HSBC Bank (Singapore) has announced the launch of HSBC International Mortgage, its first overseas mortgage solution.
It will initially be offered to customers looking to finance residential property investments in Australia before being rolled out to other markets.
The service will initially offer a choice of currency denomination in either Australian or Singaporian dollars.
Singapore and its people are among the most internationally oriented in the world and this extends to overseas investment."
Customers will be accorded HSBC Premier status in Singapore once they take up this international mortgage solution with the bank. HSBC Premier status is recognised in all markets where a customer banks with HSBC. They will also gain access to relationship manager support via HSBC's Premier International Centres in the region.
HSBC's global retail banking platform, Global View and Global Transfer, offers customers a holistic view and management of their accounts including their overseas home loan across 65 markets or territories.
Ranojoy Dutta, head of retail products, HSBC Bank (Singapore) shared: "Singapore and its people are among the most internationally oriented in the world and this extends to overseas investment. We went with Australia as the first market for this solution given the close affinity that Singaporeans have for the country on the back of their business, education, holiday or familial ties. We're similarly seeing this reflected in our customers' interest so we're really responding to this growing momentum."