State Custodians

Heartless – We, very strongly, would not recommend State Custodians to anyone. After our dealing with them they proved to be heartless, show no compassion and care about no one but themselves. We had an Interest Only Loan with them for better cash flow when starting our business. Like most people during Covid we ploughed a lot of money into the business to… Read more

keep it going during this very stressful and difficult time. After Covid and just starting to get back on our feet our Interest Only Loan period was coming to an end. As we ploughed most of our saving into the business we decided it was better to keep the Interest Only Loan going. So we applied to State Custodians for an extension. Well even though we never missed a payment or seek any arrangement on payments during Covid and we only owed on the loan 31% of the total value of the house. So regardless of what happened they were never going to lose. But State Custodians would not help out. Regardless of the approach or for how long we asked for the extension it was a NO.. What made it even harder was seeing all the adverts from other Financial Companies offering support and help.. Never ever again..

Unresponsive – State Custodians used to run a good business so I will provide 2 stars instead of 1. I have tried multiple times to email and call but cannot seem to get any response. Pretty disappointing since once upon a time they were responsive, competitive and easily accessible. Show details

nice simple trustworthy bank – Have had a few mortgages and really always like working with these guys. Competitive and actually helpful! I should never have left, but I was tempted buy a cashback offer which ended up only serving me well for 2 years, then went to ridiculous higher fees. Id recommend sticking with cheap, simple, no tricks mortgage - like these guys offer. Show details ·  1

Great customer service and streamlined process – It has been a great pleasure to collaborate with State Custodians again. Maryam has been great to liaise with making the refinancing process seamless. State Custodians definitely have competitive products. Show details ·  1

Such a pleasure to deal with! – We have been going through the process to refinance with State Custodians from CUA. I never thought I'd say this about a financial institution, but wow the customer service and response times are top notch! Maryam has been our go-to representative and has ensured the process was as smooth as possible, even though CUA tried to make it difficult. At this point, couldn't recommend these guys more highly! Show details ·  1

Unconscionable conduct – I've been a customer for 7 years. I chose State Custodians because they had, at that time, a solid reputation for looking after their customers. And they did....until they opened their sister company Homeloans.com.au and ceased accepting new customers at their State Custodians branded company. The State custodians I signed with were incredible.… Read more

When I would contact to discuss a rate review, there would invariably be a generous 0.25% gifted. Until it wasn't. As interest rates continue to rise, the rate review is now 0.1%. I recently requested a rate review and had my interest rate decreased by 0.1 on 16th May 2023. Where once someone would answer the phone, now the phone rings out. It's impossible to speak to a human. This month when the RBA raised interest rates by 0.25, State Custodians raised my rate by 0.35, cancelling out their so-called rate review. This is not the first time. In the 12 rate increases since RBA commenced raining interest rates, State Custodians have 5 times raised their rate above that recommended by the RBA:

2.14 to 2.74 - 0.60 2.74 to 3.24 - 0.50 3.24 to 3.74 - 0.50 3.74 to 4.39 - 0.65 4.39 to 4.79 - 0.51 5.69 to 6.04 - 0.35

Fortunately, I maintained a spreadsheet of each increase, so I can easily track these through my statements. My current interest rate is now 6.04%. It has risen a total of 4.15% in a year. Homeloans.com.au are offering 5.79%. Let me clear a few things up in case you consider this a bad review from a bad customer. I pay direct debit each week and was paying an additional $231.00 per week to put me in front. My LVR is 40.8%. I'm in steady employment and have a spotless credit rating. In a time of economic uncertainty, State Custodians are pushing their customers to the edge in acts of unconscionable conduct. I'm now in dialogue with another organisation for a new home loan. Although I loathe the thought of moving and starting my loan over again with someone else, there is no choice. My loyalty will not be rewarded by any loyalty from State Custodians.

Discharge - customer service – We have been waiting for someone to call us from state custodians since the 31/3/23 and each time we call we are told they will escalate our concerns and get someone to call us back no one has called us.

Treat the loyal customer so badly – I've been with State Custodian for 10 years (since 2013). I was getting a 0.5% loyalty interest reduction after being with them for 5 years when I first sign with them many years ago. My current owner-occupied variable rates sit at 5.39% (including the 0.5% loyalty interest rate reduction), which is still 0.10% higher than their published rate of… Read more

5.29% at https://homeloans.com.au/ - effectively 0.60% higher than their published rate exclude loyalty interest rate reduction. What a joke!!!! That's how they treat the loyal customer with them, stay away if you can find a better deal.

