How an HSBC Premier Home Equity Home Loan works
Provided that you own at least 20 per cent equity in your home, you can take advantage of our HSBC Premier Home Equity Home Loan. It differs from other loans because:
- It is a continuous line of credit that gives you access to the funds you need to forge ahead
- It operates just like an overdraft, but without the high interest rates
- It gives you the freedom to pay off your home faster and build your asset base
- It requires a disciplined approach and good money management
- You can access it via your HSBC EFTPOS (Electronic Funds Transfer at Point of Sale) Card, cheque book or internet banking
As you build your assets, you’ll find that the HSBC Premier Home Equity Home Loan offers many advantages, including:
- The opportunity to pay off your loan faster
- A smarter way to work with the money you have
- A competitive, variable interest rate
- Flexibility to repay the principal when you choose
Splitting your loan
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 our customers ask us about buying a home.
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