HSBC Floating Rate Home Loan
A Floating Rate Home Loan is where the interest rate varies. 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.
In the case of falling interest rates you can elect to reduce your repayments, or you may prefer to continue making repayments at the higher level, which effectively helps you pay off your loan faster. See our Benefits From Early Repayments section. Also, by 'splitting' part of your loan into a fixed interest rate component you can have additional security against rising interest rates.
Benefits
Competitive variable interest rate
Flexibility to make additional repayments without penalty to save on interest
Control to redraw any additional prepayments
Minimum redraw of NZD2,000, free of charge
Value with no account maintenance fees
Interest rate
Home Loan Product | Interest Rate (p.a.) |
---|---|
Floating rate | 5.89% |
Home Loan Product | Floating rate |
---|---|
Interest Rate (p.a.) | 5.89% |
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.
How to apply
This checklist aims to provide a handy guide for you when purchasing a residential property. What you need to do to apply for an HSBC home loan? The following is a guide to the steps involved in buying a home and is designed to help you save time. The whole residential house purchasing process, from the time you apply for your home loan until you move into your house, normally takes four to six weeks.
Apply for Floating Rate Home Loan
New to HSBC?
Contact us
It’s quick and easy to apply. Call us on 0800 028 088 to get started.
Already an HSBC customer?
Call your Relationship Manager or speak to one of our Premier Consultants at 0800 028 088
Things you should know
This section provides you with useful information related to making a house purchase.
Costs |
Description |
---|---|
Valuation fee |
Where a registered valuation is required, the valuation fee starts from NZD5502 |
Legal fees |
This covers the conveyancing of the loan. It can cost between NZD1,000 to NZD1,5002. There may be additional costs, eg, if you are setting up a trust. |
Land Information Memorandum (LIM) report |
It may be advisable for you to get an LIM report, and this can cost from NZD3502. |
Builder's report |
Your solicitor may advise you to get a builder's report. This can cost from NZD5002. |
Removal fees |
The cost of transporting your belongings. This obviously depends on where you are moving from and to, and the quantity of belongings you have. It can cost from NZD5002. |
Costs |
Valuation fee |
---|---|
Description |
Where a registered valuation is required, the valuation fee starts from NZD5502 |
Costs |
Legal fees |
Description |
This covers the conveyancing of the loan. It can cost between NZD1,000 to NZD1,5002. There may be additional costs, eg, if you are setting up a trust. |
Costs |
Land Information Memorandum (LIM) report |
Description |
It may be advisable for you to get an LIM report, and this can cost from NZD3502. |
Costs |
Builder's report |
Description |
Your solicitor may advise you to get a builder's report. This can cost from NZD5002. |
Costs |
Removal fees |
Description |
The cost of transporting your belongings. This obviously depends on where you are moving from and to, and the quantity of belongings you have. It can cost from NZD5002. |
You might be interested in
Terms and conditions apply.
1Calls may be monitored and/or recorded.
2Please note that the costs indicated are approximate only. They should only be used as a rough guide and are subject to change – every case will be different.
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 about early prepayment now. For HSBC Premier eligibility criteria, normal lending criteria apply. HSBC Wealth and Personal Banking Terms and Conditions (PDF, 134KB) and HSBC Wealth and Personal Banking fees and charges (PDF, 78.8KB) applies. Details are also available upon request from any HSBC branch.