High interest rates and only increase never decrease – Had an investment loan for 7 years. When RBA decreased rates during that time State custodians did not. During the recent rate cycle I get a text saying the rates will increase the day after the RBA raise them. Currently rates are at a ridiculous 6.70%. Show details

Beware – Non lender bank that offers a loyalty rate you are wrong. They somehow keep forgetting, and you have to remind them, then they tell you, no we don't do that anymore. Calls never answered whilst your money is tied with them in an offset account and need the funds for, they lock you out of your account. Our Christmas was very stressful as a result.… Read more

I lost a lot of sleep, no one answered the phones, no one called back I thought this non lender had gone bust. 4 days no one answered the phone then when they did they were from another dept. Had a penalty notice given to our family when the bank had taken out double, yes double the mortgage amount, yet get a penalty??? Had been with this bank for years and get treated like this then get given a 6.01 % interest rate when the major banks are lower??? This is a non lender as well if you have an offset account with them, be careful, you can be locked out for no reason and then have no funds because the hotline does not answer and neither does their email. Staff hang up on you which I found rude. Non lenders can go bust and your offset can be lost as they are not regulated. Was good until the last 3 years.

Shocking Customer Service – Nearly impossible to get through to customer service line. Each time (about ten so far) representative couldn't answer my questions but said someone would get back to me soon. Marked query as urgent each time. Of course never received a return call. Impossible to get any response from company. Show details

Never call you back – Seriously don't use state custodians! I called them a week ago. Waited for 40 mins on the phone and only got a lady telling me she was not allowed to access the system. All the other people who are allowed to access the system were busy so she was only told to take down numbers and they would call me back. Haven't heard from them since then. High… Read more

rates with no proper customer service. Only send you letters to tell you your rate is rising. Just send me the papers so that I can switch to other loan providers.

Worst customer service – I will give them ZERO star if this web site allows this. I have a home loan with them, after fix term was ended, I asked them to consolidate my home loan, but their system kept transferring my fund from offset account to the consolidated portion(should be gone by now), I sent them email, also raised a request in their new… Read more

system(loanaccess.com.au), but what I only got was a reply saying they would investigate this, after more than 1 week, as no any update at all, so I called them, waiting about 40 minutes, an India girl (although I have no proof, it seems their call centre is oversea, and they could not solve any issue) just told me they would call me -- that's totally wasting of my time. So take the risk -- if everything is fine, then you're lucky, otherwise, their customer service is totally rubbish.

Customer Service has vaporized – On the 1/11/2022 emailed (discharge authority for home loan). No word from them, so used their platform to ask why they had not contacted me, nor acknowledged me or finalised my request on the 17/11/2022. The receipt states that someone will contact me back in a short 48hrs plus scenario. Did not hear anything from them until the 30/11/2022. In… Read more

which their message finally acknowledged my request. That is 13 days later, in which they reset my request changing the date from the 17/11/2022 to the 30/11/22, as if I had just sent the request. Their reply message states that they are experiencing high levels of requests and that they will get back in touch with me, at a later date. I had paid out my home loan and wanted to finalise the matter with State Custodians. From the 1/11/2022 to today (2/12/2022), absolutely nothing has happened. So all the people below my review are telling you people something. Hope you all got the message. Anything back from them at this point will be just an excuse and a true reflection of the customer service at this time.

No Customer Service – I have had a home loan with State Custodians (Resimac) for about 8 years and originally their customer service was great. However in recent times THERE IS NO CUSTOMER SERVICE. If you try to call them, you will endlessly be on their frustrating phone system on hold with annoying music and constant reminders to stay on the line and that they are… Read more

taking lots of calls, BUT THEY WILL NOT ANSWER THE CALL no matter how long you wait. Even if you send an email, you will receive the generic automated response, but nothing further.

Great whilst they attract your business but not there for you when you need to speak to them.

Stay away from these scammers !!!!

Customer Service is pathetic , avoid this loan company – Had a home loan for 7 years with State Custodians . Rung remediation line 3 times last 3 days as I am entitled to redund for incorrect discharge fees . Goes straight to messsage bank. Then rang Call centre on 13 72 62 hold for 1 hour , then phone hangs up on me. Will never take a Home loan with them ever again. Avoid at all costs

Shocking customer service avoid! – Incredibly dissatisfied and frustrated, I’ve spent over 3 1/2 hours waiting for an answer on the phone, numerous emails and cannot believe the total lack of service, trying to log on to the new site won’t accept password or security questions when asked, all I want is an ability to get into the account online. Had a text message saying emailed… Read more

instructions to reset, never received! Cannot believe that I recommended this company to family members and they moved mortgage! Obviously that was a mistake Shocking

LoanAccess web site is a disaster - rejects Regular or One Off Extra Loan Payments – The LoanAccess web site/platform is a disaster. Not only is the GUI "simplistically terrible" but it doesn't functionally work. It has rejected our regular weekly extra payments since it began and also rejects "one off" extra payments. We are stuck with not being able to pay down our "home loan" and we can't pre pay the monthly interest charges… Read more

which now pass onto our remaining principal.

