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Mortgage Rates Commentary

HSBC lowers its fixed rates

Wednesday 9th of November 2011

HSBC has dropped its two, three, four and five year fixed home loan rates. Its new two year rate is 5.87% - a reduction of 23 basis points and a market leading rate among major banks. See how it compares here

The three year rate is down 10 points to 6.40%. the four year rate is down 25 points and the five year rate is down 15 to 7.20%.

In addition to dropping the fixed home loan rates, HSBC is still offering customers the ability to further reduce any of their fixed home loan rates by up to 1%p.a. by taking out certain insurances with the bank.

However to get these rates you have to be an HSBC Premier customer with either a minimum combined home loan of $500,000 or $100,000 in savings and investments.

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Latest Comments
FMA wants clearer fees
@first time caller - I can see the complexity you highlight, but as above, investors should be able to see what they are paying without having to reference multiple documents. Investment admin can track and report deductions for tax, withdrawals, fees et al, would be /should be straightforward to aggregate advice fees into costs at member level... at least I hope so.
1 day ago Goldcard
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@goldcard - how would you propose that a fund manager calculates the TER to include adviser fees given not all clients pay them and different advisers charge different fees, not to mention some advisors charge different fees to different clients? The advice fee gets disclosed in the adviser's disclosure statement and the statement of advice, so the client can add that to the published TER of the fund they are invested in to see how much they are paying overall.
1 day ago First time caller
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Schedule 4 of the FMCA regs 2014, particularly clauses 2(1) and 53(3) provide the basis for excluding individually charged advice fees from the statutory TER. This was introduced with the best of intentions, but now it is little more than an invisibility cloak for deductions from member accounts.
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