This was posted 2 years 7 months 15 days ago, and might be an out-dated deal.

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HSBC Home Value Loan: 1.97% Variable (1.98% c.r., Expired) & $3288 Cashback (with Minimum $250,000 Refinance)

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HSBC Home Value Loan: 1.97% Variable (1.98% c.r., Expired) & $3288 Cashback (with Minimum $250,000 Refinance)
Go to Deal
Maychance on 07/04/2022 - 11:45 hsbc.com.au (1907 clicks)
Last edited 26/04/2022 - 09:04 by 2 other users

Available on refinance applications submitted to HSBC from 15 February 2022 to 31 May 2022 and settled by 31 July 2022.

Limit of one $3,288 cashback payment per borrowing entity and per customer. Where a home loan has more than one applicant and one applicant receives the cashback, all applicants are deemed to have received the cashback. Minimum refinance amount of $250,000 applies.

No offset, but redraw facility available.

Fees:

  • $600 Establishment Fee ($0 with promotional offer)
  • $150 Settlement Fee ($0 with promotional offer)
  • $300 Discharge Fee
  • Valuation Fee quoted on application

Basically identical to previous post from last year if anyone wants to read the comments re. HSBC - https://www.ozbargain.com.au/node/643218?page=1#comment

I missed the cashback deal from tic toc in Feb, so personally I'm currently tossing up between:

  • taking this deal via my former broker (wife prefers going through a broker, and comments from the last deal about dealing with HSBC directly are mixed)
  • this Citibank/broker deal - https://www.ozbargain.com.au/node/686375
  • refinancing to Athena or tic toc based on their relatively transparent approach to rate consistency

Using my own circumstances this deal seems to come out as just second-best to the Citi deal, but comments seem mixed re. Citi too (or maybe every bank?).

Financial Cashback Home Loan Loan Refinance

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closed Comments

  • ashftc on 07/04/2022 - 11:59
    +15

    Few Pros and Cons:

    Great rates. I refinanced with them last year. Took 4+ months and 50+ follow up emails which was pain. They do not provide fast payment or pay ID so transferring funds between account is no issue but transferring outside HSBC takes a day minimum. Recent app update makes the experience a bit better. No issue post settlement. They have 2% cashback offer on their bank account for any purchases made from their card under $100 which can be coupled.

    • ntt on 07/04/2022 - 12:55
      +3

      we're using them with the previous deal. Pro: cash back (duh) and 2% cashback every tap under $100. Cons: communication is quite bad, their bank system is not fully integrated like other big banks. Can't track with moneybrilliant and customer support is dull

    • Maychance on 07/04/2022 - 13:29

      Thanks for the insight.
      I take it you went directly through them rather than a broker?
      Is your loan fixed or variable? If variable, how is your rate now compared to when you refinanced?

      • ashftc on 07/04/2022 - 13:46
        +1

        I went variable and no rate hikes so far. Yes I went direct.

      • ntt on 07/04/2022 - 13:51

        thru their manager, she talked too fast, a bit of rude and I couldn't fully understand due to her accent to be honest, email communication wasn't great either. Don't need to take my words, just google HSBC reviews. The process was quite OK though. Variable with redrawn option. I haven't check the current rate because we don't pay anything now. I think its still the same, or a bit lower than when we signed

        • SimAus007 on 08/04/2022 - 10:08

          I refinanced with them and to be honest, although I agree the initial experience wasn't great, I don't care at all now as I never need to contact them, I am happy to be on one of the lowest rates and that's really all that matters to me.
          I am not sure why you'd need to contact a bank nowadays on a regular basis, but if you need to, then HSBC might not be the best choice.

          • ntt on 08/04/2022 - 10:15

            @SimAus007: We need to contact a couple of time to register with phone apps and when created account with them. And even now I have problem with the app login code too, very hard to contact. You'll never need to call them until you need it, you'll see. Anz, ING are fine and effective

            • SimAus007 on 08/04/2022 - 10:18

              @ntt: Fair point :)
              Looks like HSBC has some work to do.

