Can’t complaints compare to big 4 banks
The whole refinance process/application is very clear and customer relation manager assigned is very professional. Very up to date and responsive. All completed by online, no need to go to branch at all.
Pros with HSBC:
-. Good customer relation manager assigned to complete whole process.
-. Competitive interest rates.
-. Banking apps easy to use (have all features I need it)
-. Refinance process from assigned case manager till completed only 3 weeks.
Cons with HSBC:
-. No pay id yet but have OSKO (receiving payment only)...
Worst bank waste of time
I did apply to refinance my loan. They made me cancel credit cards and it took for ever to declined the loan because the unit is too small. Absolutely waste of time
Worst Customer services for home loans refinancing
Customer experience was worst, misleading i feel like i have been cheated.
Relationship Manager confirmed me in first place that loan application and supporting documents look good with no issues to come for loan approval
i told him clearly that please do not run my credit check, if you see any issue with my application and documents provided to them.
They run a credit check on me and then credit officer start delaying our loan approval, with keep asking me same question why my employer is deducting more tax on my salary, start doubting me if w...
the home loan process does ask for a lot of documents but to be fair I am organized so it took me less than 30 min to pull everything together. Just the usual bank statement, bills, payslips, etc. Caroline Bi has been fantastic I forgot how lovely it is to deal with polite, professional organised people. Looking forward to having a bank to talk to again.
Conservative bank with competitive home loan pricing
HSBC loan approval process is a bit protracted, they do ask for more documents than other banks and they do sometime asks somewhat silly follow-up credit verification questions. However our relationship manager was top notch, with timely communication and follow-ups. HSBC is not one of those banks that will throw credit at anything that moves (hint: royal commission), they are conservative, aka old fashioned bank in a good sense when it comes to credit checks. And I'd rather have it that way.
Home Loan Application
Ive been a long standing banking customer with HSBC for almost 20 years now and have always found thier customer service great so when they started advertising thier home loan packages with a competitive interest rate I applied for a refinance. I spoke with a home loan specialist at HSBC, was advised based on preliminary information provided i qualified, sent through all required documents and paperwork and never heard back from the loan specialist despite my follow up calls and emails.
Lose interest on refinance
I did refinance in HSBC, it's the worst decesion I made. I spent a lot of time on it as they asked for more than double documents than the normal bank and made me signed 3 times. They told me to transfer the balance on my offset account to the home loan account at the same day of refinance. I did it and found they didn't transfer it to my HSBC account. I had to wait as it was the public holiday and tried to get the balance back to the offset account, then transferred it to my HSBC account myself. It spent more than one week, I had to bear my in...terests losing and a lot of time wasted. The banker didn't know what she should do at all and didn't reply me after my refinance was done. They even took deposit to make me push the previous bank to complete the refinance process, this is the worest serveice I met.
Total waste of time
My dealing with this bank is comparable to banging my head in a brick wall. I can't tell if ots just my loan manager or the bank itself but it's taken over two months to adjust my payment to for nightly payments.
Bank promote very atrractive rate but deliver very poor service by asking 100 different documents on several occasions taking very long time to approve. Mine was a refinance from commbank( even though rate was bit high with commbank , I now think I made a mistake by refinancing).
Hsbc even made me to cancel my credit card to get required loan amount. But considering the lower rate I thought its worth to go through little pain for lower rate advantage and finally one month after apprval and transferring my loan to hsbc, all of a sudden Hsbc increased the rate.this is nothing but cheating.
Poor experience and we regret our refinance
After some comparisons, we chose to refinance with HSBC as they had the best rates and provided us with facilities which we wanted, namely fee-free offset (or akin to) and redraws.
We were promised that the low rate of 3.59% (which was valid only for a certain period) was not an introductory rate.
We understand that we signed up to a variable rate loan, but definitely did not expect a letter in the mail barely a month later advising a 0.1% rate hike - when the Reserve Bank has kept the rate as is.
We can’t help but feel deceived.
Terrible. they gave 3.75% in late 2017 and exactly one year after increased rate to 3.85 while they advertise their new home loan rates are as low as 3.7%. Don't trust if they explain unless if there is no change in RBA rates they wont change your rates ..etc
Very competitive if you ignore customer service part.
As I can see most reviews are from frustrated customers. But my experience was great with this mortgage. Great discount on interest, no application fee, No annual fee and a little discharge fee. What else do you want dumb people ? Just be a bit patient with initial procedure and your savings will go a long way.
I had to spend my day off going to the HSBC in Melbourne, wasting 2 hours of my time and get nothing
I had to spend my day off going to the HSBC in Melbourne, wasting 2 hours of my time and get nothing out of it!
Met [name removed] on Collin Street branch to do my refinance, fill up the docs, and at the end of the day, nothing, NOT even a follow up, Not even feedback, he just disappeared, thanks for wasting my time and my credit score!
Worst customer experience ever
We got a home loan from HSBC a few years ago and With every enquiry, as simple as rate change based on market, we have got a different relationship manager. I feel like a ping pong ball getting passed one from one person to another repeating myself over and over again and nothing gets done without 20 email followups.
Won't recommend them to anyone!
No contact, no effort, stress central!
HSBC are the worst! Don't expect to have approval within a reasonable time. Poorest service I have ever received, constantly chasing up my 'Premier Relationship Manager' and then I find out he is on holiday on my finance approval date!!! Complete incompetence from him and the credit team there. AVOID!!!
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