Calling all HSBC customers: Home loan now homeless?

Squirrel’s got your back.

We’ve just launched a brand-new offer, exclusive to mortgage customers impacted by HSBC’s plans to exit stage left from the New Zealand retail banking market. 

Work with us to re-home your mortgage with another lender (of your choosing), and we’ll handle your refinance for free*

Our advisers have relationships with more lenders than any other mortgage broker in New Zealand, so you know we’ll get you set up with the deal that’s best (and right) for you.

And with a number of the banks offering sweet cashbacks of up to 1% of your mortgage right now, you could even get a nice little cash boost to help with those higher mortgage costs.

If your HSBC fixed-rate mortgage is due to roll over shortly, book a chat with our team below and we’ll get in touch to get you sorted.

Book a chat

What exactly is happening with HSBC? (The fine print)

The bank has said that while it won't be taking on any new mortgage customers, it will see out its obligations to existing home loan customers. 

Here's what that looks like, depending on when your fixed-rate home loan is due to roll over:

• Before 13th September: they'll give you the option of re-fixing for six months, to ensure you've got enough time to find a refinancing solution elsewhere.
• After 13th September: your mortgage will be put on a floating / variable rate, until you sort a refinance elsewhere. 

More information can be found on the HSBC New Zealand website. 

*Squirrel will cover any refinance costs up to the value of $2000, with any additional costs payable by the customer.

The opinions expressed in this article should not be taken as financial advice, or a recommendation of any financial product. Squirrel shall not be liable or responsible for any information, omissions, or errors present. Any commentary provided are the personal views of the author and are not necessarily representative of the views and opinions of Squirrel. We recommend seeking professional investment and/or mortgage advice before taking any action.

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