    • heineken016 on 07/04/2022 - 14:05

      I've recently opened the 2% savings account and currently trying to get the platinum credit card and while it's a good deal.. Man their systems suck.
      Need to do heaps of call backs, emails, and two compete applications and I'm still not approved. Real PITA

    • npc on 07/04/2022 - 14:21

      I had exactly the same experience with HSBC refinance, thanks for sharing.

    • bio on 07/04/2022 - 15:49

      Can confirm. It took 3+ months to refinance and many emails and phone calls. No dramas during or after the settlement though. Waiting for the cashback now.

      They also offer a $100 cashback for their everyday account if you transfer $1,000+ every month, for 3 months.

    • polarq on 07/04/2022 - 15:53
      +1

      Same, I went for them from an ozb deal last year for home loan refinance in late Nov last year, settled last mid last month (Mar 2022), they take way too long with many back and forths, but good cashback rate though

  • chartparker on 07/04/2022 - 12:01
    +1

    I was going to take up this offer in Jan but then Westpac actually had good customer retention and offered me:
    $1000 credit into loan
    $2000 cashback
    Offset with package fee waived for the year ($395)
    Which also included refund of my CC fee for the year (I missed the cutoff date) and 10% saving on home insurance
    and reduced my variable rate from 2.29% to 2.09%

    In the end I was actually slightly better off financially just staying with Westpac, which still surprises me! I was halfway through the process of applying with HSBC, but when we went to the branch to verify our IDs they scrutinized everything and made us rewrite our signatures 3 times because they thought they looked slightly different to our IDs.

    Then when we got our HSBC cards we couldn't activate them because of an error on their end. YMMV but I recommend at least giving your current bank a chance to retain you. You might get lucky like I did

    • jazeng91 on 07/04/2022 - 12:07

      nice - anyone have similar experiences with CBA?

      Also how did you go about the retention process? did you just call up and say you were wanting to switch?

      • chartparker on 07/04/2022 - 12:10
        +1

        I was just trying to find out the break fees and filled out their form about moving banks https://www.westpac.com.au/personal-banking/home-loans/manag…

        Originally they offered only $2000 cashback so I told them that financially I need to make the best decision for my family and to call me back the next day if they could do any better. Basically I had to talk them up a few times and they offered me the above after a couple of days of back and forth when they could see I was still unconvinced.

        • YRT on 07/04/2022 - 13:42

          LOL - they had issues with my signature also, on two separate visits.

          I called the relationship manager who knew me personally, and the idiots behind counter still wouldn't accept my sigs.

          • JLLLL on 07/04/2022 - 16:27
            +1

            @YRT: Former HSBC counter monkey here, yes its difficult for everyone when clients can't be verified according to their signature specimen. My own signature is quite rough too so I prefer to use electronic banking to avoid this part.

    • silenthillrocks on 07/04/2022 - 12:34

      Is Westpac adopting the ANZ model of no package fee anytime soon?

      • Mick C on 07/04/2022 - 16:33
        +2

        Nope,,, seems like anz is the only bank out of the big 4 making this fee change - to win market share

        • buckster on 08/04/2022 - 07:30

          They're still charging fees though, just in a different way

    • Maychance on 07/04/2022 - 13:43

      Nice to hear Westpac came to the party.
      We've been with CBA for 4 years (refinanced once) and would gladly stay with them if they could even come close to what the smaller lenders are offering.

      I rang them yesterday and the guy I spoke to flat out said they didn't have the authority to offer cashback or rates anything close to 2% until they received my discharge paperwork, at which point it would be escalated.

      I dropped the ball on fixing the rate late last year so we're currently on 3.03% with about 40% LVR.

      My broker reckons he has a good relationship with HBSC and the whole process should take around 4 weeks, but I'm sure they all say that.

