Effective 1 July 2019: Base Rate and Fee changes impacting Retail customers

Base Rate increase

The Bank will increase it's base lending rate by 0.25% effective 1 July 2019. This will be the Bank’s first base rate lending increase since 2010. The base rate for Bermuda dollar residential mortgages and consumer loans will increase by 0.25% to 3.75%. The Bank’s Commercial Bermuda dollar base rate will not increase at this time. The Bank will be sending letter notifications to impacted clients outlining their new payment amount in advance of the change.

Variable mortgage

Variable mortgage rates
Type Loan to Value (LTV)1 Maximum Term Repayment Total rate
Premier Up to 80% loan to value2 30 years Principal and interest 5.99%
Advance Up to 80% loan to value2
30 years Principal and interest
6.25%
Personal Up to 80% loan to value2
30 years Principal and interest
6.50%
Variable mortgage rates
Type Premier
Loan to Value (LTV)1 Up to 80% loan to value2
Maximum Term 30 years
Repayment Principal and interest
Total rate 5.99%
Type Advance
Loan to Value (LTV)1 Up to 80% loan to value2
Maximum Term 30 years
Repayment Principal and interest
Total rate 6.25%
Type Personal
Loan to Value (LTV)1 Up to 80% loan to value2
Maximum Term 30 years
Repayment Principal and interest
Total rate 6.50%

Home equity loan

Home Equity Loan Variable Rates
 
Home equity Maximum term Repayment Total rate
Loan 30 years Principal and interest 5.75%
Home Equity Loan Variable Rates
 
Home equity Loan
Maximum term 30 years
Repayment Principal and interest
Total rate 5.75%

Family Springboard Mortgage Variable Rates

For details associated with Fixed Rate please book an appointment with an HSBC Personal banker at 299-5959 or contact your relationship manager today.

Variable Mortgage
LTV Total Rate
Premier 95% - 100% 6.49%
Premier
85% - 94.99%
6.24%
Premier
84.9%
5.99%
Advance 95% - 100% 6.75%
Advance 85% - 94.99%
6.50%
Advance 84.9% 6.25%
Personal 95% - 100%
7.00%
Personal 85% - 94.99%
6.75%
Personal 84.9% 6.5%
Variable Mortgage
Premier
LTV 95% - 100%
Total Rate 6.49%
Variable Mortgage
Premier
LTV 85% - 94.99%
Total Rate 6.24%
Variable Mortgage
Premier
LTV 84.9%
Total Rate 5.99%
Variable Mortgage
Advance
LTV 95% - 100%
Total Rate 6.75%
Variable Mortgage
Advance
LTV 85% - 94.99%
Total Rate 6.50%
Variable Mortgage
Advance
LTV 84.9%
Total Rate 6.25%
Variable Mortgage
Personal
LTV 95% - 100%
Total Rate 7.00%
Variable Mortgage
Personal
LTV 85% - 94.99%
Total Rate 6.75%
Variable Mortgage
Personal
LTV 84.9%
Total Rate 6.5%

Construction loans

Construction loans variable rates
Type Loan to Value (LTV) Maximum Term Repayment Total Rate
Premier

Up to 80%

Loan to Value

30 Years Principal & Interest 6%
Advance

Up to 80%

Loan to Value

30 Years
Principal & Interest
6.25%
Construction loans variable rates
Type Premier
Loan to Value (LTV)

Up to 80%

Loan to Value

Maximum Term 30 Years
Repayment Principal & Interest
Total Rate 6%
Type Advance
Loan to Value (LTV)

Up to 80%

Loan to Value

Maximum Term 30 Years
Repayment Principal & Interest
Total Rate 6.25%

 

1This represents the percentage of the property price you want to borrow, e.g. a $100,000 property with an $80,000 mortgage would be a 80% LTV. Typically, you will need to have 20% of the purchase price available as a down payment for your home. However, be sure to speak with us and we will be able to assist with determining your down payment requirements based on your personal circumstances.

2Mortgage rates may vary – for details please make an appointment with an HSBC Personal Banker at 299-5959 or contact your Relationship Manager today.

3After the initial Five Year Fixed Period the Mortgage will revert to a variable term.

*A change to the Bank’s variable interest rate will affect the Borrower’s monthly repayment amount under this Facility, which the Bank shall notify the Borrower of via letter as well as by displaying the new variable interest rate in its branches or by electronic means such as its public website at www.hsbc.bm.

Fixed rate mortgage

We offer a low 5 year fixed rate mortgage that will lock in your rate and payments over a 5 year period. Locking in your rate gives you the peace of mind that no matter what happens your payments will not change for the next five years.  For details please make an appointment with an HSBC Personal Banker at 299-5959 or contact your Relationship Manager today.

What you should know before you apply

  • HSBC Bermuda's current BMD base rate for personal banking customers is 3.50%
  • All rates are subject to change without notice
  • Preferential mortgage and loan rates may apply - come and see us

Related products

 

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Disclaimer

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. The Site is primarily intended for those who access it from within Bermuda. Because of this, we cannot guarantee that the Site or the information thereon complies with law or regulation of other countries, or is appropriate for use, in other places. You are wholly responsible for use of the Site by any person using your computer and you must ensure that any such person complies with these Terms. The information provided on this Site is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to law or regulation. This Site should not be considered as communicating any invitation or inducement to engage in banking of investment activity or any offer to buy or sell any securities or other instruments outside Bermuda.