HSBC Home Loans

Great customer experience – I had a great experience using HSBC to get our first home loan for a new off-the-plan apartment. Our local home loan consultant in the Chatswood branch made everything easy and always made time for us along the journey. Also the interest rate was the most competitive at the time. Show details

North Sydney Home Loan Team – I would like to thank Liz Yu & Richard So for their help to switch my loan to fixed rate. They are very helpful and the transfer was smooth. I highly recommended the team from North Sydney branch if you need a home loan. Show details

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… Read more

(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) -. Not much branch (I don’t need branch - everything online)

As per normal refinance process are always complicated and it can be simple if you have all documents well prepared. I am well organised person so only took me 1 full day to prepare and gather all documents required.

Slow to pass on RBA rate cut. Initially communicated that the August 25 rate cut (.25) would be effective from the 25th August. Received the following correspondence "We'd like to inform you that we have recently reviewed the interest rate on your home loan and made the changes to the HSBC Home Loan rate on the 25th August 2025" "This repayment change will happen on or after 21 September 2025" Pretty disappointed. :( Show details

I have 3 loans with HSBC (refinance away soon) with less than 60% LVR. I tried to get new loan with HSBC & provided payslip & rental statement & when didn’t get response back I email & call & left messages but didn’t get response back. Send another email & got reply later on (1 month) they stating “am very sorry for my late reply, I have… Read more

overlooked your email due to being reassigned to support other team this month, and my workload became overwhelming”

Selling my unit and the buyer used hsbc for his mortgage. It went unconditional after 2 weeks then 2 weeks later we got to settlement day and they then extended the settlement for a week, a week later they extended it for another 3 days. It’s now the 3rd settlement day and I’ve been informed that they want the contract amended to include the… Read more

buyers middle name. I doubt it will settle today. What gross incompetence and poor service. The buyer stands to lose his deposit of $47000 if I terminate the contract and I’m going to lose the home I wanted to buy as the sellers are so frustrated with these delays. Do not use HSBC, they are really a nightmare for everyone.

I have never experienced such a frustrating and infuriating ordeal as I have with HSBC. Their complete disregard for customers and blatant breaches of Australian banking and financial services regulations have left me shocked and disillusioned. This bank’s incompetence and negligence are off the charts, and my experience has been nothing short of… Read more

a nightmare.

Despite raising multiple concerns, HSBC has continuously attempted to cover up their wrongdoings. They’ve shown a shocking lack of accountability and transparency, consistently failing to address serious issues that I’ve brought to their attention. Every time I’ve attempted to resolve the situation, I’ve been met with delays, incorrect information, and a complete lack of follow-through.

To add insult to injury, I’ve had to lodge four separate complaints with AFCA just to try and get something resembling a resolution. This speaks volumes about HSBC’s inability to handle issues internally and their complete negligence in following proper procedures. The time I’ve wasted trying to get answers and the stress this has caused is inexcusable.

I cannot trust this bank, and I would highly caution anyone considering doing business with HSBC. Their customer service is abysmal, their practices are deeply unethical, and they are completely indifferent to the regulations that are supposed to protect customers. Don’t expect any meaningful assistance, and be prepared for a long, arduous process if you ever need them to address their mistakes. The only way to get anything resolved is to involve external bodies like AFCA, which should not be necessary in a professional and customer-focused institution.

I strongly advise avoiding HSBC at all costs.

0 customer service and staff lacking technical knowledge – If i could have given 0. i would have, very disgusting service, spoke with personal lending regarding a top up, they confirmed my burrowing power and wasted around 2 months, the valuation was done and they asked for many documents and at the end they said my burrowing power is not there. Please do not go with HSBC.

It's a trap. Don't do it! – If I can give zero stars I would. Avoid Lendi, HSBC and their lawyers at all costs! We made the mistake of thinking 'it can't be that bad' after seeing other people's low reviews. We naively thought if we were the diligent ones and kept them on track, everything will be alright. Big regret. They entice you with their 5.99% low fixed rate but hit… Read more

