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.
Want a closer look at the HSBC Home Value Loan? You got it!