The Process From Start To Finish

Step 1. How much can I borrow?

It’s a good idea to determine your borrowing power and repayments before you start the search for your home. HSBC will usually lend up to 95%* of the value of the property, so you could get started with as little as 5% of the purchase price, plus your loan set-up costs, conveyancing fees and stamp duty. If you are borrowing more than 80% of the value of your property, you will need Lenders Mortgage Insurance.^*

Use the Borrowing Power Calculator to give you an approximate guide to how much you can borrow.

To find out exactly how much you can borrow, visit your nearest HSBC branch or call us on 1300 308 008.

Step 2. The property search

When looking for the ideal property, be clear on what your priorities are. Is the third bedroom a must-have or a nice-to-have? How important is proximity to public transport or work? Everyone’s priorities will be different and your budget will dictate where you may choose to buy. Prioritise what’s important to make the search process easier.

Some useful tips on choosing the right property.

Step 3. Property inspections and legal advice

Now that you have located your ideal property, a conveyancer or solicitor can help you to understand the purchase contract terms and conditions. HSBC always recommends that you get legal advice, especially given the significance of the purchase you are making. This may save you thousands of dollars in running repairs and headaches down the track.

Step 4. Choosing the right loan

Confused by home loan jargon? Not sure which loan is right for you? HSBC has a range of home loan solutions that can be tailored to meet your needs. If one loan does not deliver exactly what you want, you can even combine certain loan options to suit your lifestyle and goals.

See which loan is right for you.

Step 5. Getting your home loan formally approved

Before formally exchanging contracts, it is wise to have your home loan formally approved. HSBC can help you through the application process and let you know exactly what supporting information is required (this will vary for each application). A valuation of your property and Lenders Mortgage Insurance approval may be required. A fully completed loan application form and complete, up-to-date supporting documents can assist you with a faster approval turnaround time.

Use the Borrowing Power Calculator to give you an approximate guide to how much you can borrow.

Use the Supporting Documents Checklist to give you a guide of what information may be required to allow your application to be assessed.

Step 6. Reviewing your Loan Agreement

If your loan is formally approved, HSBC will send you a Loan Agreement to read, sign and return. Again, HSBC recommends that you seek independent legal advice when reviewing your Loan Agreement. If you need any terms explained, call us or discuss with your conveyancer or solicitor.

Step 7. Liaising with your conveyancer or solicitor

Once your contracts are returned, HSBC will liaise with you or your nominated conveyancer or solicitor to finalise the ‘settlement’ of your property purchase. We will let you know exactly what funds are required to complete the purchase by the agreed date. Try to allow several weeks between having your loan approved and settlement taking place.

Step 8. Settlement and congratulations!

For property purchases, your conveyancer or solicitor will usually handle the final settlement with HSBC. You will receive details confirming settlement in writing in several days. Congratulations - the keys are now yours and it’s time to move into or seek tenants for your new property!

HSBC will provide you with a Home Loan User Guide to give you more details on how to manage your loan after settlement.

Home Loan Selector Tool

Use our Home Selector tool to find the home loan that's right for you.