New season, new rate: HSBC makes a modest cut to its Home Value Loan

Hsbc new rate content

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!

HSBC Discounted Home Value Loan
  • Low 3.17% variable rate (3.19% comparison rate*)

  • No upfront or ongoing fees

  • Borrow with a 10% deposit

If you’re a first home buyer, then the HSBC Home Value Loan could be just the thing to get your property journey off to a smashing start. This budget-friendly loan features a low 3.17% variable rate (3.19 comparison rate*) and no upfront or ongoing fees, so borrowers will be able to put every dollar towards their mortgage. You’ll also be able to make as many extra repayments as you’d like with no penalty or redraw them (free online) if you ever need the money back in your pocket. And like we said before, this home loan is a multiple Mozo Experts Choice Award winner^!

*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 the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. 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 loans Awards

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