HSBC Home Loans

Read on to compare some of HSBC’s key home loan interest rates and the key features they have.

HSBC is a British multinational bank and is one of the largest banks in the world. HSBC has around 4,000 offices in 67 countries and serves more than 40 million customers globally.

HSBC started operations in Australia in 1965 and gained its banking license in 1986. HSBC offers a wide variety of financial products and services including mortgages, personal loans, savings accounts and credit cards.

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Compare HSBC Mortgage Rates

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given Rates correct as of . View disclaimer.

What home loans does HSBC offer?

HSBC offers mortgages available for lots of different types of home buyers, including people looking to buy their first home, refinancers and investors. 

HSBC mortgage interest rates

HSBC offers a variety of fixed-rate, variable-rate, principal and interest, and interest-only home loans. Some of these include: 

  • Home Value Loan: A competitive, variable-rate home loan with unlimited free extra repayments and no ongoing monthly service fee.
  • Premier Variable Rate Loan: A home loan that’s available as a construction loan or for bridging finance. It also comes with a dedicated relationship manager. 
  • Home Smart Loan: A home loan that offers the ability to use your equity in your existing home. The minimum loan amount is $50,000. 
  • Fixed-rate Loan: A fixed-rate home loan that allows you to lock in your rate for up to five years. 
  • Home Equity Loan: An interest-only line of credit home loan with no set loan period for those with at least 20% equity. 

You can check out the complete list and details of mortgage products here.

HSBC home loan features

HSBC offers numerous features on its home loans. Key mortgage features offered include: 

  • Unlimited additional repayments: Certain home loans allow you to make unlimited extra repayments for free, helping you pay off your loan faster. 
  • Unlimited redraws: You can redraw the additional repayments made on certain home loans online. 
  • HSBC Mastercard: Some home loans include a HSBC Premier Master Card with no annual fees. 
  • No ongoing monthly service fee: Certain home loans have no monthly service fee with others have no establishment fees. 
  • Payment frequency: You can schedule your repayments to match the timing of your income, be it weekly, fortnightly, or monthly.
  • 100% offset accounts: Standard variable rate loans come with 100% offset accounts that let you save on interest. 
  • Split facilities: Some loans let you split between a fixed and variable interest rate, giving you the best of both worlds. 

How to apply for an HSBC home loan

You must meet the lending requirements before applying for a mortgage. Generally, you need to be:

  • Above 18 years old;
  • An Australian resident
  • Employed or earning a steady income

Depending on the loan, you might also need a clean credit history. 

You can apply for a mortgage on their website. You can also speak with a mortgage expert on 1300 694 722 or visit a branch.

Documents needed

You will generally need to supply the following documents:

  • Personal ID such as your driver’s license, passport, or Medicare card 
  • Payslips and proof of other sources of income
  • Asset and liability documents
  • Proof of savings, term deposits, managed funds etc.

HSBC Frequently asked questions

How long does it take for HSBC to process my mortgage application?

Pre-approval generally takes less time than an unconditional approval. In most cases, you could receive a pre-approval within one business day of completing your application.

The time frame for an unconditional approval, on the other hand, can vary as it largely depends on how quickly the bank can verify your identity, assess your application and transfer security. According to the bank, it can take up to three weeks to process and approve your mortgage application.

How does HSBC verify my identity?

The bank verifies your identity electronically, using the personal details you supply during your application. In some cases, should further information is required, it may verify your identity with ZipID; a mobile service that comes to you to conduct the verification in person. You would need to have your driver's license or passport on hand if that was the case.

You can also fill out their Customer Identification Verification form.

Why was my mortgage unsuccessful?

Regardless of lenders, your mortgage application can be unsuccessful if you don't meet the eligibility criteria or haven't supplied all the documentation required for the process to move forward.

Considering other lenders? Compare home loans with these low-rate offers for owner occupiers:

Lender
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval

VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
FixedMore details
NO UPFRONT OR ONGOING FEES

Basic Home Loan Fixed (Principal and Interest) (LVR < 70%) 3 Years

NO UPFRONT OR ONGOING FEES
VariableMore details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. Rates correct as of October 27, 2021. View disclaimer.