Build a life in the luxury of your dream home

As an HSBC Premier customer we offer you Home Loans for the following purposes:

• to buy a new apartment or a completed property
• construct a house on your own land
• purchase an apartment under construction
• purchase land as an investment

Read on to find out more about these Home Loan facilities.

Buying a new apartment or a completed property?

When you are buying a new apartment or a completed property, speak to your Relationship Manager to start with the right advice to get the loan that works for you. HSBC Premier Home Loans are the ideal way to start financing your dream home.

Key Features:

Please note that the loan type described above shall be subject to the general terms and conditions applicable to HSBC Home Loans

Constructing a house on your own land?

When you are buying a new apartment or a completed property, speak to your Relationship Manager to start with the right advice to get the loan that works for you. HSBC Premier Home Loans are the ideal way to start financing your dream home.

Key Features:

Please note that the loan type described above shall be subject to the general terms and conditions applicable to HSBC Home Loans

Purchasing an apartment under construction?

When you are buying a new apartment or a completed property, speak to your Relationship Manager to start with the right advice to get the loan that works for you. HSBC Premier Home Loans are the ideal way to start financing your dream home.

Key Features:

Please note that the loan type described above shall be subject to the general terms and conditions applicable to HSBC Home Loans

Purchasing land as an investment?

When you are buying a new apartment or a completed property, speak to your Relationship Manager to start with the right advice to get the loan that works for you. HSBC Premier Home Loans are the ideal way to start financing your dream home.

Key Features:

Please note that the loan type described above shall be subject to the general terms and conditions applicable to HSBC Home Loans

Pre-payment flexibility
The monthly instalment amounts can be increased at your request, provided that the increased instalment applies for the remainder of the loan (continuing until the loan is repaid in full) and that your total monthly expenses (increased instalment, cost of repaying other loans and living expenses) are not more than 85% of your net income per month.

Early re-payment/part re-payment
Early re-payment/part re-payment of the total loan is allowed. For loans on the quarterly or annual fixed rate the settlement fees are waived off. For loans on a 5-year fixed interest rate a settlement fee of 5% of the outstanding or the pre-payment amount will be charged to cover the Bank's cost in breaking the fixed interest rate.

Freedom of applying jointly
Freedom to apply jointly with your spouse, provided both parties earn a monthly fixed income.

Eligibility criteria for an HSBC Premier Home Loan

• Be between 18 and 55 years of age
• Be a Sri Lankan national who wishes to construct a home or buy land/property situated within close proximity to our branch network
• Be employed in an established company
• Be confirmed in current employment
• Be earning a net remuneration (net salary + fixed allowances) of LKR100,000* and able to meet the repayment commitment after deducting the living expenses

*In the event of a joint application, 100% of your spouse's income will be taken for income assessment.

What else is required?

• Copy of NIC or Passport
• Most current salary slip authorised by the company
• Letter from your employer confirming the employee's particulars � as per the application specimen
• Statements of bank account(s) to which the salary was remitted during at the last 3 months
• Duly completed HSBC Premier Home Loan application

Safeguard your home when mortgage re-payments cannot be made
It is important that you secure your home in the event of an unfortunate incident causing, partial or permanent disability to the borrower(s) of an HSBC Premier Home Loan. That's when the exclusive single premium loan protection policy through a Decreasing Temporary Assurance (DTA), equivalent to the loan outstanding value, offered by selected insurance companies will help.
In the case of death or total permanent disability due to sickness or accident, we will settle the mortgage utilising the proceeds from the insurance company, keeping your home where it belongs � in your family.

Interested in an HSBC Premier Home Loan?
All you need to do is complete the HSBC Premier Home Loan application form and return it to the nearest HSBC branch. We will confirm your eligibility within five working days.

To apply please visit a Branch or call us on 4 4722 72. Make HSBC Premier Home Loans the wisest way to own your dream home.

Tariffs
Interest rates
Quarterly floating, annual fixed and 5 year fixed interest rates are available. Rates will be reviewed at the end of the respective tenors and would be changed in line with the prevailing market rates. Rates will be tiered based on LTV (Loan to value) at the time of the initial approval of your housing loan.

LTV less than 60% - 1% Discount
LTV between 60% and 70% - 0.5% Discount
LTV between 70% and 75% - Standard Rate

Set up Fees
Minimum of LKR12,500 or 0.25% of the loan value up to a maximum of LKR50,000.

Legal Fees
Up to 0.75% of the value of the mortgage bond + taxes
Up to 0.50% of the value of the transfer deed + taxes
Disbursement fee up to LKR7,500

Stamp Duty
0.1% of the value of the mortgage bond 4% of the value of the transfer deed

Valuation Fee
0.1% of value of the property and travelling expenses

Annually Renewable Insurance Policy
The Fire Insurance Policy will be arranged through the Bank for the insurable value as indicated in the valuation report. Thereafter, the policy will be reviewed every three years as per the re-valuation report. Please note that the fire insurance premium will be debited to your account on a pro-rated basis for the first year, and annually thereafter, since the Bank maintains master policies with insurance companies.

Decreasing Temporary Assurance (DTA)
A single premium DTA to be obtained, which is subject to the age and health of the Insured.

Early Settlement Fee
No fees will be charged for loans on quarterly or annual fixed rates. For loans on 5 year fixed rates, a settlement fee of 5% of the outstanding balance or the pre-payment amount will be charged.