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HSBC Home Equity Loan (Home Loan Package)

Advertiser disclosure

The details shown below are for an owner occupier taking out a no set repayments loan between $50,000 and $1,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a no set repayments loan between $50,000 and $1,000,000 with an LVR below 90%

The details shown below are for an investor taking out a no set repayments loan between $50,000 and $1,000,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (No set repayments)

    LVR < 80%

    Loan: $50,000 $1,000,000

  • Owner Occupier (No set repayments)

    LVR 80%-90%

    Loan: $50,000 $1,000,000

  • Investor (No set repayments)

    LVR < 80%

    Loan: $50,000 $1,000,000

Rate
3.37% p.a.
Comparison Rate
n/a
Service fee
$390.00 yearly
Upfront fee
$150
Rate
3.52% p.a.
Comparison Rate
n/a
Service fee
$390.00 yearly
Upfront fee
$150
Rate
3.78% p.a.
Comparison Rate
n/a
Service fee
$390.00 yearly
Upfront fee
$150

Mozo editorial review HSBC Home Equity Loan (Home Loan Package) - last updated: 25 November 2020

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What's hot
  • 3.59% low variable rate
  • No application fee
  • Available to borrowers looking for a line of credit with 20% equity
What's not
  • $35 monthly service fee
Mozo snapshot

The Home Equity loan (with Home Loan Package) from HSBC has a low rate of 3.59% with no application or upfront fees and unlimited free monthly withdrawals from their line of credit facility. This loan could be your match if you’re an owner occupier looking to unlock the equity in your home and borrow a large amount of money with flexible repayment options.

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Key features

With the HSBC Home Equity Loan, borrowers can set up a line of credit facility starting from just $50k, however it is only available if you’re an owner occupier with an LVR up to 80% (or at least 20% equity in your home). When it comes to fees all you’ll pay is the $150 settlement fee upfront, but there is a monthly service fee of $35, as well as a $300 discharge fee. 

You can borrow up to $1,000,000 and there are no set repayments which gives you the flexibility to make loan repayments at any time. The HSBC Home Equity Loan (with Home Loan Package) also comes with unlimited free monthly withdrawals, which may be made via a range of options including ATM, EFTPOS, BPAY, phone/internet banking and Bank@Post. You’ll also have the option to split your loan between variable and fixed.

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Who is it good for

This loan is good for owner occupiers looking to access the equity that they’ve built up in their home and with the flexibility of no set terms to repay their mortgage.

 

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Any catches

With no set repayment requirements, you could end up paying a hefty amount of interest down the track, so it’s important to eventually pay back your debt by setting up a direct debit to coincide with payday. 

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.37% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$150.00

n/a

$390.00 yearly

$300.00

Other financial bits

$50,000

$1,000,000

none

80.00%

Features

Owner Occupier

No set repayments

No set repayments

n/a

no

n/a

none

yes

no

none

Unlimited free withdrawals per month. Transact on the loan via ATM, EFTPOS, BPAY, phone / internet banking and Bank@Post.

none

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.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.52% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$150.00

n/a

$390.00 yearly

$300.00

Other financial bits

$50,000

$1,000,000

80.00%

90.00%

Features

Owner Occupier

No set repayments

No set repayments

n/a

no

n/a

none

yes

no

none

Unlimited free withdrawals per month. Transact on the loan via ATM, EFTPOS, BPAY, phone / internet banking and Bank@Post.

none

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.

Details

Rates and fees information correct as at 28 July 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.78% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$150.00

n/a

$390.00 yearly

$300.00

Other financial bits

$50,000

$1,000,000

none

80.00%

Features

Investor

No set repayments

No set repayments

n/a

no

n/a

none

yes

no

none

Unlimited free withdrawals per month. Transact on the loan via ATM, EFTPOS, BPAY, phone / internet banking and Bank@Post.

none

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.

Customer Reviews

How are HSBC home loans rated by the Mozo community?

Overall
6.8/10
Price
6.7/10
Features
6.4/10
Customer service
6.8/10
Convenience
6.2/10
Trust
7.0/10
Based on 128 HSBC home loan reviews

About HSBC

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.