Home Equity Loan

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HSBC Home Equity Loan

Growing your assets to create greater wealth.

Apply now for our home equity loan This link will open in a new window

Check eligibility in order to apply for our home equity loan

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)	4.69%

Interest rate for home equity loan
Home Loan Product	Home Equity (Revolving)
Interest Rate (p.a)	4.69%

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.

There are several ways you can contact us and/or apply for a home loan. Choose the one that suits you:

HSBC will only provide home loans to new customers if they meet the HSBC Premier qualifying criteria.

As an existing HSBC Premier customer, call you relationship manager
Call us at 0800 80 23 80 or +64 9 918 8350 (from overseas) 24 hours a day, 7 days a week
Visit us at Level 7, HSBC House, One Queen Street, Auckland 1010

Submit your application at a branch or to one of our dedicated relationship manager (depending on what you choose).

To commence with your application you will need the following items as a minimum:

Please note that you will also need to provide acceptable forms of personal identification as per our application form. Find out what the acceptable forms of identification are.

You bank statements from the last three months (from your main transaction account)
Proof of income
Sale and purchase agreement (if applicable)

Your applicaon will be assess and, if successful, we will aim to contact you with confirmation within two working days. We may need some additional information at this point.
Your documentation will then be forwarded to your solicitor.
The documentation is then signed by you and your solicitor and returned to us.
The settlement can then occur.

Apply for HSBC Home Equity Loan

New to HSBC?

Apply now for an HSBC home equity loan This link will open in a new window

Proof of identity form (PDF, 125KB) to provide us your proof of identity to apply for home equity loan Download link

Contact us

Call your relationship manager or speak to one of our Premier consultants at 0800 028 088¹.

Request a call back to get us contact you about the home equity loan This link will open in a new window Visit an HSBC branch to visit us in person to learn about home equity loan

Already an HSBC customer?

It's quick and easy to apply for a new home loan.

Call your relationship manager or speak to one of our Premier consultants at 0800 028 088¹.

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.

You may be on top of everything; however, here is a quick list of tips to bear in mind when buying your home:

Get a valuation if you are concerned about the value of a property you are interested in
Get a builder's report if you have queries about the structure of the property
Ask a friend with more experience in property buying if you've seen a property that you absolutely love but something is niggling away at you
Use logic and find a consistent way to compare the features of the properties you've visited in your search, e.g., location, light, heating, quality of bathroom and kitchen fittings, even your 'gut feeling' as you first walk into the property
Take your time though you may feel under pressure to put in an offer, perhaps because an agent has mentioned there are other interested parties. Remember that it is a large, legally binding commitment and that you need to feel confident. Do things in your own time, and if you have doubts, don't ignore them

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your home loan.

Here are some useful consumer websites you might find helpful to refer to:

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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”).