HSBC hasn't ruled out working with brokers

HSBC has returned to the mortgage advice space in Australia and hasn't ruled out a similar move in New Zealand.

The bank last week announced that it was returning to third party distribution through a partnership with Aussie Home Loans.

It has been out of market for 10 years in Australia.

HSBC currently doesn't distribute its loans through mortgage advisers in New Zealand, but it hasn't ruled out doing so.

"HSBC does not currently use mortgage broker‎s in the New Zealand market, however we would not rule out the possibility of considering doing so in the future," HSBC Head of Communications Jonathan Williams says.

In Australia HSBC's roll-out is similar to what BNZ has done in New Zealand. It has started with one group and says it will look to others. 

HSBC says it has been in discussions with groups other than Aussie Home Loans. It says it will probably have a limited number of groups it would deal with.

HSBC in New Zealand has built up a reputation for offering some of the best rates in the market. For instance it recently ended its 18-month rate of 3.95%. however its Premier product has a number of qualifying criteria including that the customer had to have a loan of at least $500,000 or more than $100,000 on deposit with the bank.

QUESTION: Would you want to see HSBC work with mortgage advisers in New Zealand? Send your thoughts to

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