You don't have to purchase fire insurance from HSBC, but you are certainly required to have one to cover the cost of rebuilding or repayment to the bank in the event such incident happens... HSBC has to look for someone to recover their $$ in such event, so it is a must to have it..

Some mortgage package, especially for new home buyers, does not allow one to start the repayment immediately. It has a clause to say monthly installment only starts when loan is fully disbursed. So, are you buying new house and has the loan been fully disbursed? If it is, then there is no reason why you cannot start the installment immediately. Do go through your loan agreement thoroughly to avoid makan by these legal loan sharks.

then.. i would certain visit the branch where you apply the loan or call HSBC rightaway.... serving just the interests is like feeding the sharks...can't be right.

fire insurance, is all gone and 'burnt', like your car insurance.

i wud say just pay 2K since it has already been fully drawndown...you have the rights to start serving the principal immediately.

Is your HSBC agent a direct agent(working under HSBC) or those mortgage broker?

i had HSBC home loan before (many years ago, probably back in 2002 or so) , their deduction detail was clearly laid out in the statement ie .how much is the interets how much is for the principal...).. But then i agree, their loan package is never an attractive one that's why it was my first home loan banker and my last one - mainly due to unattractive package and nothing else.