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State Custodians
AntGreater Melbourne (Metropolitan), VIC
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 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.
1 comment
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Jo.Perth, WA
- Verified customer
State custodians does not value loyal customers
On 4 March 2020, the RBA reduced the cash rate by 0.25 and this was duly passed on. But they refused to pass on to variable rate customers the reduction done by RBA of 0.25 on 20/03/20 and 0.15 on 4/11/20. This is a total of 0.4 not passed on to variable interest rate customers. Instead they are offering us to fix our loans like it is a better option in the current situation. We all live in the same world that has financial issues for the moment. Be fair in your dealings and kindly pass on the savings to your variable interest rate customers. That is the whole idea of a variable rate to move with the trend of the RBA.
1 comment
Customer Feedback T.State Custodians
Hi Jo,
Thanks for your feedback.... Read more
We appreciate that you’re disappointed about our recent interest rates decision and understand your concerns. I wanted to clarify the relationship between the RBA cash rate and our interest rates. Our interest rates reflect our funding costs, which are independent of the RBA cash rate. That said, some of the factors that impact the RBA cash rate also impact our interest rates, which is why there is sometimes a correlation between the two. For the last two cash rate reductions, market conditions were such that our funding costs had not changed sufficiently to warrant an interest rate reduction. Although we consider ourselves to be different to other lenders, this was also the case for most home loan lenders in Australia. We are mindful of those who are experiencing financial hardship, and have supported many thousands of customers with payment deferrals to help them through difficult circumstances. If you would like to discuss your loan further with us, you can contact us directly on customercare@homeloans.com.au. Kind regards The team @ State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
Ayush
- 2 reviews
- 1 like
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.
1 comment
Customer Feedback T.State Custodians
Hi Ayush,
Thanks for choosing State Custodians for your home finance needs once again. We're delighted to hear our lending specialists took good care of you and that your refinancing was seamless. We hope to be of assistance again in the future.... Read more
Kind regards, The team at State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
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Shannon K.South East Queensland, QLD
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!
1 comment
Customer Feedback T.State Custodians
Hi Sharon K,
We’re happy to hear you’ve had a great experience with State Custodians. Positive feedback like this reminds us of how proud we are of our skilled Lending Specialist team. Thanks for tak... Read more
ing the time to submit a review – we’re delighted to have you on as a new customer.Similar opinion? Write a review on ProductReview.com.au!
EricMetropolitan Adelaide, SA
Great experience, simple process
Justin was great to work with, really made things simple and was easy to get in touch with. The ability to send a text message through and get a response was so convenient I will be taking that idea onto my own business. No unexpected costs, and the interest rate was acceptable for what we were looking for. Took a little longer than expected to get everything sorted but that's also on me.
1 comment
Customer Feedback T.State Custodians
Hi Eric,
Thank you for your comments about working with Justin that we have since shared with him. We are proud of all of our Lending Specialists who aim to make the home loan application process as simple and convenient as possible. ... Read more
We really appreciate the time taken to recount your experience so far with State Custodians. Kind regards, The team at State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
Lorraine
- 3 reviews
Unfair investment loan rates for existing loyal customers
I have just checked on the website that State Custodians has a rate of 2.74% for investment loans only for new customers with a LVR lower than 60%. It is very unfair to existing loyal customers who are paying their instalments on time even in the existing Covid-19 environment and have their loans lower than 60% LVR.
1 comment
Customer Feedback T.State Custodians
Hi Lorraine,
Thank you for your comments and the opportunity to address your concerns. ... Read more
Due to the dynamic nature of how funding is obtained there are times when the rate of an existing loan can differ to the rate for new loans. However, we strive to maintain low rates for all of our customers and would appreciate the opportunity to review your situation. If you could please kindly send an email to feedback@statecustodians.com.au with your name, loan number and contact information, we will take a look at it for you. We look forward to hearing from you. Kind regards, The team at State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
LukeGreater Melbourne (Metropolitan), VIC
Fantastic Customer Service & Communication
Tenille was allocated as my lending specialist and helped me greatly during the loan process. She always kept me in the loop during the application process and nothing was too much trouble for her. I achieved the best possible outcome on my loan including great rate for high LVR and no set up or ongoing fees. I don’t know what I would have done without Tenille and State Custodians. Thank you !
1 comment
Customer Feedback T.State Custodians
Hi Luke,
Thank you for your comments and we’re very happy that we were able to achieve this outcome for you and that this was coupled with excellent service and communication from Tenille throughout ... Read more
to application process. We have passed on your feedback to her.Similar opinion? Write a review on ProductReview.com.au!