    • Big Deal on 07/04/2022 - 14:22

      Nice touch, same with Anz for us when we were considering moving to TicToc. Offered us 4k cashback and 2.09% variable.

      • silenthillrocks on 07/04/2022 - 15:23

        Did you have to give them a discharge form or just ask them to make an offer?

        • chartparker on 07/04/2022 - 16:35
          +1

          I had already started the process but I don't think I had put the discharge form in by that point, merely gotten accepted by HSBC

        • Big Deal on 07/04/2022 - 20:23
          +1

          This was after the discharge form, I never thought they'd counter so I dint even try!

      • chartparker on 07/04/2022 - 19:59

        When I originally left ANZ for Westpac the best they would offer was 100,000 QFF points and 3.6ish% And that was in the middle of covid.

        Considering Westpac at the time were offering $3k cashback for refi and 2.29% it was a no brainer to leave ANZ bank then.

      • buckster on 08/04/2022 - 07:51

        Interesting, they don't even say peep when we did the exact same thing

      • Deal finder on 08/04/2022 - 09:03

        Do it you mean that you were with ANZ and when you decided to move away, ANZ offered you $4000 cash and decreased the interest rate? How big is your loan?

        • Big Deal on 08/04/2022 - 15:14

          Thats right. Anz retained us by offering cashback and decreased interest rate. Around 440k left on the loan.

          • Jason Genova on 08/04/2022 - 15:15

            @Big Deal: i tried this and didnt work - will call again to see if i get a nicer consultant

          • Deal finder on 09/04/2022 - 17:31

            @Big Deal: I have a total loan way more than $440k but still ANZ is saying that don't offer any cashback to existing customers even if we leave.

            • Big Deal on 09/04/2022 - 23:07

              @Deal finder: I was surprised too, I got a call from Anz after I sent them the discharge form. And now the 4k has been deposited within a week. I may have just got lucky..

              • Deal finder on 10/04/2022 - 07:59

                @Big Deal: Did you just submitt the discharge form yourself or did another bank submitt it after you started the refinance process?

    • Nebargains on 08/04/2022 - 09:02

      Nice one, I just refinanced away from Westpac and they offered me the same basically (2.04% and 3k cash back). In the end I decided to just refinance to a different lender anyway. Part of the reason I decided to refinance to a different lender was Westpac only came to the party once they saw I was leaving and I had already tried to refinance with them and couldn't get a remotely competitive rate and they wouldn't let me borrow an extra 30k (LVR is about 40% and an extra 30k was well within our means) because I wouldn't meet serviceability requirements which is frankly laughable.

  • vawiyoci on 07/04/2022 - 12:02

    taking this deal via my former broker (wife prefers going through a broker, and comments from the last deal about dealing with HSBC directly are mixed)

    How do you search for a broker based on the bank they work with? Or was it just a coincidence that your one also went through HSBC? A lot the local ones around me don't advertise which banks they work with and the couple we did approach ended up just recommending one of the tier 1/big 4.

    Also when I called them up last week to enquire apparently they're pretty swamped atm and it will take about 8 weeks to settle.

    • Maychance on 07/04/2022 - 14:00

      Just coincidence. I honestly expected him to suggest ANZ given they seem to be the only Big 4 with remotely competitive rates lately.

      I only called the broker because my wife wanted to give him a chance given we'd used him twice before and she's unsure about making the jump from Commbank to the likes of Athena or Tic Toc.

      I'd already seen this deal but was wary given the stories like the ones in the comments here, but then he mentioned it and said HSBC have been the main bank he's worked with in recent times.

