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HSBC Home Value Loan Review

Rates and fees last updated on

Enjoy a competitive interest rate and no monthly account fees with the HSBC Value Home Loan.

If you’re looking for a basic home loan that has a competitive interest rate, but don't want to miss features that can help you pay off your loan faster, you may want to consider the HSBC Value Home Loan.

Limited Time Offer

For a limited time there is no establishment, valuation and settlement fee for the Resident Owner Occupier Only rate.
Other rates may still charge these fees.

Interest Rate Max Insured LVR Max LVR
Variable Rate (Owner Occupier)
4.62% p.a.
Comparison Rate
4.68% p.a.
90% 80%
Resident Owner Occupier only
3.85% p.a.
Comparison Rate
3.86% p.a.
90% 80%
Investment
5.24% p.a.
Comparison Rate
5.30% p.a.
65% 65%
Product NameHSBC Home Value Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$50,000
Maximum Loan Amount$7,500,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options

Application Fee$600
Lender's Legal Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$150
Discharge Fee$300

Pros

  • There are $0 ongoing monthly fees to pay.
  • You can make extra payments at any time without penalty.
  • You can withdraw extra funds from your mortgage via the redraw facility (minimum redraw amount is $500).

Cons

  • A discharge fee of $300 applies when you close your home loan account.

Things to consider about the HSBC Home Value Loan

The HSBC Home Value Loan can be used for investment or owner occupier purposes. This loan is also an option for borrowers who are looking to refinance, with HSBC's streamlined "Fast and Easy Refinance Process". When the documents are returned from the customer, HSBC intends to have the loan settled on the same day or the next business day.

With this product, you can borrow between $50,000 and $7,500,000. You can take out the home loan with a term up to 30 years and can borrow up to 90% of the property's value.

Be mindful that if you borrow more than 80% you will have to pay lenders mortgage insurance (LMI).

Features of the HSBC Home Value Loan

  • Interest-only. The interest-only option means that you can reduce your repayments and free up some extra cash. You can make interest-only payments for a maximum of five years.
  • Extra payments. You can make additional repayments towards your loan without penalty, allowing you to minimise the interest payable over the life of your loan and reduce your loan term.
  • Flexible repayment schedule. With the HSBC Home Value Loan, you can choose from a weekly, fortnightly or monthly repayment schedule.
  • Portability. The portability feature gives you the flexibility to transfer your home loan in the event that you move property. This means you can save on application and other mortgage fees by maintaining your HSBC Home Value Loan.
  • Redraw facility. The redraw facility means that you're able to access any of the extra funds you have deposited towards your home loan. Your first redraw will be free, but subsequent redraws will cost $20 each after this. You'll have to redraw a minimum of $500.
  • Split Loan option. This option lets you to split your loan into both variable and fixed rate portions. When you apply for the HSBC Value Loan you get the option of having one split for free.
  • Customer service. When you apply for the HSBC Home Value Loan, you'll be paired with a personal Relationship Manager who will help you through the entire process and answer any questions that you may have.

Fees

  • Establishment fee $600. HSBC charges an establishment fee to cover the cost of setting up your loan. This fee is currently waived for the Resident Owner Occupier only loan.
  • Loan settlement fee $150. The loan settlement fee covers the administration and legal costs of settling your loan.
  • Valuation fee. The home valuation fee is quoted on application. This fee is charged so HSBC can receive a value of the property you are using as security for the loan.

HSBC needs to pay for an independent home valuation before you can finalise the loan. This helps HSBC understand the value of the property and helps to determine how much you can borrow and whether mortgage insurance is required.

How to apply

If you believe the HSBC Home Value Loan is right for you, click on the green 'Go to site ' or 'Enquire' button. You will then be redirected to the HSBC website or to a mortgage broker page.

Then you can discuss your eligibility for this loan with a HSBC lending specialist or a qualified mortgage broker.