Up until this change to the LoanAccess platform we have never had a problem.

We have sent numerous emails over the last two weeks and have been left "on-hold" for over an hour twice.

Cannot be contacted via phone, email or online request, at all – I have been on hold on their 13 number for over 4hrs 20 mins trying to get my account reset in the 'new' online platform. I have zero access to my accounts, have answered secret questions to reset however not recognised so locked out. Have phoned, emailed and sent online requests for help. No response from anyone. How can a bank be uncontactable,… Read more

isn't there a regulation that covers this? What do they expect you to do, stay on hold for hours a day and not get answered? Unbelievably horrendous lack of professionalism and absence of service. Can't say service is bad, I haven't had any and can't get any.

Try to avoid at all cost! – Dodgiest small lender of the year! They asked my internet banking log in details and requesting recoding loan consent over the phone. Refused their unusual loan process so withdrew the loan application half way through and found out from next lender that advised me SC end up lodge my loan inquiry got declined instead. Show details

Very poor customer service – I’ve been trying to contact SC via email and phone to receive discharge form for few days now without any success. Minus zero customer service.

Old tech and high interest rates – I moved to State Custodians around ten years ago because my old home loan provider was charging me rates significantly higher than it was charging new customers. I'm now in exactly the same situation with State Custodians. I was lured in with low interest rates - but now am overpaying. The other problem with them is that their website was… Read more

already outdated when I joined over ten years ago. Now it's practically jurassic. They don't have two factor authentication. Their login is appalling. And they have no app. Who doesn't have an app these days?

Their customer service is appalling too. I've been sitting in a queue now for over 40 minutes, and I'm not convinced it's actually going to get answered. They say their opening hours are 8:30 to 5pm - and its' not 5:05. Luckily I've been able to use this time waiting in the queue to write this review as I listen to the same song - yes, they only have one - for about the 20th time.

AVOID STATE CUSTODIANS. Not worth the hassle – Previously rang to ask a few questions regarding my loan. Have been stuck on hold for over 1 hour now. Would like to know why I am paying a Variable interest rate of 4.2% and new customers are only paying 2.6%. How does that work? Is there no respect to existing customers? Customer service department is useless if you cant get through. Also… Read more

left a message to call me. Its been a week with no reply. I will be switching lenders asap and would not recommend State Custodians to anyone unless you want poor service , no communication and to be ripped off.

No app access to check your home loan, only browser very difficult to understand the structure of loan.

Meanwhile the RBA increases interest rates of 0.5% and State Custodians decides to increase by 0.6%. Further ripping into customers that are struggling as it is.

Please do not deal with State Custodians or homeloans.com.au for that matter as both are under Resimac.

Poor service. Pathetic online experience – I have had a home loan with State Custodians for almost 2 years. It is a budget lender, which means you cannot see anyone in person - there are no branches. Everything is online or via phone. That is all ok - until you need to do something out of the scope of normal. Just a simple act of ordering a new debit card is an issue for this lender. … Read more

Their online banking is archaic and confusing, with limited functionality. You cant send secure emails to them via your login, you cant order a card, you cant transfer to specific people, you cant Bpay your bills..... you can ONLY do the basics. Besides the horrendous online banking, you will have trouble contacting them as well. Several times I have been forced to call, only to be on hold for over 45 minutes - upon which time I give up. You can send an email to their customer care section, but the reply will come at least 3 days later - sometimes 7 - just to tell you to call. That is my experience. I DO NOT recommend State Custodians. Update - As of late 2022 they have updated their online user interface, and it is far better to use than previously. However it still falls behind some of its competitors

Rate review - we have heard nothing after asking – My husband took out an investment loan (P&I) in November 2019. Within one year the RBA decreased the interest rate. He was told to qualify for a rate reduction he needed to be a customer for over 12 months. Now 2.5 years later he has asked for someone to contact him via email, phone, and all he has heard is nothing. By phone, he was on hold for… Read more

40+ minutes 4-6 weeks ago then transferred to the department (rate review) that would manage this and waited 90+ minutes with no one answering. Have heard absolutely nothing - totally dissatisfied and about to pull our loan and go with a more competitive rate.

This is a bad look! – So...Resimac (ASX:RMC) have decided to cease new loan business for State Custodians. Meanwhile, as others have posted Homeloans.com.au have been started to get the new loan market leaving existing State Custodian customers to wither on the line as a cash cow for the greater business. Really these warnings should be placed where Homeloans.com.au… Read more

customers would read as they will be unaware of the ethical embarrassment they are signing up to.

To be caught up in what I consider an immoral business decision is disappointing. As the loser it’s frustrating.

This decision goes beyond the usual “funding costs” explanation. It’s segmentation and profit maximisation.