  • Vavoom on 07/04/2022 - 12:09
    +2

    Recently refinanced to HSBC for a similar offer with the cashback but with an offset.
    Settlement took something like 3 months to finally get done. Just slow overall after submitting our documents with weeks of no communication. This was after selecting the "FastRefi" option too. I wonder how much longer a non-FastRefi would have taken.
    HSBC app sucks when compared to Commbank. Can't even change your repayment schedule or amount in the app nor can you even view what these values are. I was told by my "HSBC Premier Consultant" that I would have to fill out and sign a form if I want to get that stuff changed. Annoying.

    Because the home loan is under two names, the online verification to get set up for online banking just wouldn't work and I was told that excuse (account under two names) by a bank staff member later. Phone call verification was a total pain with questions like "what was the value of your last transaction?" Umm, I don't bloody know? I'm a new customer! $0??? Any wrong answers were met with "I'm sorry, I can't help you today, you'll have to call again" and then I'd have to redial and sit in the queue again. I eventually just got this solved by going into the bank with my partner to get it done in person. We're millennials too so if we couldn't get through this rigmarole, I hate to imagine people less tech literate.

    Would only recommend if you are patient and can possibly visit an HSBC branch in person between the hours of 9-5 M-F to take care of matters.

    • chartparker on 07/04/2022 - 12:12

      I've also heard horror stories from my friends who refinanced to HSBC. It took them getting the broker to call the bigwigs in charge to get their issues sorted out after 5+ months

    • Maychance on 07/04/2022 - 13:49

      Thanks for the heads up! We're not in a hurry but 3 months would test me!

      We're coming from Commbank as well and my wife isn't excited at the prospect of losing the decent app and an unlimited number of offset accounts that have made budgeting/saving pretty painless.

      I saw the version with the offset for +0.10% interest and told myself I could manage with everyday accounts and keeping track of things in spreadsheets a bit better.

      Have you got the one offset account? And do you have your everyday accounts with HSBC now too?

      • Vavoom on 07/04/2022 - 14:51

        Just the one offset and we had to open an Everyday Global account with them as well but that has the 2% cashback on $100 spend or less offer so can't complain.
        We've kept out normal everyday saver accounts with commbank just for ease of use like online banking, payID, cardless cash, etc.

  • tothewheaty on 07/04/2022 - 12:12
    +1

    I switched to this deal last year using a broker - however onto their loan that offers a offset.

    100% offset
    Interest rate - 2.07%

    However I also qualified as a Premier customer - https://www.hsbc.com.au/premier/ - this offered 1/2 price annual package fee (from memory standard fee is $395) and 2 Premier mastercard options.

    However compared to all the other banks I have used their website is average and so is their mobile app - but overall the benefits/savings were definitely worth it.

    • Maychance on 07/04/2022 - 14:44

      How was your experience with them going through a broker?

      Did you get any sort of run or wait similar to other commenters here only via your broker as the middleman? Or was it smooth enough from your point of view?

      We won't qualify for Premier status but we've got two permanent incomes and about 40% LVR so hopefully they won't give us too much grief..

    • kl2999 on 07/04/2022 - 16:17

      Is their premier mastercard worth it?

      • dealmeister on 07/04/2022 - 22:10

        Just keep in mind that you are expected to transfer $9k to the premier account per month to keep your status active. But no obligation to keep the money there.
        Apart from that the 1/2 fee is good.

  • megaloman on 07/04/2022 - 12:14
    +1

    I applied with HSBC a couple of months ago but they've never gotten back to me.
    Just switched from NAB to tic toc with the $2022 cashback offer. The whole process from application to settlement took 3 weeks.

  • Farmos on 07/04/2022 - 12:16

    Homestar finance is good. Run out of Sydney on the smell of an oily rag, but nonetheless so far I've always had a quick response on the phone (within minutes of dialing I speak to someone), and they have competitive rates.

    • Jonzay on 07/04/2022 - 12:58
      +7

      I prefer Strong Bad's Cool Loans for Attractive People

      But you can bank tooooo!

