Ongoing Deal Discussion

[HSBC] HSBC 5yr Variable: 0.99%, 1.29%, 1.34%, starting TODAY (Dec 4th)

  • Last Updated:
  • Jan 18th, 2021 1:02 am
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[OP]
Newbie
Aug 4, 2020
25 posts
74 upvotes

[HSBC] HSBC 5yr Variable: 0.99%, 1.29%, 1.34%, starting TODAY (Dec 4th)

Retailer:
HSBC
More offers from HSBC
Saw this, not sure if it is true. I am in the market, so will confirm tomorrow. Right now I am approved for 1.49% 4yr fixed + $3k + a few other fee reimbursements through a bank. I have a theory why this bank is so aggressive this time - I have heard from ppl that there was a shuffling at the top in their Personal / Small Business segment as they were losing significant market share to others for having bad rates.

[update 1] Seems this is confirmed for the Dec 4th launch. I am waiting to hear back from the Premier person I deal with. Will share the contact once I get more details. I don’t think HSBC has 3rd party brokers.

[update 2] from HSBC: for new customers only (no existing mortgage with HSBC), 25 year amortization (+0.1% for 30 yr), cash back $1k, yes HELOC. Asking if my contact is okay for me to share.

[update 3] [...]

[update 4] Please refer to tigger03‘s post on Page 5 for additional info on 5yr fixed rate offerings from HSBC. Please refer to Vg19’s post on Page 11 for low ratio staff rates. Please refer to KarthikA40261’s post on Page 13 for a smart way to reduce your penalty - thanks!

[update 5] Well the post is finally unlocked. If you are struggling with what to pick for a low ratio mortgage, look at below and make your own assumption on year 4/5 rates. If you are looking for a high ratio / low $$ mortgage, go nuts on 0.99%. The rate will stay low until we see inflation - my best guess is 2024/25. If you are low ratio and qualified for higher cash back + other incentives, then think hard between the 3 offers (4yr fixed vs 5yr fixed vs 5yr variable). You can get more than $1000 if they want your business enough.
Comparison.PNG
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Last edited by Kompany on Dec 8th, 2020 11:15 pm, edited 20 times in total.
527 replies
Member
Jun 1, 2008
309 posts
249 upvotes
London
Where are you getting this info, And can you provide more details?
Member
Feb 23, 2010
242 posts
332 upvotes
Vancouver
I can confirm this is true. I received same offer from my HSBC broker
Newbie
Aug 12, 2018
47 posts
23 upvotes
Sigh only if I wasn't laid off :( forced to renew with RBC
Jr. Member
Nov 20, 2009
105 posts
16 upvotes
Any details? What's the minimum to get this rate? Looking to switch
Newbie
Nov 30, 2017
95 posts
98 upvotes
humble_kid wrote: I can confirm this is true. I received same offer from my HSBC broker
Can you share his contact?

I am in the market for a new purchase. Got approved for 1.30% from a monoline. 0.99% would be great.
Last edited by droolondeal on Dec 3rd, 2020 9:55 pm, edited 1 time in total.
Sr. Member
User avatar
May 17, 2012
542 posts
389 upvotes
Montreal
This is insane. I renewed @ 1.70% 2 months ago thinking that was a great deal...
Deal Addict
Oct 26, 2010
3169 posts
5313 upvotes
Hmu with 0.99% fixed 5 year and I’ll give up my PS5
Koodo, Fido, Telus, Public Mobile, Virgin customer.
Newbie
Dec 4, 2016
10 posts
75 upvotes
humble_kid wrote: I can confirm this is true. I received same offer from my HSBC broker
Yes, can you please private message his/her contact?
Deal Addict
Mar 22, 2010
2944 posts
843 upvotes
can anyone confirm this deal actually exists?
Sr. Member
Mar 16, 2018
740 posts
840 upvotes
Hamilton
I presume this is only through the broker channel and not available if I walk into the HSBC next door?
Deal Addict
Dec 27, 2011
2246 posts
1850 upvotes
Vancouver
so.... I have a 3.2% 5 year I am 3 years into.... should I be getting out and re-signing? I am pretty dumb with this stuff...
Deal Addict
Dec 10, 2007
1075 posts
316 upvotes
Toronto
I'm breaking out of my current mortgage and going into a new one closing next week. I'm going to ask my advisor on this, worth asking. 0.99% is CRAAAAAAAZY and even 1.34%. I'm going into 1.63% 5 year variable currently
Deal Fanatic
User avatar
Oct 8, 2006
5485 posts
518 upvotes
Toronto
Damn I'm 1.34 already, but didn't think they would even go as low as that
Newbie
Jan 4, 2016
10 posts
10 upvotes
Toronto, ON
Damm I think it’s definitely time I take action... we locked in a 5yr fixed at 3.09% early March right before everything started tanking. Our current penalty is something crazy like $35k but I still think it might be worth breaking for these crazy low rates, does anyone disagree?
Also OP did you take that photo with a potato?
Deal Addict
User avatar
Aug 7, 2007
3636 posts
1839 upvotes
GTA
Wow I’m 1.21% but 0.99% is unreal

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