HSBC cuts two-year fixed-rates to 4.59%

HSBC has cut its two-year fixed rates for new home loans to 4.59%.

This is the lowest fixed-rate offering in Australia, according to InfoChoice and Cannex. 

To qualify, applications must be submit their applications by July 22. 

HSBC has also cut its three and five-year fixed rates to 4.79% and 5.09% respectively for new and existing customers.

The rate cut comes as Mortgage Choice reported that nearly a third of mortgage approvals in May were for fixed-rate home loans. 

“The easing in wholesale funding costs has also meant we can offer some of the lowest three and five year fixed-rates to our customers across the board,” says Alice Del Vecchio, head of mortgages for HSBC Australia. 

HSBC also offers a 4.99% variable rate home loan. 

“With fixed rates like these well below standard variable rates, now is a great time for borrowers to consider fixing or splitting their home loan between fixed and variable rates to get the best of both worlds. It’s a fantastic combination of certainty and value,” says Del Vecchio.

HSBC’s fixed rates are as follows:

2-year fixed rate 4.59%

3-year fixed rate 4.79%

5-year fixed rate 5.09%

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

Comments

Be the first one to comment on this article
What would you like to say about this project?