Features and benefits

  • Pay off your loan faster
    Put all your income and savings into your HSBC Premier Home Equity Home Loan account and leave it there for as long as possible. This effectively lowers your loan balance and reduces the amount of interest you have to pay.
  • Build your assets
    Because the equity you have in your home is readily available via your line of credit, you can use it for any purpose, for eg mortgage another property or carry out renovations.

Interest rate

Interest rate for home equity loan
Home Loan Product Interest Rate (p.a)
Home Equity (Revolving)  5.44%
Interest rate for home equity loan
Home Loan Product Home Equity (Revolving) 
Interest Rate (p.a) 5.44%

How an HSBC 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.

Eligibility

To qualify for HSBC Premier, you need to meet the following qualifying criteria:

  • A minimum value of NZD500,000 in home loans with HSBC in New Zealand (facility limit not outstanding balance); and/or 
  • A minimum value of NZD100,000 in savings and investments with HSBC in New Zealand; and/or
  • If you are an overseas HSBC Premier customer you will automatically qualify for Premier customer status in New Zealand.

 

After qualifying as a HSBC Premier customer, minimum home loan values no longer apply, although other home lending criteria may still need to be met. Eligibility criteria applies to HSBC Premier and the eligibility criteria is set at our discretion.

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 HSBC Home Equity Loan

Things you should know

This section provides you with useful information related to making a house purchase.

Summary of the approximate costs to making a house purchase.
Costs Description
Valuation fee Where a registered valuation is required, the valuation fee starts from NZD5002.
Legal fees This covers the conveyancing of the loan. It can cost between NZD1,000 to NZD1,5002. There may be additional costs, e.g., 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.
Builer'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.
Summary of the approximate costs to making a house purchase.
Costs Valuation fee
Descrip tion Where a registered valuation is required, the valuation fee starts from NZD5002.
Costs Legal fees
Descrip tion This covers the conveyancing of the loan. It can cost between NZD1,000 to NZD1,5002. There may be additional costs, e.g., if you are setting up a trust.
Costs Land Information Memorandum (LIM) report
Descrip tion It may be advisable for you to get an LIM report, and this can cost from NZD3502.
Costs Builer's report
Descrip tion Your solicitor may advise you to get a builder's report. This can cost from NZD5002.
Costs Removal fees
Descrip tion 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.

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.

Customers must provide an owner occupied property as part of the security.

Interest rates subject to change or withdrawal without notice. HSBC Premier qualification criteria applies (e.g. combined lending of NZD500,000 or more or NZD100,000 of savings and investments with HSBC). Early repayment fees may apply to fixed rate loans. HSBC Retail Banking and Wealth Management Terms and Conditions (PDF, 639KB) apply. Issued by The Hongkong and Shanghai Banking Corporation Limited, incorporated in the Hong Kong SAR, acting through its New Zealand branch (“HSBC”).