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HSBC Premier Floating Rate Home Loan

How an HSBC Premier Floating Rate Home Loan works

If the interest rate varies on an HSBC Premier Floating Rate Home Loan, it is usually in line with changes in the Reserve Bank's official cash rate. As a result, both the interest rate applied to your loan and the amount you are required to pay on a monthly or fortnightly basis may also rise or fall.

If interest rates fall, you get a useful choice:

  • To reduce the amount of your repayments

Or

  • To continue making repayments at the higher level, helping you pay off your loan faster

Additional repayments to shorten the loan

  • Make extra payments increasing your monthly repayments above the minimum
  • 'Lump sum' repayments also make a substantial difference over the life of your loan

Split your loan for extra security

By 'splitting' part of your loan into a fixed interest rate component, you can protect yourself against rising interest rates.

Before you apply, it's a good idea to make sure you are prepared.

Answering your questions

We are happy to help you with any questions you may have. Alternatively, you may also want to refer to some of the frequently asked questions that our customers ask us about buying a home and our loan rates.

A helpful checklist

We've created a how to apply checklist that covers helpful information such as:

  • What HSBC needs to know – a comprehensive list of information you may need when you apply
  • What you need to do – to help you understand the steps involved in buying your home
  • What costs are involved – to help you budget
  • How long things might take – to help you plan ahead

Other useful information

Please also refer to the useful information section, which includes:

  • Important considerations associated with having an HSBC home loan so there are no surprises
  • Home buying glossary – we aim to keep things simple, but here is a glossary of unfamiliar terms
  • A list of useful websites you might need as part of the home-buying process
  • Buying tips in case it's your first home purchase

Some terms and conditions you should be aware of:

You may need to pay us a prepayment loss recovery if a loan is repaid (in full or in part) or switched to another loan during the fixed rate period. Full particulars of the prepayment loss recovery or break cost formula is contained in your loan agreement, which will be disclosed to you or your solicitor prior to signing or click here to find out more now. For HSBC Premier eligibility criteria, normal lending criteria apply. HSBC Retail Banking and Wealth Management terms and conditions and  HSBC Retail Banking and Wealth Management fees and charges applies. Details are also available upon request from any HSBC branch.