you with incompetent people who just don't take their jobs seriously and can't do maths resulting in us constant fact checking calculations, projections and correcting documents for them. Same as many of the negative reviews - when you first ask for a quote, they are all over you, several team members call daily to check in and offer you their services! As soon as we decided to sign up, it's like magic all the services and attention disappeared. Refinance process took forever 5 weeks for us and this is with us constantly hammering them. We have seen reviews where other people copped it even worse and longer delays than us. We made very sure we were diligent with quickly responding to their queries, ensuring we completed loan application documents and uploaded supporting documents within 24hrs requested, sometimes even within just an hour of a request coming through. There was a period of 4 days where HSBC's SMS MFA authentication didn't work and we couldn't access their online portal to review or upload documents. The document upload process was very clunky and requests would come through in a piecemeal fashion every few days rather than providing us a checklist of items to go back and collate material. We were never provided any timelines or explanations of what the phases of the application would be or who each contact point will be as it progressed to different teams. It all just happened in a rather slow and disjointed fashion. After uploading and signing documents in the first week of the month, realised they don't review the docs until last few days before intended settlement schedule for end of the month, then found out from our previous lender that HSBC-end only booked the settlement date on the morning of settlement itself despite telling us everything was all good leading up to it. Mind you, this is after daily emails and phone calls following up on tasks (even we felt annoyed at ourselves for being that crazy) but it ended up us doing the full case management rather than them. Wasn't even sure why we got the brokers in the first place and for them to be paid $2k+ commission at the end of it all is ludacris. Their disorganisation and lack of communication caused us to miss settlement, had to pay extra interests and fees to our original lender. Then when post-settlement comes around, post-settlement docs show increased amount of repayment than originally agreed and signed for in the application process. We requested for weekly repayments and they kept saying it's the same as monthly repayment because interest is calculated monthly. Financially savvy people will know the weekly v monthly trap, and 4 weeks/month trap (make sure you double check your weekly repayments are based on 52 weeks per year or 4.33 weeks per month - NOT 4 Weeks per month!!!). We all know interest is calculated daily but only taken out of account once a month. After calling to clarify and actually running them through the maths and logic of it all, they reluctantly raised a complaints ticket to escalate a 'negotiation' to fix the repayment amount. As at the time of this review, that has not yet resolved!!! We checked with ASIC and other big 4 banks and they all calculate weekly repayments at 4.33 weeks per month which brings a lower repayment amount whereas when HSBC does it at 4 weeks/month it forces you to pay more. Just terrible service, really really really regret going with them. Save yourself the headache, anxiety and money and go with someone else!!! Even if the interest is a bit higher, you don't have to deal with these lying and disconnected bunch of morons. When raising issues or complaints, they just divert and say it's not their fault. Complaint to Lendi, they tell U call HSBC. Complaint to HSBC they tell you call Lendi. Their legal people won't speak to you citing they must be instructed by HSBC but then they don't manage the case properly resulting in delays, extra time lost and unnecessary costs. Very broken process full of issues. I hope all these bad experiences by many other users warrants deep investigations by ASIC and ACCC!!!

Incompetent and appalling service – Avoid at all costs!! This business had me on the verge of a nervous breakdown. Extremely incompetent and customer service is appalling. Took 5 weeks to get a simple letter to say I closed my account. I was put on hold for over 6 hours in total and sent multiple emails. No response or was hung up on. I was promised cash back and never received… Read more

it. They closed my account before everything was settled and therefore I couldn’t make any more queries as I didn’t have an account!! I’m still waiting for over 3k in extra payment I made on loan including the money they debited after loan had been finalised. Wouldn’t wish the experience I had on anyone. Has given me anxiety

Worst bank I have ever used – Terrible customer service. Slow process. no accountability. The employee emailed me a rate for two properties, which we then discussed on the phone. Provided all the docs and when signing they had a higher rate on the docs. Would not offer the rate sent originally. Settlement booked for Nov 15th and they took 2 months to finalise settlement with… Read more

the previous bank meaning I payed interest to both banks for the full amount. Ended up costing thousands in double interest payment. 3 failed settlement attempts with the previous bank during this period which they cant and havent provided an explanation for. I continually had to ring to confirm new settlement dates and they wouldnt return calls or respond to emails. Offered to pay me back one weeks interest to compensate. I am currently going through AFCA for reimbursement of the additional interest payments.

Do not use HSBC!! – Worst bank to deal with Delayed our refinancing due to incompetence and blamed every other party and now delayed the sale of our property… even though I checked a week before settlement that everything is ok and our client officer said yes all good. Day of settlement .. they haven’t signed off on pexa and my relationship officer cannot be reached because she’s in meeting all day !!!

