.

Here’s an overview of HSBC home loans for homeowners and investors:

Basic criteria: a loan amount of $ 400,000, variable, fixed, principal and interest (P&I) mortgage loans with an LVR (loan-to-value) ratio of at least 80%. However, the table “Compare mortgages” allows calculations to be performed on variables selected and entered by the user. All products will list the LVR with the product and price which is clearly posted on the product supplier’s website. Monthly repayments, once the basic criteria are changed by the user, will be based on the advertised rates of the selected products and determined by the loan amount, type of repayment, loan term and LVR entered by the user. /you. * The comparison rate is based on a loan of $ 150,000 over 25 years. Please note that the compare rate only applies to the examples given. Prices correct as of December 2, 2021. See disclaimer.

Compare HSBC Home Loans to Other Low Rate Home Ownership Loans

Lender

Rate type Gap Redraw Ongoing charges The initial costs LVR Lump sum reimbursement Additional refunds Pre-approval

Variable More details
LIMITED TIME OFFER

Smart Booster real estate loan at variable discount rate – 2 years (LVR
  • Fast turnaround times, can meet a 30 day settlement
  • For purchase and refinancing, minimum deposit of 20%
  • No ongoing or monthly fees, add compensation for 0.10%

Variable More details
100% FULL ACCOUNTNO APPLICATION FEES OR CURRENT FEES

Low rate home loan – Premium (principal and interest) (owner occupied) (LVR
  • No upfront or ongoing fees
  • 100% clearing account
  • Additional refunds + reprint services

Fixed More details
LOCKING RATES FOR 90 DAYS

1-year fixed real estate loan (capital and interest) (LVR
  • Simple digital application process
  • Market-leading app to help you pay off your loan sooner
  • No ongoing charges

Variable More details
REFINANCING IN MINUTES, NOT WEEKS

Nano Home Loans Variable Owner Busy, Principal and Interest (Refinancing Only)

  • Refinancing only. Fast online application
  • No Nano fees. 100% free sub-account clearing
  • Mobile app, Visa debit card and instant payments

HSBC Home Loan Features: Flexible Mortgages With Benefits

HSBC offers a number of key features with its mortgage products.

It currently offers a cashback of $ 3,288 for external refinancing until the end of 2021 (eligible for requests between February 15 and December 31, 2021 and settled before February 28, 2022, conditions apply).

The bank also offers unlimited additional repayments on certain home loans, unlimited repayments, and no ongoing monthly fees on its Home Value home loan.

Flexibility is essential because you can schedule your repayments according to your income schedule; whether weekly, fortnightly or monthly. Standard variable rate loans come with a 100% netting account.

From additional repayments to its offset accounts, HSBC customers have many ways to save on interest charges and pay off their loan faster.

Some HSBC loans allow you to split a fixed and variable interest rate, “giving you the best of both worlds.”

Additionally, HSBC’s home loan package offers reduced rates and exemption fees – this is only available for certain products.

“Premier eligible customers can access a dedicated relationship manager as well as Premier benefits around the world,” said an HSBC spokesperson.

“Award-winning bank and market leader”

When asked why someone should choose HSBC over another bank, HSBC cited its market-leading products and international expertise.

The bank’s award-winning Everyday Global transaction account, credit cards, deposits and personal loans are among its market-leading products; not to mention his low rate mortgages.

In addition, given that HSBC has a global presence, it claims to use its expertise, capabilities, scope and “unique” perspectives to “open up a world of opportunity for its clients”.

How to apply for an HSBC home loan

You must meet the loan conditions before applying for a mortgage with HSBC. As a general rule, you should be:

Depending on the loan, you might also need a clean credit history.

You can apply for a mortgage on the HSBC website. You can also speak to a mortgage expert at 1300 694 722 or visit a branch.

Necessary documents

You will usually need to provide the following documents:

  • Personal identity document such as your driver’s license, passport or health insurance card

  • Pay slips and supporting documents from other sources of income

  • Asset and liability documents

  • Proof of savings, term deposits, managed funds, etc.


Image by Jose G Ortega Castro on Unsplash

The entire market was not taken into account in the selection of the above products. On the contrary, a small part of the market has been envisaged. Products from some vendors may not be available in all states. To be considered, the product and the price must be clearly published on the website of the supplier of the product. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au and Performance Drive are part of the Savings Media group. In the interest of full disclosure, the Savings Media Group is associated with the Firstmac Group. To learn more about how Savings Media Group handles potential conflicts of interest, as well as how we are paid, please click on the links on the website.

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