HSBC Home Value Loan

Rates and Fees verified correct on July 27th, 2016

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.

Interest Rate Max Insured LVR Max LVR
Home Sweet Home (Owner Occupier)
3.85% p.a.
Comparison Rate
3.87% p.a.
90% 80%
Investment
5.01% p.a.
Comparison Rate
5.07% p.a.
65% 65%
Variable Rate (Owner Occupier)
4.74% p.a.
Comparison Rate
4.80% p.a.
90% 80%
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
  • There is a $150 settlement fee to set up this loan.
  • A discharge fee of $300 applies when you close your home loan account.
  • If you borrow more than 80% LVR, you may need to pay an LMI premium.

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 suited for borrowers who are looking to refinance, as HSBC has taken the hassle out with the ‘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 borrowing with an LVR greater than 80% will come with Lender's 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 as you'll only need to pay the interest portion of your repayment. You can make interest-only payments for a maximum of three years.
  • Extra payments. You can make additional repayments towards your loan without penalty. This means you can minimise the interest payable over the life of your loan and it also means that you can reduce your loan term.
  • Flexible repayment schedule. With the HSBC Home Value Loan, you’ll be able to find a payment frequency that suits your income. 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. If you opt to make these redraws through internet banking there will be no fees charged, however, if you use the redraw facility in branch or elsewhere you'll have to pay a $40 fee each time, and you'll have to redraw a minimum of $500.
  • Split Loan option. This option lets you enjoy the best of both worlds because you can split your loan into both variable and fixed rate portions. You can have a portion under the HSBC Home Value Loan and the remainder can be under the HSBC Fixed Rate Home Loan. 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.
  • Loan settlement fee $150. The loan settlement fee covers the administration and legal costs of settling your loan.
  • Valuation fee. The 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.

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.

Here, you can discuss your eligibility for this loan with a HSBC lending specialist or a qualified 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. When completing the application form, you'll need to provide details of your gross income and your monthly expenses.
  • Loan structure and purpose. In this section, 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.

Enquire about this home loan

HSBC Home Value Loan Interest Rate History vs RBA Cash Rate Graph


Enquire about this home loan
Was this content helpful to you? No  Yes

Related Posts

This page was last modified on 5 July 2016 at 13:17.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

36 Responses to HSBC Home Value Loan

  1. Default Gravatar
    | July 19, 2016

    Is it an offset account in this product?

    • Staff
      May | July 19, 2016

      Hi AJ,

      Thank you for your question.

      Unfortunately, the mortgage offset account is not one of the features of HSBC Home Value Loan. But rather the HSBC Premier Standard Variable Home Loan does have this feature.

      If you want to find other home loan products that have offset account, please feel free to check this page.

      Hope this has helped.

      Cheers,
      May

  2. Default Gravatar
    RK | April 24, 2016

    What is the maximum you will lend to in postcode 4744?

    • Staff
      Marc | April 26, 2016

      Hi RK,
      thanks for the question.

      You’ve come through to finder.com.au, a comparison and information service. Unfortunately we cannot answer this, so please contact HSBC directly with your question by clicking the green ‘go to site’ button.

      I hope this helps,
      Marc.

  3. Default Gravatar
    Naser | April 19, 2016

    I live in Canberra and would like to buy a house in Brisbane for the first time and rent it out and after a year or so will go back to Brisbane and live there. Should I apply for an investor loan? if so the rates would be higher, what happens when I’m back in Brisbane? Will my loan change to new home buyer then? I mean interest rates decrease?

    • Staff
      Belinda | April 20, 2016

      Hi Naser,

      Thanks for getting in touch.

      If you intend to rent out the property in Brisbane, you’ll need to initially apply for an investment home loan. However, when you move into the property and make it your principal place of residence (PPOR), you will need to contact your lender to alter the loan.

      Generally, there are higher interest rates attached to investor loans so depending on the lender and the type of product you apply for, you may find that an owner-occupier loan has a lower rate.

      All the best,
      Belinda

  4. Default Gravatar
    N | April 7, 2016

    Hi I would like to ask question. What is best variable rate and total cost for me to move my investment loan for my apartment from ANZ Bank to you ?

    Thanks
    NT

    • Staff
      Marc | April 7, 2016

      Hi NT,
      thanks for the question.

      To find out the best rate HSBC can offer you, click the Go to Site button on this page. This will take you to the HSBC site, where you can directly talk to them regarding your application and situation.

      I hope this helps,
      Marc.

  5. Default Gravatar
    Caroline | April 6, 2016

    Hi, is there a HSBC BANK in bunbury W.A.?

    • Staff
      Marc | April 7, 2016

      Hi Caroline,
      thanks for the question.