Without argument the worst bank and customer service – Everything said in the previous reviews are accurate and probably a little conservative. You will absolutely regret doing business with HSBC. Do not be tempted by their cashback offer.. it is absolutely overrated and its the only way this bank is able to attract new customers. I was advised that it would take 5 - 7 days to refinance to HSBC from… Read more

Bank of Sydney. It took nearly 5 months and that was with me chasing them up every week. When the application was finally approved by HSBC the interest rate had gone up considerably and was no longer competitive. You can expect 20+ mins on hold if you intend to speak to customer service. You can expect absolutely 0 call backs if they promise to call you back. You can expect emails sent to your " HSBC relationship manager" to be responded to once a week or completely ignored altogether.

When you do finally have enough and decide to refinance then you can expect HSBC to take 4 weeks just to discharge your mortgage. This is a step that takes a week or 2 max with other banks.

Lastly if you do decide to go with HSBC be advised they dont have OSKO. This means that funds transferred to and from HSBC will go through a 3 -5 day holding period by HSBC. They earn interest from your money on hold whilst charging you further interest.

Regreting refinance with HSBC big time – They offering the low fixed rate of 5.49% for 2 years to start with and take so long to get approval that i had to chase them up. By the time i got approval it gone up to 5.99% for 2 years and i was told because i did not pay lock in fee so the rate can still changed. Fair enough i understand that and at end up with 3 year for 5.79%. this time i… Read more

got approval and agreed to process to settlement at 5.79% for 3 year fixed, only to find out after the settlement paperwork showing 6.19% for 3 years. when i questioned HSBC they said the rate changes again before settlement and the rate is not locked until settlement. i was not happy that i was not informed about the changes and was not given opportunity to review rate changes before settlement. submited the complain and then only to get reply that bank can change rate anytime before settlement. now i am stuck with higher rate that what i agreed on for the next 3 years.

Avoid These Morons At All Cost !! – If i could give a -100 , i would love too . I have dealt with all banks over the last 30 yesrs but these incompetent fools are without doubt the most stupid people i have met on the face of the earth . Do not trust these idiots with your money or to manage your home loan - you'll regret it !!!!! Show details

HSBC is nothing but pain – My experience with HSBC (refinancing an existing home loan) is pretty much the same as everyone else that has reviewed them. So far I haven't dealt with HSBC directly at all, only Lendi, the broker. [Name Removed] from Lendi has been fine to deal with, but it's now been over 11 weeks of waiting. (I was told 20 business days). I hope to goodness it… Read more

doesn't take any longer because I need the money...

UPDATE: It's finally all settled at about 3 months from first application. My advice to anyone considering refinancing with HSBC is not to do it unless you really can have your finances frozen for that long. They really do take F. O. R. E. V. E. R.

It took about 150 phone calls to all five different parties (including calling people I wasn't technically meant to, eg direct to the settlement agents) to get this to settle in 3 months. I can only conclude that if I hadn't been so persistent, it would probably have taken 5 to 6 months.

It's too early to really know what HSBC will be like to deal with but probably, the worst part is over.

Be warned!

Horrible Service – I started the process to refinance my house with HSBC 2 months ago and it took almost a month for them to even review and start on my application. The process has been an absolute nightmare and after requesting the same document in different ways 100 times, they finally responded to state that with the documents I had provided, they were unable to… Read more

progress with with the application. After enquiring what the issue was, all they said is the email is clear enough. It's not only the loan manager but even the branch manager doesn't care. Absolutely dodged a bullet here and will never ever deal with HSBC again. LVR was below 60%.

Start at a low rate and increase on everything – I started at a low rate then the rate went up. I saw a rate at Mortgage choice much below the rate I was receiving. I sent them a photo of this and my request to match this was declined. My annual package fee was also doubled due to a technicality. I am getting out of HSBC as soon as I can

Appalling Service – UPDATE 10th June Both Lendi and HSBC contacted me to assure me that complaints are taken seriously and they value the customer. Statements not backed by real action. Matter still unresolved over 3.5 weeks later, promises to contact me etc not kept. However their performance in not resolving the matter and provided the worst customer experience… Read more

ever is very consistent.