Required documentation

When you apply for the HSBC Home Value Loan, you'll need to supply the following:

  • Personal details. You'll need to provide your name, date of birth, residency status, current residential address and employment status.
  • Assets and liabilities. HSBC will need you to outline any assets that your currently own (e.g. shares or managed funds), and details about any liabilities you have (e.g. credit cards or a car loan).
  • Income and expenditure. You'll need to provide details of your gross income and your monthly expenses.
  • Loan structure and purpose. You'll be required to specify details including the number of loans, loan type, loan term and the interest-only term (if applicable).
  • Security details. HSBC will need information regarding the security property including property type, property ownership and address.

How can a mortgage broker help?

A mortgage broker is a qualified expert who can help you navigate through the complex world of home loans. You might consider going with a mortgage broker if:

  • You are confused about choosing the right home loan
  • You have difficult or unique needs (for example, if you have poor credit history or are self-employed)
  • You are too busy to search for a loan yourself
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This page was last modified on 7 July 2017 at 11:21am.

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56 Responses

  1. Default Gravatar
    KrisztinaMay 21, 2017

    Hi, I was wondering whether you would give home loan (owner occupier) for a home that is 38+7 balcony sqm total 45 sqm one bedroom in Glebe? I would like to refinance 80% of the property loan. Total value is $650 000.

    • Staff
      AnndyMay 21, 2017Staff

      Hi Krisztina,

      Thanks for your question.

      The HSBC Home Value Loan is available for refinancing at 80% LVR. However, as we do not represent HSBC, we are unable to assess if your property will qualify.

      Please do check if you meet the eligibility criteria listed above. You may also directly contact HSBC to directly discuss your eligibility.

      Alternatively, you may compare other home refinancing loans on this page. And if you need expert advice on the best option for your situation, you may also get in touch with a mortgage broker to assist you.

      Cheers,
      Anndy

  2. Default Gravatar
    ViApril 24, 2017

    Hi there,

    I am on a 457 visa and would like to apply for a home loan (max 80% LVR). Does HSBC do loans with 457 visa holders? Thanks.

    • Staff
      AnndyApril 24, 2017Staff

      Hi Vi,

      Thanks for your question.

      The home loan options being offered to temporary Australian residents are typical mortgage packages that would be available to Australian citizens or permanent residents. The main difference being the cap on the amount you are allowed to borrow and the down payment that is required. Depending on your job circumstances you may be able to qualify for the maximum LVR of HSBC Home Value Loan. You may have to directly get in touch with HSBC to discuss your eligibility.

      Alternatively, you may also compare other home loan products on this page.

      Cheers,
      Anndy

  3. Default Gravatar
    gerardApril 20, 2017

    Can you please provide me with a rate and monthly repayments for a 300k and 400k 3 year interest only loan. I would be providing a 35% cash deposit.

    • Staff
      AnndyApril 25, 2017Staff

      Hi Gerard,

      Thanks for your question.

      Unfortunately, we are unable to give a repayment quote for interest only HSBC Home Value Loan. You may have to directly contact HSBC to get a quote.

      Alternatively, you may also compare other interest-only home loans here.

      Cheers,
      Anndy

  4. Default Gravatar
    DavidNovember 23, 2016

    I requested for call back for home loan several times. No one called me. Is this is a sign of bad customer service?
    Can you post here an estimate of this situation? I have 20% deposit,will move to the house in 6-12 months time,seeking 300K loan from bank. I would like to know variable rate(with offset account) and also fixed rate(2 years). With this I need to know all the legal costs ie – monthly fee,yearly fee,valuation fees,maintenance fees,etc. I will compare with CBA which they approved for the loan .(Pre Approval)

    • Staff
      HaroldNovember 23, 2016Staff

      Hello David,

      Thank you for your inquiry.

      Our company finder.com.au is a financial comparison website and general information service designed to help consumers to make a better decision. Please note we do not represent any company we feature on our pages. For HSBC Home Loan you may want to check this page for your guide and reference. Also, if you wish to speak with their customer support please click the “go to site” button based on the link I provided. Then at their page click the “enquire now” button.

