HSBC home loans

HSBC
HSBC's overall rating for home loans

(as rated by the Mozo community)

7.1 / 10

based on 32 reviews

With over 48 million customers across 72 countries, HSBC Bank is one of the world’s largest banking and financial services organisations. Having launched in Australia in 1965, HSBC now has a network of 37 branches and offices which provide a competitive range of fixed and variable home loans to Australian property hopefuls.

Whether you’re an owner occupier or property investor, you’ll be impressed by HSBC’s home loan offerings which earned a Mozo Experts Choice Home Loan Award 2016 for both Best Value First Home Loan and Best Value Variable Home Loan.

Rates and fees verified as correct at 02 December, 2016. Other information correct at the time of writing.

What home loans do HSBC offer?

Fixed Rate Home Loans Fixed Rate Home Loans

If you want repayment certainty, HSBC’s fixed home loan is available from $50,000 and offers an extensive range of fixed terms starting from a period of 1 year up to 5 years. There is no monthly service fee and you can borrow up to 90% of your property’s value. You’ll also have plenty of freedom in terms of repayment options with an extra repayment facility (up to $10,000 p.a.), interest in advance payment option for investors and the choice to split your loan between a fixed and variable rate. When you choose a fixed home loan, you may also be eligible for HSBC’s Premier option however you’ll be charged a monthly service fee.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.79% p.a.

5.37% p.a.

$0.00

$853

3.99% p.a.

4.96% p.a.

$0.00

$853


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Variable Rate Home Loans Variable Rate Home Loans

Whether you’re looking for a basic home loan or one with all the bells and whistles, a variable home loan from HSBC may be a great option for you. HSBC’s variable home loans are available from $50,000 and allow you to borrow up to 90% of your property’s value. There is an extra repayment facility if you want to reduce the term of your loan and you can redraw funds whenever you need to (fees may apply). If you choose a full featured variable home loan such as HSBC’s Home Smart Loan, you’ll get even more flexible features including an offset account, interest only payment option (up to three years) and unlimited free withdrawals via ATM, EFTPOS, BPAY, phone and internet banking.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

5.50% p.a.

5.56% p.a.

$0.00

$853

5.23% p.a.

5.29% p.a.

$0.00

$853

4.89% p.a.

4.95% p.a.

$0.00

$853

3.55% p.a.

3.57% p.a.

$0.00

$253

5.50% p.a.

5.56% p.a.

$0.00

$853

5.23% p.a.

5.29% p.a.

$0.00

$853


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Fixed Package Home Loan Fixed Package Home Loan

If you’re looking to borrow $500,000 or more, check out the HSBC fixed rate Premier Home Loan Package. There are some fees to consider, including a monthly service fee, settlement fee, valuation and application fees. But in return, you get discounted rates on owner occupied or investment fixed rate home loans ranging from three to five years. To help you pay off your loan when it suits you, HSBC offer the option to make extra repayments up to $10,000 p.a. and can choose to make monthly, fortnightly or weekly payments. You also have the option to split your home loan between fixed and variable rates.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.69% p.a.

5.18% p.a.

$35.00 monthly

$553

3.89% p.a.

4.77% p.a.

$35.00 monthly

$553


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Variable Package Home Loan Variable Package Home Loan

There are two home loan package options with variable interest rates from HSBC: the Premier Home Loan Package and the Premier Smart Home Loan Package. With either package you’ll get the ability to make unlimited extra repayments, the use of an offset account and a free withdraw facility, although for the Premier Home Loan there is a minimum redraw of $500. You’ll pay no upfront fees, but there is an ongoing monthly fee to consider. The Smart Home Loan package must be paid monthly, but the Premier Package allows you to choose between weekly, fortnightly and monthly payment options.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.75% p.a.

5.19% p.a.

$35.00 monthly

$553

3.69% p.a.

4.16% p.a.

$35.00 monthly

$553

4.75% p.a.

5.19% p.a.

$35.00 monthly

$553

3.69% p.a.

4.16% p.a.

$35.00 monthly

$553


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Line of Credit Line of Credit

Line of Credit

From the active investor to the home renovator, HSBC’s Home Equity Loan is a line of credit which is available on loans starting from $20,000 up to $1,000,0000. HSBC’s line of credit loan allows you to borrow up to 90% of your property’s value, and like other line of credit loans, there is no set loan term and minimum repayments are interest only. You’ll also have great access to take out funds whenever you need them with unlimited free withdrawals in Australia.