For anyone looking to refinance, AVOID Lendi and HSBC. Both provide absolutely appalling service. After taking months to have the transaction completed, the interest rate applied was much higher. After raising the issue with both Lendi and HSBC, both incompetent organisations requested that I provide them with documentation issued by them. Having done that, the matter still remains unresolved weeks later. Maybe flooding every social media platform naming and shaming these two organisations might help resolve the matter quicker. You would think providing them with documentation issued by them showing the agreed rate would be simple to resolve - unfortunately, that doesn't appear to be the case

ZERO STARS – This mortgage lender is run by imbeciles!! Waiting for over 5 months since initial refinance application for investment properties on a lower %-rate and still HSBC cannot organise offset accounts, property valuations and even getting the correct contact numbers.

Want a loan? This is a bank best to be avoided – I have been a long term customer of HSBC Home Loans. They have an excellent product called an Equity Credit Loan. They didn't invent it though. They bought the business from a bank that had a great reputation and great service, and so I became an HSBC customer by default. As long as I didn't have to deal with HSBC administration, the online… Read more

banking and the operation of my equity credit facility was terrific. No complaints there at all. But when I did something like asking for a loan increase, or a loan decrease, or, heaven forbid, a mortgage discharge after paying off a loan, dealing with administration was absolutely painful and hence the single star (because you can't say zero). Two years ago I'd paid off a loan for one property and wanted the mortgage discharged. At that time I was a premier customer and had my own loan manager. And yet the process was tedious, poor communications and very slow. I had to send stern emails to try to find out what was happening. Early this year I was advised that loan managers were replaced by a Loans Team for better customer service. Well ...... customer service is worse. I'm currently trying to get my final mortgage discharged after paying off the loan. Even stern emails aren't working to get them to tell me how my last mortgage discharge is going. After this, my relationship with HSBC Loans will have ended. I'm going back to one of the Big 4 banks.

Almost 2 weeks no call back after new loan enquiry – Made an online application/enquiry received email stating will be in contact in 2 business days. Recieved email week later and replied with available times to speak, 5 days later still waiting no response Show details

Feels like it’s 1995 – Terrible customer service Lack of branches means u are stuck on phone , they won’t help promise to call you back and don’t The one time I drove to branch they gave me incorrect information which led to me paying loan twice & spending 2 hrs on phone in branch I would pay the extra interest rate % just to go to one of the big 4 banks that have branches everywhere , will actually help & return calls Show details

Stressful process – HSBC offers attractive interest rate, fit-fall process is very tedious though you're premium customer. The property valuation will come 50-150k less compare to other banks ( including 4M banks) property range from 500k to 1M. I'm am existing premium customer but treated very poorly. Ask for more & unnecessary documents over and above the industry… Read more

practice. Even after provided the document response is very very slow. I recommend to go to any other local hassle free banks.

Unprofessional - loan discharged but still show in credit check – Refinanced to another back because of the high interest rate in HSBC. The process was tedious it took months - HSBC and new bank keep blaming each other for delay and the settlement took 4 months with 3 failed settlement attempts. They blame that on Covid ok let's just say that was Covid. However, after 15 months now when I'm going to buy… Read more

another property I found out the HSBC loan still show on credit check even though that loan does not exist anymore. The mistake made by HSBC has caused me a lot of effort and 1 month time to get my credit check fixed, and I wasn't able to buy that property I really want.

Horrible experience (zero star) – They always ask for some more documents! They claim to be an international bank and ask for some documents that none of Australian banks asks for! After two months of back and force, I withdraw my refinance application. Never approach them for a home loan. Show details

Regretting refinancing – I refinanced with HSBC from Westpac last month and the entire process was such a pain. I normally don't write reviews at all but I was so frustrated with dealing with them I even called up their customer service just to complain about my relationship manager. Long story short, in line with what others are saying HSBC required more documents than… Read more

other banks and their systems are pretty old school and wasn't very user friendly considering its 2021.

What frustrated me the most is HSBC has a proprietary process called Fast refinance. I warn you not to opt into this as it is convoluted, misleading and the HSBC employees themselves can't explain it properly. This bank baits you in with lower rates and cashback offers but like everything in life, came with a cost.

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 Show details

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… Read more

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 we are hiding with them with any outstanding loan / debt. Have clarified it by sending it screenshot of Centrelink/ATO letters but still no response from HSBC. Just to let you know that i have clean credit history since day 1 and have been paying my mortgage on time with other banks and lender since last 4 years. This is just recent when i feel i should look for refinance with HSBC considering the low rate they offered, but turned out to be a big mistake to go with HSBC for refinancing.

Very slow and burocratic – Very very slow..I had to withdraw my application.. absolute time wasters!! Show details