Home Loan Refinance - HSBC 5.25% Variable

Ldmorg78 on 02/04/2013 - 15:48

Hi,

Looking to refinance our home loan. Currently with St George who have offered 5.59% variable.

HSBC currently have an offer of 5.25% variable which is considerably less than most. It does not have an offset facility, but we can split our mortgage with their package at 5.59% (matching StG) to gain the offset. This will save us approximately $1800 per year, so quite tempting.

Has anyone had any experience with HSBC for home loans or particularly with this package? Any advice much appreciated.

Loan details
https://www.hsbc.com.au/1/2/homeloansave

Thanks
Dave

Financial

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Comments

  • [Deactivated] on 02/04/2013 - 18:16

    Call Laurie 0405546256 Citywide lending mortgage broker thats what I did got me a rate of 4.99% way better then 5.25

    • pinnacle on 03/04/2013 - 19:28

      Is it Fixed or Variable. A Variable of 4.99% is too good to be true…

      • gibspmuh on 04/04/2013 - 13:37

        Take a look at http://www.statecustodians.com.au/Home-Loans/Cheap/Peak-Perf… for a variable rate of 4.99% (though the comparison rate is significantly higher). I haven't used them so I can't vouch for them but the rate is certainly available publicly.

        • siraitken on 04/04/2013 - 13:55

          The loan suggested looks very good.

          Just compare the total costs per year (interest + fees)

          Example 1:
          Loan 250000
          Rate 5.25%
          Interest 13125
          Fees 0
          Total Cost 13125

          Example 2:
          Loan 250000
          Rate 4.99%
          Interest 12475
          Fees 345
          Total Cost 12820

          The lower the loan the greater impact fees will be.

    • dmorg78 on 03/04/2013 - 19:45

      Thanks. Is that fixed or variable?

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