Great service again from State Custodians
Refinance top up went fast with excellent service from Sharn. I would recommend them as I already had in the past to my sister who is now with State Custodians.
Great customer service as far as I'm concerned, rate went up by .5% but I can live with that it achieved what I needed it to.
1 comment
Customer Feedback T.State Custodians
Hi Satisfied from Perth WA,
Thank you for your comments and we’re really glad to read about your refinance experience. We’re proud of all the great work our team do and we have passed on your review to Sharn. ... Read more
We really appreciate the time taken to submit this review and look forward to continuing to deliver a high level of customer service. Kind regards, The team at State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
Mel SingletonSouthwest, VIC
Easy and efficient
Maryam has given us such great service. Easy to deal with and nothing was too hard. Made the refinancing process a breeze. thank you for all ur time. Ur hard work didn’t go unnoticed.
1 comment
Customer Feedback T.State Custodians
Hello Mel,
Thank you for your review. It’s very pleasing to read your comments around your experience being easy, receiving great service and the refinance being a breeze as this is what we strive t... Read more
o deliver for every customer. We have passed on your comments to Maryam.Similar opinion? Write a review on ProductReview.com.au!
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Excellent Customer Service
Following several unsuccessful and negative phone interactions with other lenders, I spoke to Tenille from State Custodians. She was professional, informative and helpful as I explained what I required in a home loan. Following our initial phone call, the customer service I received during the application process was exceptional. Tenille was in regular contact and helped me gather everything I needed to successfully acquire the best loan for my family. I am very happy that I chose State Custodians for my home loan and hope that the great service continues throughout the life of the loan.
1 comment
Customer Feedback T.State Custodians
Hi Karina,
Thank you for your comments and it’s very pleasing to read about your experience as this is the level of customer service that we strive to deliver for every customer. It’s great to read t... Read more
hat Tenille was able to provide you with a loan that works for you and your family; we have passed on your feedback to her.Similar opinion? Write a review on ProductReview.com.au!
M ElangovanSouth East Queensland, QLD
Best rates and quick response
I was shopping around for best variable rates on the market and state custodians’ rate of 2.65% is very competitive in market without any monthly or yearly fees.
My experience with them was 100% great. I’d definitely say they were thorough and professional with their processes.
My first step started with an online application which gave me an instant pre-approval subject to document verification. I was then contacted by their lending specialist Hannah M taking me through the details of the entire process and what is expected and the timefram...Read more
es. I had a parallel application with another bank through my mortgage broker who failed to do their duty properly and I had to panic with less than 10 days to go unconditional on my purchase and I was not even on step 1. That is when the lending specialist came to my rescue following up on my application and then when i told my situation, she ensured that my application will get processed on time.1 comment
Customer Feedback T.State Custodians
Hello M Elangovan,
Thank you for your thorough review and recommendation. We are pleased to read about your experience as this is that level that we strive to deliver for every customer. It’s rewardi... Read more
ng to know that Hannah was able to progress your application quickly in order to resolve the issues that you had elsewhere. We look forward to your loan settling and being able to continue delivering a high level of service.Similar opinion? Write a review on ProductReview.com.au!
drsharynwilkinsSydney, NSW
Great rates but slow and painful process
The valuation was terribly slow and settlement was delayed twice due to slow document processing. Mostly good customer service from the call line but one British woman was very rude.
1 comment
Customer Feedback T.State Custodians
Hi Drsharynwilkins,
Thank you for your comments. We’re glad to read that you are happy with your home loan rate, but we’re disappointed that you do not feel you received the high level of customer service that we strive to deliver.... Read more
We understand your frustration with the document processing and the delay in settlement this caused. As is standard across the industry, we use independent third parties to conduct property valuations and while there have been recent changes to processes as a result of the COVID-19 situation, we regret to hear about the delay relating to your application. We will review your experience and continue to work with our property valuers to ensure a consistently high standard of service is delivered. Thank you again for the feedback and we looking forward to exceeding your expectations in the future. Kind regards, The team at State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
AmySydney, NSW
Started off with great offer, but too good to be true at the end
It's difficult to rate, as my case was handled by 4 specialists. Hence rated in the middle with the goods and bads.
Would like to highly recommend "Justin & Tony" for going above and beyond at the end to help me as much as possible in obtaining the final approval in such short amount of time with all the missing info & documents. Hoping other people can start off with the caring experts at State Custodians to manage thru the entire process.
