Eligibility and Requirements

Am I eligible for International Mortgage (for Australian Property)?

To be eligible, you must have a valid National Registration Identity Card (NRIC) / Passport and reside in Singapore.

You are not eligible to take up the product if you are residing in Australia.

What documents do I need to provide when I apply for International Mortgage?

Please complete HSBC’s Property Loan Application Form (For Australia Property) and enclose the following:

  1. Copy of NRIC/Passport
  2. Employment Pass (for foreigners)
  3. Latest Notice of Assessment
  4. Computerised Payslips (for salaried applicants)
  5. Central Provident Fund (CPF) Contribution History (for Singaporean/Permanent Residents)
  6. Proof of other income or assets (if applicable)
  7. Australian Foreign Investor Review Board (FIRB) approval

Please note that the Bank may request for additional documents, where necessary, at any time during the loan application process.

Are there any Australia regulations that I would need to adhere to?

Where applicable, you are required to obtain approval from FIRB to acquire interest in residential land in Australia.

General

Which cities in Australia can I get financing for?

We finance your choice of residential properties in major metropolitan locations including Sydney, Melbourne, Perth, Brisbane and Adelaide.

Is there any minimum loan amount requirement?

The minimum loan amount we finance is Singapore Dollar (AUD) / Australian Dollar (SGD) 200,000.

What is the maximum loan tenor?

You can take up a loan with maximum tenor of 30 years.

What are the available currency options of the loan?

You can choose between SGD and AUD as the base currency of your  Australian property loan.

What are the home loan packages available for International Mortgage?

Loans denominated in SGD are pegged to 3-months SIBOR. SIBOR refers to Singapore Interbank Offered Rate for Singapore Dollar fixed at 11 a.m Singapore time by the Association of Banks in Singapore (ABS) on the first business day of the calendar month).

Loans denominated in AUD are pegged to 1-month Variable Lending Rate (VLR). VLR is determined by the Bank and takes into consideration various factors including but not limited tocost of borrowing, internal business costs and market conditions.

For more information on the loan packages, please contact our Mortgage Sales Managers.

What are the fees involved in the loan application?

Loan establishment fees of S$/A$ 500 is payable to HSBC upon the acceptance of letter of offer.

Please note that there are also other charges to be borne by you, such as legal fees and valuation fees which are payable to our appointed third parties.

For more details on fees and charges, please refer to the Australian Property Loan Standard Terms and your Facility Letter. Alternatively, you can approach our Mortgage Sales Managers for more information.

Am I required to arrange any insurance for the mortgaged property?

Yes, you are responsible to arrange an appropriate property insurance policy to cover fire and other usual risks. Prior to the disbursement, we would require you to provide evidence that the property insurance (strata title insurance or building insurance noting HSBC as the interested mortgagee/loss-payee) are in place.

Repayment

How can I service my monthly instalments?

You can make payment through the designated HSBC loan servicing account, the monthly instalment amount will be debited from the account on each due date.

To avoid late payments, please maintain sufficient funds in your designated HSBC loan servicing account.

Can I repay my loan (partially or in full) in advance?

Yes, you may make a partial or full repayment of your home loan. Please refer to the facilityletter and the standard terms for the early repayment charges payable.

To do a partial or full repayment, please complete the Mortgage Request Form. As stated in the standard terms, you have to give us at least one month’s written notice for partial repayment, and at least 3 months’ written notice for full repayment.

For more information, please contact our Mortgage Sales Managers.