HSBC has announced plans to close its retail banking business in Australia. As part of this process, HSBC has entered into an agreement to sell its home loan and personal loan portfolio.
Subject to regulatory approval, Pepper Money is expected to begin managing and servicing these loans during the first half of 2027.
There is no immediate action required from HSBC home loan customers. However, if you would prefer to explore refinancing rather than have your loan transferred, Resilend can help you review your available refinance options.
What will happen to HSBC home loans?
Until the transfer takes place, HSBC will continue to own, manage and service affected loans under the relevant existing terms and conditions.
At the time of transfer:
- Pepper Money will begin managing and servicing the loans.
- Existing interest rates, fees, discounts and repayment arrangements will transfer to Pepper Money.
- Customers will not be charged a fee for the transfer.
- Some terms and conditions may be updated to reflect regulatory requirements and differences in Pepper Money’s processes.
- HSBC and Pepper Money will provide customers with further information before the transfer.
Normal changes permitted under existing loan agreements may still occur before the transfer. For example, HSBC may change a variable interest rate if the official cash rate changes.
Can HSBC customers opt out?
HSBC states that customers cannot opt out of the transfer while continuing to hold their existing loan.
Customers who do not want their loan transferred can choose to refinance or pay out the loan before the transfer takes place.
Considering refinancing your HSBC home loan?
If you would like to understand your alternatives before the proposed transfer, contact Resilend to discuss your refinance options.
A refinance review can help you compare the option of retaining your loan until it transfers with other lending options that may be available to you.
Contact Resilend today to start the conversation.
This summary is based on information published by HSBC on 31 July 2026. The proposed loan transfer is subject to regulatory approval. This content provides general information only and does not constitute financial or tax advice. Lending criteria, terms and conditions, fees and charges may apply to any refinance application.