      • buckster on 08/04/2022 - 07:53

        Just keep up your repayments or Trodgor will come visit

    • snensnay on 07/04/2022 - 17:42

      I am also with Homestar at a great rate. Offset, redraw, no fees. I don't know of a better rate in market. They are a bit manual in terms of process, but at this rate I can deal with that.

    • nickvdk on 08/04/2022 - 14:21

      I'm with Homestar at 2.29%. Was going to refinance to this deal but looked at Homestar website and they have Star Gold 60% LVR @ 1.79% with Offset. Made a quick call to them and their Retention team sent me a form to sign and within one hour my online banking showed the new rate. The only think Im pissed out with myself is that I could've done this earlier and save thousands $$.

  • turk182 on 07/04/2022 - 12:32

    Took 4+ months to refinance with them recently. Also they deposited the whole refinance amount into my personal bank account

    • bio on 07/04/2022 - 15:53

      That's weird. They deposited it to my previous lender's (NAB) account. It was a bit more than my total debt, so NAB refunded me later.

      • turk182 on 07/04/2022 - 15:59

        Yeh bit strange. I waited 3 days and then called them up, eventually the money went to the right place, just another delay

  • vin021079 on 07/04/2022 - 12:42

    I heard that HSBC doesn't have payID? anybody aware about this? I like payID better than BSB & Acc.no.

    • nguyentran on 07/04/2022 - 12:47

      they have quick transfer (From another bank to HSBC is instant) but from HSBC to another bank take roughly 1 day. No payid or osko, only bsb and account number

      • tlaing on 07/04/2022 - 19:32

        The transfer in is instant, as noted. The transfer out to an external bank (in my experience) takes a few hours but generally same day. I've managed to move money back and forth 3 times in a day (to keep my $9k/month deposit in for premier). IMO, Premier is useful if you're an dual citizen/expat and want easy banking in another country, It takes them 7 months of meeting premier criteria before they upgrade you.

        I setup a US account online when I got premier and it was super easy and pain free, US mastercard debit came DHL within a few weeks which make making US online payments easier, as many US online shops seem to be detecting non-us credit/debit cards and refuse transactions (e.g. discovery plus, HBO Max (when they were US only) etc.)

        I was going to move my mortgage over, but every time I threaten to move, my bank (heritage) drops my rates to match whatever competition I tell them i'm looking at.

  • clover on 07/04/2022 - 13:08

    I had opposite experience with HSBC. The loan manager acted fast and the whole process took less than 5 weeks for me. And most of the delay was because of me as I took a whole week to read all the loan documents. Overall, very happy and I am still with them. Nothing fancy about their app but I dont use it anyway except checking my balance every now and then.

  • EatingMug20 on 07/04/2022 - 13:10

    I bought my first home in October 2021. LVR is currently 83%, 2.09% at Westpac. Can I take advantage of these sorts of deals? Sorry for the vague question, I'm not really sure where to begin, so I am looking for personal experiences/advice.

    • Vavoom on 07/04/2022 - 14:53

      What you'll want to do is read their offer website and check out their PDS. There will be an LVR requirement. In our case our place was valued by someone who actually visited and then compared against the amount we were seeking to borrow.

      • EatingMug20 on 07/04/2022 - 15:30

        Thanks Vavoom. Can you clarify what you mean by "the amount we were seeking to borrow"? If my place is valued at 600k, and I have 500k owing, wouldn't it be a simple case of borrowing 500k?

        • Vavoom on 07/04/2022 - 18:46
          +1

          Yes whatever you're owing is what you'll be seeking to borrow when you refinance. In this case, HSBC would pay off whatever's remaining on your current loan and then you would be taking out a new loan with them.

    • Mick C on 07/04/2022 - 16:39

      Lvr has to be under 70 or 80%
      So either get a bank to value the property for higher ( you be surprised.. some banks valuation can diff by 5-15% bank to bank ) or pay down loan or wait

      • EatingMug20 on 07/04/2022 - 21:39

        Thanks Mick. The exact same townhouse in the building sold yesterday for 600k (well it's under offer) - would banks vary much is that is a very accurate guide?