      Currently HSBC only has branches in Booragoon, Joondalup, Subiaco and Perth CBD.

      I hope this helps,
      Marc.

  6. Default Gravatar
    Jen | March 16, 2016

    I made an offer for studio unit (33m2) valuing around $280K in Melbourne City. This is not student or hotel apartment.
    Is this loan allowed for the studio unit?

    • Staff
      Belinda | March 17, 2016

      Hi Jen,

      Thanks for reaching out.

      You might be interested to read our article about home loans for apartments which explores the restrictions imposed on apartment loans and offers advice about how to improve your chance of being approved.

      Generally, the apartment will need to be at least 45-50 square meters (excluding the balcony or parking spaces) so unfortunately I think it may be difficult for you to qualify for finance for this studio apartment given it’s small size. Lenders impose stricter criteria for these types of dwellings as they believe that they may be more difficult to sell in the event that you defaulted on your loan.

      However, you can improve your chance of being approved by opting for a low doc loan and saving up a large deposit.

      HSBC will have their own policy when it comes to providing finance for apartments so you’ll need to get in touch with them directly and provide them with as much information as possible about the property.

      You may also want to speak to a mortgage broker to discuss your options.

      All the best,
      Belinda

  7. Default Gravatar
    Parry | March 12, 2016

    Hi, I would like to change my loan from cba to hsbc. Can i get an Interest only loan with this rate?

    Thanks

    • Staff
      Belinda | March 14, 2016

      Hi Parry,

      Thanks for getting in touch.

      You can compare our full range of HSBC home loans here or alternatively you can compare interest-only loans on this page.

      We also have a refinancing guide which explains the process and costs of refinancing to a new lender. If you enter your current loan details in the table, it will calculate how much you will save by switching to a new loan listed in the table.

      Thanks,
      Belinda

  8. Default Gravatar
    Fifi | February 26, 2016

    Once again. I have the loan with the Big4 on interest only. I have been disciplined to make extra repayments treating it as a simulated P&I. Now I have a amount which is extra repayments. When moving over how do I deal with it. Should I take this amount over to the new bank and ask the new bank to pay the entire sum of the loan or only take the balance amount over and let the Big4 keep the extra repayments or advise.

    • Staff
      Marc | February 26, 2016

      Hi Fifi,
      thanks for the question.

      Unfortunately I’m unable to give personal advice regarding what is the best way to bring these extra funds across. I would recommend contacting a mortgage broker or financial planner who will be able to help you decide what is the best strategy for you.

      Sorry I couldn’t be of more help,
      Marc.

  9. Default Gravatar
    Fifi | February 26, 2016

    Hi,
    I am currently with a Big4 bank. The new rate of HSBC @ 3.99 is a tempter. I contacted my current bank who have tried to dissuade me from moving telling me its risk with smaller banks cause if they go bust or broke, they can forfeit/sell your home without your consent or knowing since the title is still with them and they own the property/asset. I am not sure of this claim, or the risk of using a smaller lender. I have used the Big4, and paid all interest money on time. So I am unsure of the risks of moving over staying with the Big4. If you can advise me.
    Thanks.

    • Staff
      Marc | February 26, 2016

      Hi Fifi,
      thanks for the question.

      We spoke to a home loans expert about this same topic and wrote an article about it here. Basically, in the event that a lender goes bust, the borrower won’t lose their home, but rather the loan is transferred to another bank. In some cases features can change when this happens.

      We also spoke to the Financial Ombudsman Service and were told that the ‘loan agreement can be changed, but only in accordance with the terms of that (original agreement).

      It might be a good idea to contact an experienced mortgage broker or the Financial Ombudsman Service for more information about this.

      I hope this helps,
      Marc.

  10. Default Gravatar
    George | February 5, 2016

    hey there

    i live in Sydney and want to buy a first home in my wife’s name

    we have about 35000 in savings, i make 1500 per week cash, she is a full time mum on benefits around 1300 per fortnight

    i own 3 registered cars, 2 motorbikes, and do not have any debts nor do we owe money to any financial institutions.

    i want the loan entirely in my wife’s name, i have a default when i was younger.

    how much can i borrow and what would the repayments be?

    what paper work would she need to go ahead with the application?

    • Staff
      Marc | February 8, 2016

      Hi George,
      thanks for the question.

      You’ve come through to finder.com.au, a comparison service. We’re unable to tell you how much you could borrow for your situation. You might wish to contact HSBC directly about this to find out, which you can do by clicking the green ‘Go to Site’ button.

      I hope this helps,
      Marc.

HSBC Home Value Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $600 / $0

  • Max LVR

    80%

Ask a question
feedback

Exciting news!

myNBN.info is now part of the finder.com.au family.

Read more about what this means