These home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
Key takeaways
HSBC is a global bank offering home loans and other financial services in Australia.
It has fixed and variable rate loans, including full-featured package loans.
This bank has online banking support and some branch coverage in major cities, but branch coverage is not as extensive as the Big Four or some local competitors.
You need at least a 10% deposit to qualify for most HSBC home loans. Many require a 20% deposit or, in some cases, even higher.
The following information is general in nature and applies to most home loans. There may be specific criteria that apply for this lender.
Age. You must be over 18 years of age.
Residency. You should be a resident of Australia.
Employment. You should have a regular source of income.
Documents required
When you apply for a mortgage with HSBC you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
Lenders like HSBC
There are a few international finance groups operating in Australia that are comparable to HSBC. You may also want to consider home loans from a large local bank or an online lender.
Citibank. Citigroup is an international bank that has been operating in Australia for decades and offers home loans.
ING. This online bank is part of the global, Dutch-based financial group of the same name.
More home loan questions
To make sure you find the right HSBC loan, you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
How important is branch support? HSBC has branches in major metro areas in most states, but its coverage is not as widespread as the Big Four. If you live near an HSBC branch or are comfortable applying online, then this won't be a problem.
What do you need the loan for? If you're buying a home to live in, you need an owner-occupier loan. Property investors need an investment loan rate. HSBC offers both.
Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a certain period so you can forget about rate changes at all?
What features do you need? You need to decide whether you need features like a 100% offset account, the ability to make extra repayments and the option to split your rate.
Home loan pre-approval is an optional step in the application process that some lenders offer. Pre-approval means a lender has examined your savings, income and spending habits and has a rough idea of how much it could lend you. It's not the same as full loan approval and it's no guarantee that the lender will ultimately approve a full application. But it does allow borrowers to start looking for a home with more confidence and a clearer idea of their borrowing power.
Pre-approval is not something every lender offers, but many do.
Most Australian borrowers bank with one of the Big Four (Commbank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender. But there's no reason to worry about going with a smaller lender.
In Australia, banks and lenders are regulated by the Australian Prudential Regulation Authority (APRA) or the Australian Securities and Investments Commission (ASIC) and must comply with the National Consumer Credit Protection Act. HSBC is an authorised deposit-taking institution (ADI). This means customers with money deposited in an HSBC savings account benefit from the deposit guarantee scheme. This federal government scheme guarantees a customer's savings up to $250,000 even if the bank itself collapses.
Deciding between a fixed or variable rate depends on what you want from the loan. A variable rate loan can change at any time, either up or down. A variable rate usually offers more flexibility in how fast you can repay the loan and the cost of refinancing.
A fixed rate loan offers total certainty about your rate, for the fixed period. This means it won't rise, costing you more. But if your lender starts lowering rates you won't benefit either. Refinancing a fixed rate loan means breaking the loan, because you've agreed to a specific rate. This means you may have to pay a fixed rate break fee.
Mortgage brokers are home loan professionals who can help you find a suitable loan. A broker typically charges you no fee, because they receive a commission from your lender. Brokers are great if you are short on time or find the whole process of researching and applying for a home loan confusing. But you can definitely do it yourself and find a good loan. You may even find a better deal. That's because brokers don't compare loans from every lender in the market. They have access to a panel of loans and often don't have smaller online lenders in their panel.
The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.
All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.
10 of 55 reviews
★★★★★Peter parker (VIC) 1 year ago
Via customer survey commissioned by Finder
Had issues with offset account. And application on phone wasn't the best to use
★★★★★George662 (VIC) 1 year ago
Via customer survey commissioned by Finder
Well explained Polite Fairly quick
★★★★★Isabella (NSW) 2 years ago
Via customer survey commissioned by Finder
HSBC tailors to all my needs and has competitive fees and rates.
★★★★★ (VIC) 2 years ago
Via customer survey commissioned by Finder
★★★★★weyc (VIC) 2 years ago
Via customer survey commissioned by Finder
quite surprisingly good. they have steadily beat the average rates on the market
★★★★★weyc (VIC) 2 years ago
Via customer survey commissioned by Finder
they have good rates and even have relationship manager. their rates has a permanent discount of 0.5%
★★★★★Mack (VIC) 2 years ago
Via customer survey commissioned by Finder
The owner occupier rates are the best available
★★★★★Poetic Tree Fairy (QLD) 2 years ago
Via customer survey commissioned by Finder
Good company who are easy to work with and great customer service.
Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University. See full bio
Richard's expertise
Richard has written 669 Finder guides across topics including:
This HSBC home loan gives you flexibility, a low rate and minimal fees. You can get it with a 10% deposit.
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