  • greggsy on 07/04/2022 - 13:10

    I have a 750k loan. Could I move 250k to this one and 500k to another provider to get 2 or 3 cash backs?

    • greggsy on 07/04/2022 - 13:11

      It's against 1 house in case it matters

      • Jonzay on 07/04/2022 - 13:13

        I don't know for sure as it's not my area of expertise, but considering the collateral for the loan is your house, I would be surprised if you could split the home loan between multiple providers.

    • JLLLL on 07/04/2022 - 16:16

      It requires consent of the first secured party (1st bank) and very unlikely the 2nd bank would want to take a subordinate position if they were a regular bank.

    • Mick C on 07/04/2022 - 16:38
      +1

      You can’t split your loans between diff bank on one property. One property = one bank

      For these sort of cash back deals Anyway …

      • greggsy on 08/04/2022 - 10:52

        Thanks

  • bigbadboogieman on 07/04/2022 - 13:22

    On average how long does it take to process a move from one bank to another. My fix rate is coming to an end in 2 months and I am looking to move fast to fix a good rate.

    • superbass on 07/04/2022 - 13:40

      minimum 25 working days.
      I applied on 4rd of March but still waiting.

    • Mick C on 07/04/2022 - 16:46

      Food for thought - if you thinking of “ re fixing “ do it now - it break the current fix and re fix… pay the break cost as it be small or even zero most likely

      Why ? The fix rate would def be much higher in 2 month time ( it be well above 3% )

  • ozbargainerlife1 on 07/04/2022 - 13:36
    +1

    Worst bank. Don't go. Customer service is non existent

    • Janko on 07/04/2022 - 13:49
      +3

      Doesn't that make them equal worst?

  • Scottstots on 07/04/2022 - 13:40

    Currently waiting on pre-approval with HSBC. Organising the paperwork to be sent to the credit officer was very quick, but it's now been sitting with them for over a month. I've had to chase up about 10-15 times and have been ghosted for a while before being responded to. Good rates at a reputable bank but very slow processing times.

    • superbass on 07/04/2022 - 13:41

      I am still waiting and been over a month as well (4th March).
      Did you end up getting it sorted/approved and have a settlement date?

      • Scottstots on 07/04/2022 - 15:00

        I'm still waiting at the moment for my application to be picked up by the credit officer. So in terms of assessment, it has only gone through the bank manager unfortunately.

        • fishybone on 08/04/2022 - 02:33

          I had a similar experience but when I provided a target auction date and property address, they came through for me.

  • LittleTicket on 07/04/2022 - 13:49
    +2

    Probably need to think about why they’re offering this sweetheart rate. Market is factoring in some pretty decent hikes through to 2023, and banks don’t move in lockstep with the RBA, so could be a punish if HSBC decide their upping rates on their own volition.

    • Maychance on 07/04/2022 - 14:18
      +1

      Do you think HSBC will be worse than the competition in that regard?

      That is partly why I was originally interested in Athena/Tic Toc, but have only been aware of Athena in particular while rates have been falling, and wasn't sure how their automatic rate match would work when rates are going up.. Would you recommend them or any other lender in particular?

      Being quite new to this whole arena I find it crazy that there's so little transparency around rates offered or even well-organised reviews(?) for lack of a better word of lenders and how consistent their rates are.

      • LittleTicket on 07/04/2022 - 15:52
        +1

        It’s hard to say. I’ve not banked with them. You may have to do some desktop research to understand but rates haven’t risen since 2010. As long as you’re prepared to shuffle if they pull a sneaky on you if/when it happens, then take advantage of the deal. Most people suffer from complacency / CBF factor.

  • tmntz2018 on 07/04/2022 - 14:05

    I refinanced from ANZ to HSBC back in 2016. Back then that took about 3 months due to the influx of requests supposedly.