      I hope this information has helped.

      Cheers,
      Harold

  5. Default Gravatar
    DonNovember 20, 2016

    We have an existing home loan and we would like to re-finance to get a better rate and pay off the loan at a faster rate-$140.000.00

    • Staff
      AnndyNovember 21, 2016Staff

      Hi Don,

      Thanks for reaching out.

      If you are looking for a home refinancing loan, you can compare your options here.

      If you aren’t sure which loan option is more suitable for your needs, a mortgage broker may be able to help.

      Cheers,
      Anndy

  6. Default Gravatar
    JaneNovember 16, 2016

    I am looking to refinance. For this 3.55% loan product, will the LMI requirement to borrow 90% be waived if the borrower is a dentist?

    • Staff
      AnndyNovember 16, 2016Staff

      Hi Jane,

      Thanks for your question.

      Normally, lenders have a separate department dedicated to home loans for ‘professionals’ including dentists. Lenders see the dental industry as very stable, so they’ll offer loans to dentists which have some extra benefits for borrowers such as waived LMI premiums up to a certain Loan to Value Ratio (LVR).

      I suggest that you directly get in touch with the lender you are interested in and enquire about this benefit.

      Cheers,
      Anndy

  7. Default Gravatar
    November 8, 2016

    Hi im looking to refinance. Is 3.55% continuous variable rate or just a introductory fixed rate?
    Is there any fees to split my home loan into 6 accounts?
    Thanks

    • Staff
      HaroldNovember 8, 2016Staff

      Hello Jack,

      Thank you for your question.

      1. Is 3.55% continuous variable rate or just a introductory fixed rate?
      - Actually, the interest rate type for this product is variable.

      2. Is there any fees to split my home loan into 6 accounts?
      - This option will let you to split your loan into both variable and fixed rate portions. However, you may need to check with HSBC regarding how many accounts you are allowed to split.

      I hope that helps.

      Cheers,
      Harold

  8. Default Gravatar
    HenriNovember 2, 2016

    I have a 215000.00 mortgage and a 20000.00 Equity loan.
    Can I re finance for 235000.00

    • Staff
      HaroldNovember 3, 2016Staff

      Hello Henri,

      Thank you for your question.

      Yes, they can refinance given you’ve met the following requirements.

      As a general rule your income needs to be enough to afford the mortgage repayments. The amount you can borrow is also influenced by your track record at saving. Take into account any current borrowings and if you are managing the payments. If you are buying a house with a partner, then include his/her numbers as you calculate. For further guidance, you may need to contact for a relationship manager.

      I hope that helps.

      Cheers,
      Harold

  9. Default Gravatar
    NikhilOctober 8, 2016

    Max insured LVR 90% – does it mean the owner only needs to pay 10% deposit and no LMI will charged by the bank ?

    • Staff
      AnndyOctober 10, 2016Staff

      Hi Nikhil,

      Thanks for your question.

      If your home loan has 90% LVR, you are required to pay at least 10% deposit.

      For HSBC Home Value Loan, if you borrow more than 80%, you will have to pay lenders mortgage insurance (LMI).

      Cheers,
      Anndy

  10. Default Gravatar
    markOctober 6, 2016

    Can you borrow for vacant land and are there any postcode restrictions? 2537

    • Staff
      AnndyOctober 10, 2016Staff

      Hi Mark,

      Thanks for your question.

      The HSBC Home Value Loan is offered for investment or owner occupier purposes.

      If you are looking to borrow for a vacant land, you can check AMP land loan and Gateway Credit Union land loans.

      You may also reach out to a mortgage broker who will take all your circumstances into account and offer you a range of home loan options.

      For postcode restrictions, you will have to directly get in touch with your lender to ask.

      Cheers,
      Anndy

HSBC Home Value Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $600 / $0

  • Max LVR

    80%

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