Home loans

HSBC BM
Mortgages
Home Loans

Home Equity Loan

Term from 1 to 30 years
Borrow up to 80% of the equity built in your home
Conveniently separated from your mortgage
Variable interest rates

A Home Equity Loan enables you to use the equity in your property to borrow funds for home renovations or other major purchases.

How to apply for a Home Equity Loan

A Home Equity Loan is suitable if you want to borrow a specific amount for a particular purpose, over $30,000 BMD, with the comfort of regular monthly payments.

What you will need when applying:

valid ID for each person applying (passport, Bermuda driver's licence)
proof of current address (BELCO bill, cable bill)
proof of income earnings for each applicant and proof of employment letter
if self-employed/business owner - past 12 months of payroll tax returns or 2 year financial statements
copy of rental agreement and statements if rental income is not direct deposited to HSBC
latest pay stubs, normally the previous three months
details of the property you are buying
real estate agent's and lawyer's details

Construction Loan

Term up to 30 years
Variable interest rates
Interest-only payments while under construction, usually up to 1 year

With a Construction Loan we can help you construct your new house, build additions to your home or make major home improvements.

How to apply for a Construction Loan

Appraisal required before and on completion of construction
You will need 10% of project costs plus 5% for cost overruns before applying
During construction, the bank will visit your site to assess the progress of your project(s)

What you will need when applying:

copy of approved plans
3 quotes from reputable contractors
cost estimate/quantity survey from qualified surveyor
agreement/contract to verify drawdowns

How to apply for a home loan

See how much you can afford

Our mortgages are designed with your needs in mind. Use this calculator to see how much your monthly payment will be.

Use our mortgage calculator

Contact us

Make an appointment by calling us today on +1 441 299 5959.

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This product and service is offered only in the jurisdiction of Bermuda by HSBC Bank Bermuda Limited and the material presented is not intended for use by persons located in or resident in other jurisdictions.

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Disclosure

Issued by HSBC Bank Bermuda Limited, of 37 Front Street, Hamilton Bermuda, which is licensed to conduct Banking and Investment Business by the Bermuda Monetary Authority

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