HSBC Home Loan Review for Australian Expats
HSBC Australia, a subsidiary bank of one of the world’s largest financial institutions, HSBC, is known for offering a wide range of home loan services.
Is this bank ideal for your overseas mortgage?
- Borrow up to 60% LVR
- Flexible options for pre-payments
- Branches and ATMs in 70+ countries globally
HSBC Home Loan Options
As an Australian expat, see what home loans are available at this bank.
2-Year Fixed Rate
Standard Variable-Rate
Home Value Loan
Expats looking for security can find it with their fixed-rate package. With this loan, customers can be confident that their monthly repayments will be the same.
The bank offers competitive rates and the option to split with variable loans. The minimum loan amount is $50,000.
Other fixed rates are available for 1, 2, 3 and 5 years, but the 2-year fixed rate is the most popular.
Most borrowers prefer to use variable-rate loans to utilise the offset account and save on interest payments. Borrowers have access to a 100% offset account and the flexibility to redraw additional fees for free.
This variable-rate home loan is excellent for purchasing existing properties and construction projects.
*Note that interest rates apply on the day you draw your loan. Not at the time of application. Thus, they are subject to change.
Home Value Loan is the bank's featured variable rate product. Borrowers can make extra repayments without paying additional fees and can redraw the additional amount should they require the funds.
This loan requires one-off fees such as valuation fee, establishment fee and settlement fee but will waive monthly or annual fees after.
HSBC Home Loan Review
HSBC Australia offers a variety of benefits and features on its home loan packages.
| Pros | Cons |
|---|---|
Competitive interest rates to premier customers | Only does home loans with an LVR of up to 60% for expats |
More extensive deposits will allow customers to secure lower interest rates | Known for hefty overseas income shading |
Flexibility with prepayments which allows you to make unlimited extra repayments (only available for Home Value loans). | Not suitable for first-home buyers with a lower deposit |
A significant global bank with branches and ATMs in 70+ countries | Interest rates are less competitive than others in the market |
Allow us to find you the perfect home loan.
Apply online to get expert recommendations with real interest rates and repayments.
HSBC Home Loan Features
Here are the main features this bank offers on its home loans.
| Feature | Details |
|---|---|
Deposit Size | Maximum LVR of 60%, meaning you'll need a 40% deposit. |
Repayment Options | Make unlimited free extra repayments with a home value loan. |
Cashback offers | Offers customers cashback when refinancing a home loan. |
Interest Rates | 2-year fixed rate of 5.49% for expats investing in property in Australia. Variable-rate loans at 4.69%. |
Expat Information | Buyers from overseas will need a lower LVR. |
Facts About HSBC Overseas Mortgage
The bank offers some of the best interest rates available to their premier customers living overseas.
Borrowers can make extra repayments for free every year on their home loans.
HSBC has a strong presence in Hong Kong.
How Do I Apply For HSBC Expat Mortgage?
When you apply for a home loan with HSBC Australia, you must provide several documents.
Who is Eligible for HSBC Overseas Mortgage ?
- You don’t need to be a previous customer
- Over the age of 18
What Documents Will I Need to Provide?
You are required to provide several documents, including the following.
Form of Identification
Passport, driver's licence, birth certificate etc.
Income
Bank account statements showing three months of salary income.
Existing Loan Details
Details on other loans (housing, personal, or car).
Property Details
Mortgage and rental income statement.
Feel free to speak with one of us and find out if you meet HSBC’s home loan criteria!
Other Related Products from HSBC
Tha bank offers various home loan products, including the following.
Premier Australia loan
Premier customers can enjoy discounted interest rates and fees. They can also benefit from Premier Mastercard with HSBC rewards, no annual credit card fee, and a personal relationship manager.
Everyday Global Account
Make life easier with an all-in-one currency account for your everyday banking needs—no ATM or transaction fees at home or overseas.
Other Australian Lender Reviews
FAQs About HSBC Overseas Mortgage Loan
What are the features of an HSBC Australia home loan?
HSBC offers a variety of features on their home loans for those looking to purchase in Australia. These features include unlimited free extra repayments on variable home loans and cashback offers for those looking to refinance. Buyers from overseas will be required to have a maximum LVR of 60%.
Can I buy a property in Australia with HSBC?
Yes. it is a global financial institution becoming increasingly popular with overseas buyers looking to purchase a property in Australia. You’ll be required to provide a deposit of 40%, but this will allow you to secure a lower interest rate than those with lower stakes.
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