Buy your dream home today with a little help from your family

Our Family Springboard Mortgage allows first-time home buyers the ability to purchase their dream home with little or no down payment, so long as their family or loved ones can provide additional security for the down payment shortfall.

Come talk to us.

Call +1 441 299 5959 to arrange an appointment

Are you eligible?

To be eligible for the Family Springboard Mortgage you must:

  • Be 18 years old or older 
  • Purchase property must be located within Bermuda
  • Must be a first-time home buyer 

*Must not already own a property or have an outstanding mortgage with HSBC or any other entity

The HSBC Family Springboard Mortgage

Borrow up to 100% of the value of your new home.

  • Your family member provides the security for your mortgage by offering collateral equal to or up to to 20% of the property purchase price (required down payment).

Security can be either cash or property.

  • Family members are able to provide security in the form of either cash or property (property must be located in Bermuda)
  • Investments are not eligible to be used as security.
  • The maximum cash or collateral value that can be provided by a family member is $500,000.

Your family member's security can be released after 5 years.

Guarantors will earn interest on their cash while your property is being secured.

  • Your family member must put cash security in an account held with HSBC Bermuda.
  • Cash security is eligible for credit interest (hold your cash in an interest bearing account such as the Quarterly Bonus Saver Account)

Make unlimited overpayments without penalty.

  • Successful applicants will be able to make unlimited overpayments without penalty or giving notice period whilst the additional security is held.

*Applies to variable rates only

Lock in your interest rate by opting for the 5 year Fixed Rate.

  • Lock in your rate and payments over a 5 year period by opting for the 5 year fixed rate.
  • Locking in your rate gives you the peace of mind that no matter what happens your payments will not change for the next 5 years.

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.