HSBC Home Loans
Posted March 31st, 2010
and last modified March 21st, 2012HSBC may be the world’s bank but that doesn’t mean they are too big to understand your home loan needs, as they have been operating in Australia since 1965. As a result, HSBC offers an inclusive and rewarding range of home loan products to make repaying your mortgage as affordable as possible, and rewarding you for your continued loyalty to your local bank.
HSBC home loan products look a lot like any other mortgage as the bank offers the standard range of home loan types. However, with its strength, size and history, HSBC is able to add in exclusive features and discounts not all providers can match. For example, they include:
- The Home Value basic variable home loan. From HSBC the basic variable home loan includes not only a very low interest rate which keeps you in line with the current economic conditions, but also allows you to make unlimited, free additional repayments to your loan principal. If you do find you need to redraw some of those additional repayments in an emergency you can, but you will be charged a fee to discourage you from undoing your good work.
- The Home Rewards standard variable home loan. When you first open a standard variable home loan with HSBC you will be charged the standard variable rate, at the end of the first year of holding your home loan the rate is reduced by 0.25% and at the end of the second year your discount increases to 0.50%, after which, your rate remains 0.75% below the standard variable rate for the remaining loan term. The HSBC standard variable loan does not charge any monthly fees and allows for redraw and additional repayments. The Home Rewards loan can also be used by low doc borrowers, for construction and as bridging finance.
- Fixed rate home loan. The HSBC fixed rate home loan gives you security against rising interest rates and can help you save even more by allowing additional repayments of up to $10,000 per year. You can also use the fixed rate loan as a low doc borrower, and can add an HSBC package if you are looking for more functionality.
- Market linked loan. As the world’s bank HSBC can offer completive deals on international financial products and their Market Linked Loan allows expatriates or investors who are earning an income in Hong Kong or the US to purchase an investment property in Australia. The maximum LVR allowed is but you are able to match your repayments to your income.
- Home equity line of credit. You can borrow against the equity in your home up to an LVR of and depending on how much equity you have available, and whether you want it for renovations, investments, a holiday or bill paying you can operate your HSBC line of credit loan as an all in one loan, with varying transaction inclusions.
Benefits of a Home Loan with HSBC
You can apply for most HSBC home loans as an individual, an owner occupier, for investment purposes or as a company or trust so you can easily compare your options with HSBC no matter what your needs. You can also add the Power Vantage package to most HSBC home loans, which includes:
- A 50% discount on loan establishment fees.
- An ongoing discounted interest rate on a fixed or variable rate.
- Discounted personal loan products.
| Minimum Loan Amount | $500,000 | |
|---|---|---|
| Maximum LVR | 90% | |
| Maximum Insured LVR | 90% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | No | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 6.19% | |
| Comparison Rate | 6.67% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | No |
| Application Fee | $300 | |
|---|---|---|
| Legal Fee | $0 | |
| Valuation Fee | $102 | |
| Service Fee | $35 | |
| Settlement Fee | $150 | |
| Exit Fee | $300 |
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
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