Product Rate Comparison Rate* Service fee Upfront fee

5.58% p.a.

n/a

$0.00

$853

5.31% p.a.

n/a

$0.00

$853

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HSBC home loan features in a glance

No monthly feeNo monthly fee

Saving money on your home loan is easy when you don’t have to pay any monthly account maintenance fees on HSBC’s fixed, variable or line of credit home loans (not applicable for Premier customers).

Offset accountOffset account

HSBC’s full featured variable loans have a handy offset account to help reduce your interest payments over the term of your loan.

Premier optionsPremier options

HSBC’s fixed, variable and line of credit home loans have a premier option for eligible customers. These options have exclusive benefits including discounted interest rates and home loan fees (i.e. application, variation) but there is a monthly service fee to consider.

Personal relationship managerPersonal relationship manager

Getting a home loan can be a little tricky so when you sign up for HSBC’s Home Value Loan, you’ll be given your own personal relationship manager to guide you through the entire process whether you’re buying, moving or refinancing.

How are HSBC home loans rated?

It’s hard to know what you’re really getting when you first sign up for a home loan. So it’s a good idea to check out our review portal where we’ve asked real HSBC customers to rate their home loans on everything from price and features to customer service and convenience.

HSBC home loans

Overall 7.1*

Price

Features

Customer service

Convenience

Trust

32 Reviews

* Overall rating based on reviews in the past 12 months.

Recent HSBC home loan reviews Recent HSBC home loan reviews

HSBC

HSBC Variable Home Loan (Owner Occupier) (Premier) home loan review

Overall rating   7 / 10

Great bank

Good service

Full review

Good service

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Priya (VIC), reviewed 7 months ago

HSBC

HSBC Home Smart Loan (Owner Occupier) home loan review

Overall rating   7 / 10

Excellent customer service

They are bank, like all others. Only one branch in Adelaide.

Full review

They are bank, like all others. Only one branch in Adelaide.

    Price   7 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   5 / 10

    Trust   7 / 10

Less

Greg (SA), reviewed 8 months ago

HSBC

HSBC Home Value Loan (Owner Occupier) home loan review

Overall rating   10 / 10

Awesome

Very helpful with everything

Full review

Very helpful with everything

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

Less

Helen (NSW), reviewed 8 months ago

HSBC

HSBC Variable Home Loan (Owner Occupier) home loan review

Overall rating   8 / 10

Competitive fees

Although there are not many branches, I like you can withdraw at the post office and use many ATM's at no charge. Service is brilliant and friendly. I hate that I am charged when I phone in to discuss something though, very disappointing, I pay...

Full review

Although there are not many branches, I like you can withdraw at the post office and use many ATM's at no charge. Service is brilliant and friendly. I hate that I am charged when I phone in to discuss something though, very disappointing, I pay enough in fees, this should be free.

    Price   8 / 10

    Features   6 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   9 / 10

Less

Nikki (SA), reviewed 9 months ago

HSBC

HSBC Variable Home Loan (Owner Occupier) home loan review

Overall rating   8 / 10

Great home loan rates

Great rates and efficient staff. Rates for insurance were very competitive the first year but not when it came around to renewal.

Full review

Great rates and efficient staff. Rates for insurance were very competitive the first year but not when it came around to renewal.

    Price   8 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   6 / 10

    Trust   9 / 10

Less

Talei (NSW), reviewed 10 months ago

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Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

What do you need to apply for a HSBC home loan? What do you need to apply for a HSBC home loan?

To apply for a HSBC home loan, you’ll generally need to have the following details and documents handy:

  • Residential details including completed HSBC 100 Point Identification, passport, driver’s licence, rate notice, utility bill etc.
  • Employment details i.e. name of organisation, address and contact details
  • Income details including latest payslips, Group Certificate and bank statements. If you are receiving additional income such as rent, you may need to provide supporting documentation (e.g. copy of rental contract and bank statements).

Depending on your situation at the time of application, you may also need to provide some of these documents:

  • Records of your investment, shares etc.
  • Statements of existing loans
  • Life insurance and superannuation statements
  • Contract of Sale (for purchase of property)
  • Receipt of deposit paid (for purchase of property)
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