7 August 2020

HSBC Australia partners with home loan aggregator Astute

HSBC Australia has signed a distribution agreement with home loan aggregator, Astute, and extended its two-year fixed rate home loan of 2.09% p.a2. for owner occupiers paying principal and interest due to a surge in customer demand for the product.

  • HSBC expands its mortgage broker network by taking on a fifth partner, Astute.
  • New technological enhancements introduced to simplify broker experience during the COVID-19 pandemic.
  • Customer demand leads to an extension of HSBC’s two-year fixed rate home loan offer of 2.09% p.a2 (comparison 2.98% p.a1.)

From today, customers will be able to access HSBC’s comprehensive range of basic and fully featured home loans through Astute’s network of financial professionals.

Alice Del Vecchio, Head of Distribution for Wealth and Personal Banking at HSBC Australia said: “Our domestic mortgage book has grown 14 per cent* over the past 12 months, and the addition of Astute will extend our reach even further by building on our existing broker partnerships and national network of 40 branches.

“While the softening property market and economic outlook are creating uncertainty for many Australians, demand for our home loans remains buoyant as more customers seek the repayment certainty that a fixed rate offers.

“In fact, over the past four months we’ve seen an almost 60 per cent increase in fixed rate home loans as borrowers readjusted their finances during the pandemic.”

HSBC has also launched a number of digital enhancements to simplify the broker experience over the past four months, introducing virtual interviews and facial recognition on identity verification to expedite the approval of home loans while maintaining social distancing.

“We’ve always used electronic ID verification on home loan applications. We’ve now introduced facial recognition software to allow customers to verify their ID with a quick selfie video and scan of their license or passport without having to visit their broker in person, go into the branch or a post office.

“We’re making further investments to strengthen the support and services we offer to brokers and our customers alike and hope to announce more innovations later this year,” said Ms Del Vecchio.


  1. The comparison rate is based on a secured loan of $150,000 over the term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
  2. Excludes LVR above 80%. Available on borrowings from $50,000, apply by 31 August 2020, settle by 31 October 2020. Interest rate is current as at 20 July 2020 and is subject to change. Maximum loan amount is $15,000,000. Terms, conditions, and HSBC lending criteria applies. Credit provided by HSBC Bank Australia Limited ABN 48 006 434 162. Australian Credit Licence/AFSL 232595.

*The Australian Prudential Regulation Authority (APRA), Monthly Authorised Deposit-taking Insitution Statistics, June 2020.

Media enquiries:

Ashleigh Baines
T: +61 2 9255 2385
M: +61 466 939 408
Email: ashleigh.baines@hsbc.com.au