    However since then, any issues/queries i have are dealt with pretty much straight away. I've built up a great relationship with the Customer Service Manager. I also fixed my rate with them at 1.88% in March 2021 which took only a few emails and some online documentation. I understand a lot is done online but going into the branch has been able to help me from day 1. I know its hard for some but if you can make that first trip in it might be worthwhile to have a local contact rather than try chasing online. Just my two cents.

    Yes there app and online banking is average but worth the saving in my eyes :)

  • Kawaii on 07/04/2022 - 14:16

    I have just got my loan, can I do refinance?

  • acersaurus on 07/04/2022 - 14:24
    +1

    I tried to refinance with HSBC for their 2 year fixed rate, also in this cash back deal. They took 9 weeks to ask for further information (in march), at the point their interest rates had risen, and I was over it so I fixed with my current bank. The next week fixed rates went up again so it was a good move.

    For variable it might be ok, but be prepared to wait.

  • UltimateWarrior on 07/04/2022 - 14:30

    I have just recently refinanced from ANZ to HSBC, apart from taking 3 months my experience was great. My customer service manager at HSBC was very responsive and always kept me updated. She also managed to lock in my rates, at no cost, despite two increases from when we first started the process. 2.07% for both variable and 2yr fixed. To top it off I also got cashback for each property I refinanced so overall a positive experience. Their mobile app isn't too bad, so far, I haven't encountered any pain points.

    • acersaurus on 07/04/2022 - 17:36

      Geez locked in your rates? I was never offered this/didn't realise it was an option, and when the rates went up they simply told me that the rates would now be higher.

      Anyway glad it worked out for you. Unfortunately I have a negative opinion of them after my experience.

  • amsaini15 on 07/04/2022 - 14:48

    Has anyone taken Interest only variable rate with HSBC? How is the rate and did you still get cashback.

  • BaeSuzy on 07/04/2022 - 15:05
    +6

    seriously, ozbargain is awesome, sometimes you hate the comments because it seems full of trolls and idiots, then when you see the financial stuff pop up, there are a lot of smart money savvy people on here, well done everyone!

    My fix ends in November, hmmmmmm

  • RocketSwitch on 07/04/2022 - 15:29
    +1

    I don't know guys, HSBC sound like a pain in the ass. Not worth it.

  • wildstone on 07/04/2022 - 15:47

    It says valuation fee quoted on application. How much would this fee typically be?

    • Mick C on 07/04/2022 - 16:41

      $220 for under 1m
      But generally you can ask hsbc to waive this ( ie they pay )

  • kanad on 07/04/2022 - 15:52

    Is this for IP variable loans as well?

    • Mick C on 07/04/2022 - 16:40

      Not for this rate quoted .. owners only for 1.97

  • punkel on 07/04/2022 - 16:12

    OP - forgot to mention $390pa fee

    Edit* - on offset account only?

  • Vote for Pedro on 07/04/2022 - 16:47

    For the dummies (me), the discharge fee is for when you pay off the loan by either refinance or just finalising it?

    Basically its the exit fee?

    • Maychance on 07/04/2022 - 16:54
      +1

      Yep that's right. Just worth taking into account that you'll pay it at some point.

  • cache on 07/04/2022 - 16:58

    I wonder if UBank will match this

  • Bytelover on 07/04/2022 - 17:29

    I've posted on the previous deal as well, just my 2c:
    Went through a broker
    Very straightforward and easy, same process as with other banks
    Requested to settle on a certain date due to fixed rate with previous lender expiring, ended up settling 1 day later (perfect)
    I had a small hiccup with my mortgage not showing in my online banking app which took 2 calls to fix. On the first call they gave me their 'premier' phone number with supposed priority, been using this phone number and always get through within about 20min.. Better than most banks in my experience.
    2% Cashback is pretty cool and you also get a $100 bonus for opening the account and depositing money into it too.

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