HSBC has lowest home loan interest rate

MANILA, Philippines - Everyone dreams of a place they can call home. Whether it’s a small studio in a high-rise condominium or a starter home in a subdivision, we all aspire to have a place of our own.

With HSBC’s home loan proposition, achieving your dream home has become not only easier, but more affordable as well. It provides you with the flexibility to customize your loan to suit your needs, whether it’s to purchase a new home, build your dream home, renovate the home you have now, or refinance your existing home loan.

Ron Logan, HSBC head of Personal Financial Services, talks about HSBC’s Home Loan facility and how one can start building their dream home.

What special features does the HSBC Home Loan package offer that would encourage home loan prospects? 

We first launched our home loan service a few months back with a 6.99-percent interest rate, which at that time was already the lowest in the market. A couple of weeks passed and we started thinking, how can we make our home loan product even better? We HSBC folks love to challenge ourselves. Well, let’s bring our interest rates down even further! We’ve brought our interest rates down to 5.99 percent per annum under a one-year fixed re-pricing scheme. We also offer an added benefit for our HSBC Advance and Premier customers, who can enjoy 0.25 percent and 1 percent off respectively on the prevailing home loan interest rate on the next re-pricing period.

To make it even easier, you can choose to pay either monthly or every two weeks, depending on your cash-flow situation.

If you prefer to take out your loan using another foreign currency, we can do that as well. We’ll work with you and provide you with a quotation for a home loan with your preferred currency.

In summary, we offer you the lowest interest rate in the market at 5.99 percent, customizable repayment options, and world-class customer service.

How easy is it to acquire a loan? Does an applicant have to have a guarantor? 

Come in to any of our HSBC Bank or HSBC Savings Bank branches and have a casual conversation with one of our home loan specialists. You’ll be surprised at how easy it actually is. A guarantor is not necessarily required, but can certainly help if the loan is more than you can afford on your own income. That’s why we encourage you to speak to an officer who will work with you to find a structure that suits your specific needs. 

Almost all financial institutions are aggressively promoting all types of loans (from cars to homes to travel). What makes HSBC the more appealing offer? 

The relationship with your home loan bank should be more than simply about the rates, although ours are certainly some of the best in the market. But more than that, our friendly and knowledgeable staff is there to offer you our trademark, personalized service, global reach and local expertise.  By becoming an HSBC Advance or Premier customer, you can rest easy knowing one of the world’s largest, oldest and most successful banks is looking after all of your financial requirements and providing lifetime interest rate benefits.   

Who does a prospect call if interested? Will the HSBC contact person assist in all logistical steps, especially since the prospect may be unfamiliar with the process? 

Our staff will be delighted to assist you in every step of the home loan or refinancing process. We know this can be intimidating, especially to a first-time buyer. HSBC tries to make the process as easy and straightforward as possible, providing our clients with clarity and peace of mind. 

Can a husband and wife apply separately so that each can obtain two home loans? 

Usually the property being purchased is in joint names and thus a joint loan is the normal answer. This is also convenient from a matrimonial consent perspective. 

Does HSBC have any tie-ups with home developers? 

Most developers are approved for home loan finance from HSBC. In the unlikely event they are not, let us know and we’ll see if we can do something about it quickly. At HSBC, it’s not just about giving loans to new customers; we want to build a lifetime relationship with you by helping you with all your future financial needs. We want to help you build your dream life, not just your dream home. Come see us sometime!

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For more information about HSBC Home Loan, visit www.hsbc.com.ph or call 85-800 or 976-8000.