HSBC Fixed Rate Home Loan Review

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A fixed rate can safeguard you against rate rises in that period.

Locking in your interest rate on a home loan gives you surety and a competitive rates. If you don’t like uncertainty, then this loan can help you take some short term uncertainty off the table. This loan could be for you. After the fixed interest period, the loan will revert to the HSBC standard variable rate loan.

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Expert review

Marc Terrano

Review by


Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.

Expert review

Owner occupiers and investors can both take out this home loan for their next property purchase when they have a loan value between $50,000 and $15,000,000 for a period up to 30 years.

If you are wanting to fix you interest for a period of one to five years this loan is suitable for you and you can also opt to pay off the loan in principal and interest repayments for the life of the loan or interest only repayments monthly for a period of up to five years.

About this loan

What are the features and benefits of the HSBC Fixed Rate Home Loan?

  • Repayment frequency. Three payment frequency options of monthly, weekly or fortnightly repayments are available. Having such a range of repayments frequencies means that you are sure to be able to find one that suits you and your financial situation.
  • Loan split. Splitting a home loan is a great way to take advantage of other features that are not available on this home loan. Just because you'd like to have security from interest rate rises doesn't mean that you have to miss out completely on the flexibility of a variable home loan.
  • Extra repayments. You will not be charged any fees for making extra repayments on your HSBC Fixed Rate Home Loan up to the amount of $10,000.
  • Loan portability. If you choose to sell up and move during the term of your home loan you can take your loan with you without having to pay the upfront fees all over again, however there may be some fees payable for valuation of the new property.

What fees and charges come with this loan?

This loan doesn't charge any ongoing fees however below are some of the fees that you will incur with this loan:

  • Application fee: $0. This covers the cost of applying for this loan.
  • Settlement fee: $0. This is charged to cover the cost of setting up your home loan accounts.
  • Discharge fee: $300. This is charged when you close your home loan accounts whether that is through a payout or refinancing.
  • Switching administration fee: $300. This is a fee charged if you choose to switch your loan from a fixed rate to a variable.

Bundle discounts

Interest rate discounts are available for customers who package other HSBC products with their HSBC Fixed Rate Home Loan.

Home Loan Offers

Important Information*
Logo for Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)
Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)

Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

Logo for St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback. With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get up $4,000 cashback and borrow up to 90% of the property's value. (Terms, conditions & exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.

Logo for Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)
Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)

Get a competitive variable interest rate with no application fee or ongoing fees.

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16 Comments

    Default Gravatar
    p
    October 19, 2015

    Hi I’m earning $52,000 per year and looking for land and house of $500,000 and my deposit is 20 percent. My partner gets benefits of $1400 per month Centrelink and I have 2 kids – how much loan can I expect?

      Avatarfinder Customer Care
      Marc
      October 19, 2015

      Hi P,
      thanks for the question.

      Unfortunately, we’re not able to answer this question on HSBC’s behalf. For more information about what they would offer you, please click the ‘Go to Site’ button on this page and you can start a discussion with them.

      Cheers,
      Marc.

    Default Gravatar
    Atul
    May 27, 2015

    I have taken a loan from CBA in 2011 interest only on 95 % LVR and paid LMI on it. If I refinance with HSBC, do i need to pay LMI again? My interest only period is finishing in November. Will my loan be transferred keeping all other factors like “remaining time of loan” same?

      Avatarfinder Customer Care
      Marc
      May 29, 2015

      Hi Atul,
      thanks for the question.

      Unfortunately, if your LVR is still above 80%, you will be required to pay LMI again. Keep in mind that in some cases, if you call your existing LMI provider, you might be eligible for a refund of some of these funds.

      In terms of the remaining time left to pay your loan, this can be requested from you during your refinance.

      I hope this helps,
      Marc.

    Default Gravatar
    shady
    May 27, 2015

    Can I get this offer if I only paid 85% ?

      Avatarfinder Customer Care
      Marc
      May 29, 2015

      Hi Shady,
      thanks for the question.

      This offer is available for LVRs up to 90%, meaning if you have an LVR lower than this you’re eligible.

      I hope this helps,
      Marc.

    Default Gravatar
    Rejoy
    May 25, 2015

    I am looking at refinancing 6 home loans by around November – December 2015. The total amount will be approximately $1,980,000.00 and the LVR is approx 75%. What are the fees and charges for the premier loan. Could you please give some details. some of the properties will be put up as collateral securities, it will be like two separate bundles, of 2 and 4 properties. We are looking 3 year fixed term for 5 loans and a mix of fix and variable for the house we live in.
    Thanks you

      Default Gravatar
      Belinda
      May 29, 2015

      Hi Rejoy,

      Thanks for your enquiry.

      finder.com.au is an online comparison service and we cannot provide you with financial advice regarding your situation.

      You can view some of the fees of the HSBC Premier Fixed Rate home loan under the ‘fees’ tab on this page. For further information regarding their fees, please contact HSBC directly.

      Thanks,
      Belinda

    Default Gravatar
    Jeremy
    May 11, 2015

    Hey there,
    I Already own my own home in nsw and am living in wa and am looking at buying another property.my mortgage is 440,000 and the value is 590,000.how much money do I need to save for another deposit for a house if I’m looking at one At 479,000 in wa?

    Thanks look forward to your reply
    Jeremy

      Default Gravatar
      Belinda
      May 27, 2015

      Hi Jeremy,

      Thanks for your enquiry.

      For the HSBC Premier Fixed Rate home loan, they offer a maximum LVR of 80%. If you’re looking to purchase a property valued at $479 000, you’ll need to come up with a 20% deposit of at least $95 800.

      I hope this helps.

      Thanks,
      Belinda

    Default Gravatar
    Garry
    May 5, 2015

    I live in a house and have a mortgage of about $120,000 the house is worth about $630000 to $ 670000 as it stands on the full block , i have obtained a planning permit to build a unit in the rear of the building , this i figure would cost about 250000 all up , im on a pension , but still do some work for myself , but my income figures look ordinary on paper , i have had my own company for about 20 years , my idea is to build the town house move into that and sell the house at the front, i think it would be worth $525000- $560000 with the reduced sized block, im not sure , i need the finance to build the townhouse , your feedback would be appreciated

      Default Gravatar
      Belinda
      May 27, 2015

      Hi Garry,

      Thanks for reaching out.

      I’ve sent you an email to follow up with your enquiry.

      Regards,
      Belinda

    Default Gravatar
    John
    April 23, 2015

    Hi

    I have heard through a friend that HSBC except Guarantors from the UK is this correct? we would like to buy the property we live in but do not have a deposit but my parents in England own 4 – 5 properties and willing to be guarantors….I was made to believe this is possible as HSBC is a international bank?

    kind regards

    John

      Default Gravatar
      Jodie
      May 8, 2015

      Hi John,

      Thank you for reaching out, we have followed up via email to your enquiry.

      Regards
      Jodie

    Default Gravatar
    Trish
    April 21, 2015

    What is hsbc’s LVR for 43 hectares rural/residential land loan

      Default Gravatar
      Jodie
      April 29, 2015

      Hi Trish,

      Thank you for contacting finder.com.au.

      I have sent through an email in response to your query.

      Regards
      Jodie

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