New season, new rate: HSBC makes a modest cut to its Home Value Loan
HSBC has today slashed the rate on its Home Value Loan by 10 basis points, bringing its new variable rate to a low 3.17% (3.19% comparison rate*) for borrowers who plan to make principal and interest repayments and are looking to borrow up to 90% of the property’s value.
“With spring property season well and truly here, it makes sense for lenders to subtly start decreasing rates across their variable rate products,” said Mozo Banking Expert, Peter Marshall.
“And with another RBA rate cut expected around the corner, it’s likely that other lenders will be trimming rates.”
The HSBC Home Value Loan is no stranger to being in the spotlight though, as at the start of the year it received a 2019 Mozo Experts Choice Award^ in three separate categories - Low Cost Loan, First Home Buyer Loan and Split Loan.
“HSBC performed very well in this year’s awards, as it delivered exceptional value given the number of features,” explained Marshall.
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Want to find out how the HSBC Home Value Loan stacks up against others in the market? Then head on over to our home loan comparison tool, which currently compares over 500 home loans from more than 80 lenders!
^ More information about our Mozo Experts Choice Awards
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
^See information about the Mozo Experts Choice Home Loan Awards
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