HSBC Mortgage - Direct or with a Broker?

I'm looking to move my mortgage, currently with Heritage on a variable 2.54% with offset (which took some effort to negotiate them down to).

I see HSBC also offer the same 2.54% with offset, with $3288 cashback and the option to fix a portion for two years (non-offset) for 1.88%. So after 2 years, if they don't have any good deals on fixed, i'd roll the fixed portion to the variable at the same rate i'm currently paying, having saved some interest for 2 years plus the cashback.

The other option I was looking at was ANZ's fixed for one year 2.04% with $3000 cash back and an offset — but if they don't have any good deals at the end of the year i'll be looking to switch banks as their variable rates seem well above what i'm getting.

Has anyone here moved to HSBC and have any feedback. Also would a broker be able to do a better rate than the advertised rates or am I better off just going direct to HSBC?

If you managed to do better with a broker, who did you use?

Thanks for any feedback

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  • Not sure if HSBC use brokers, my broker said they don't a few years ago.

    I assume you have done the maths on the cash back benefit vs lower interest rates, as there are definitely better rates available on the market on the variable (I'm on 2.19% using TicToc with offset for example).

  • Thanks for letting me know they don’t work with brokers. I’ll just make direct contact.

    Is anyone here currently with HSBC and getting a better deal?

    (Thanks for the heads up on your Tictoc rate, I’ve crunched the numbers and so far for us the hsbc seems the best bang for the buck for us)

  • In the middle of refinancing with HSBC atm. Went through Lendi as a broker as they could do it all online. Was in direct contact with HSBC but they wanted me to come into a branch which I saw as a waste of time.

    • Is it taking long to refinance? I heard there’s a bit of a delay at the moment

      • Just got the Docs to sign this weekend. So guess they are working Saturdays at least. Taken a few days longer than expected but Easter long weekend did happen.

    • Was Lendi able to offer any rates lower than those published on the HSBC website?

      • Not for me, just different options, offsets etc.

  • Have you considered St George for their $4k cash refinancing deal?

  • HSBC is trash. Terrible service. Horrid app.
    Just go with St George for the 4k then switch later