HSBC offers mortgages in Japan with no maximum lending limit
HSBC, one of the world’s largest banking and financial services organisations, will offer two mortgage products as part of its new HSBC Premier service that will be launched in Japan on 31 January 2008. HSBC Smart Mortgage and HSBC Smart Investment Mortgage, available to all HSBC Premier customers, come with no maximum lending limit1.
Both mortgage products will offer customers the ability to link their mortgage interest payments to the balance of their HSBC Premier savings account in the form of a deposit-linked loan, what is known as a balance-offset mortgage.
Using this option, the rate of interest is calculated based on the difference between the total balance of the customers’ yen and/or multi-currency saving deposits2 and the outstanding loan balance. — www.theasianbanker.com (January 29 2008)–