HSBC Home Value Loan

Features

The HSBC Home Value Loan offers you a competitive variable interest rate by offering you an ongoing discount, however this rate may vary between promotions so it is worth keeping an eye on it for when it goes on special.

While there is no 100 percent offset facility you can reduce the term of your loan and save interest by making additional repayments throughout the life of the loan. If you need to, you can access any additional repayments made through the redraw facility, which is unlimited if you use internet banking.

The HSBC Home Value Loan lets you tailor your repayments in either weekly, fortnightly or monthly instalments. If you do opt for monthly repayments this loan gives the option of paying interest only for five years.

This loan offers you a portability feature, which means you can transfer your loan over to a new property if you move. It’s a nice touch which can save you fees in the long run.

If you’re looking for predictability in your repayments, the HSBC Home Value Loan gives you the best of both worlds by allowing you to split your loan between a fixed and variable interest rate.

The HSBC Home Value Loan will let you borrow up to 90 percent of the purchase price, however lenders mortgage insurance may apply.

Another feature worth mentioning is the personal Relationship Manager you’re assigned when you apply for the HSBC Home Value Loan. This person will take you all the way from application to settlement which is a nice extra for anyone looking for a little extra support.

Who is the HSBC Home Value Loan good for?

The low variable interest rate makes this loan appealing to a range of borrowers although some people might be put off by the high establishment fees.

Review - What RateCity says

This biggest drawcard of the HSBC Home Value Loan is the low variable interest rate. While the establishment fees of this loan are high, there are some nice features which can help you pay off your loan faster.

The portability feature, for example, can save you the hassle of refinancing when you move to your next house.

Features aside, the fact that there is no 100 percent offset facility can end up adding costing you over the lifetime of the loan. It’s also worth noting that this loan only gives you the option of splitting once which can be a deterrent if you like the certainty that splitting your loan can give you.

HSBC Home Value Loan Options

The HSBC Home Value Loan has a low variable interest rate and a range of flexible features to suit both owner-occupiers and investors. Click here to find a loan that suits.

Pros
  • Low variable interest rate.
  • Portable.
  • Extensive customer support.
Cons
  • High upfront fees.
  • No 100 percent offset facility.
  • Can only split the loan once.
Eligibility

Provide proof of income and expenditure.

Provide a list of assets and liability.

Must meet serviceability criteria.

About HSBC

HSBC is one of the world's largest banks and offers a very broad range of financial products to suit all borrowers and bank accounts. HSBC has branches in most capital cities and a wide network of ATM’s, along with 24/7 internet access and a comprehensive call centre.

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