Unfortunately in my case, the foundation was so poorly handled and managed by the initial specialist i...Read more
n the beginning of the process, made it extremely difficult for me to proceed with State Custodians at the end, due to time constraint on an off-the-plan property with the developer and the "way-off/not so ideal" final offer compared to the initial offer. Had my initial enquires and submitted my off-the-plan investment loan application with Sam in Sep-19 to start off with. Was offered 10 years interest only on great rates, with no changes to my current loans, except cutting the 1 out of the 2 credit cards. Since then I have been actively contacting Sam on a monthly basis till late Jan-20 (5 weeks prior to settlement), to ensure the offer was still valid and still able to meet settlement date. However later learnt that Sam left the company, and then learnt more surprises ever since within the weeks of settlement. From disappointing valuation report ($30K down for a 1-bedroom); missing documents on applications that were already provided months ago; to missing investment loan expenses on the initial application, which meant my original loan offer/terms was no where near where it should be with these missing pieces. With these surprises, the final offer ended up: an extra $30K cash out of pocket due to the disappointing valuation (no dispute) + reduction on my current home loan to no redraw ($150K available funds/savings gone) + to cancel all of credit cards + 5 years interest only + late settlement fee charged by the developer + many sleepless nights for weeks.1 comment
Customer Feedback T.State Custodians
Hi Amy,
Thank you for your comments and we are pleased to read that you were happy with the service provided by Justin and Tony. We know that they put in everything they had up against a very short ... Read more
period of time to finalise the application for you. This is the standard that the entire team strives to consistently deliver.Similar opinion? Write a review on ProductReview.com.au!
The reviewer stated that an incentive was offered for this review
pabloGreater Melbourne (Outer), VIC
- 4 reviews
- 1 like
Worst experience I have ever had
Do not go within a bulls roar of this company.
This company is a wholly owned subsidiary off resimac who are just as bad or worse
My ex and I borrowed $321889 from state custodians in approx 2013. In January 2019 my ex and I separated. I am the primary borrower on the account. We had never missed a payment or made a late payment. indeed at separation there was $60,000 plus in the offset account. Due to legal costs this was run down quite quickly. My wife was able to transfer $20,000 into the offset account, repayment of a loan until we could s...Read more
ort out property settlement. She then said it was a mistaken transaction and asked her bank to reverse the payment. Due to legal costs there was only a couple of hundred dollars left in the account. In Oct 2019 State custodians simply reversed the payment without my knowledge or even a phone call leaving the mortgage $19700+ in arrears. The first I knew off it was when I received a letter from a collection agency stating that your mortgage was $19700+ in arrears and plus hefty fees if the arrears are not cleared with 30 days we will be exercising our power of sale. I rang them to find out what was going on they refused to talk to me, the gave me no information were extremely evasive then refused to even talk to me. I was forced to sell share at a loss to cover the arrears. I made a complaint to A.F.C.A but as a result of their evasions and frankly lies the matter has still not been settled. Trust me DO NOT Borrow a penny from this company their customer service is disgusting. EVEN if a broker recommends them DO NOT borrow from this company, there are better companies with cheaper rates available. Plenty of them. Make absolutely no mistake I can not empress upon you enough how toxic this company is.Similar opinion? Write a review on ProductReview.com.au!
Ebi
- 3 reviews
Montly payment
Hi ..I have a question for you guys . My rate droppped to 2.80 last month and when I calculate my monthly repayment on different apps, I get 2424 figure wheras State Custodians is charging me 2440. Does anyone know why ?
Ebi
1 comment
Customer Feedback T.State Custodians
Hi Ebi,
Thank you for your comments and we hope to be able to clear this up for you. ... Read more
Depending on which day each month that your interest is charged, the repayment amount for this month is calculated on a pro-rata basis, considering both the previous interest rate and the new interest rate. The new rate took effect from 26 March, while the interest is charged on the ‘anniversary’ date (for example if your loan settled on the 3rd of January, the interest would be charged on the 3rd of each month). When a full month is charged at the new rate the amount should correspond with your calculation, but we will be happy to review this for you and confirm that the amounts are correct. If you’d like, we can arrange for a customer care representative to get in touch with you and answer this and any other questions you may have. Can you please email your name, best contact number and the email address on your loan to feedback@statecustodians.com.au and we’ll be in touch. We hope to hear from you soon and thank you for the review. Kind regards, The team at State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
Find out how State Custodians compares to other Home Loans
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Jed M D.Sydney, NSW
State Custodians is our preferred Lender
We approached State Custodians for a top up of our existing mortgage. Leo was fantastic, helping us navigate the paperwork and answering all our questions as we moved through the process. His attention to detail and professionalism was exceptional. Totally satisfied with all aspects of our loan.
1 comment
Customer Feedback T.State Custodians
Hi Jed,
Thank you for your comments and we’re very pleased to read about the experience you have had with Leo. We have passed on your feedback to him.... Read more
We really appreciate the time taken to submit this review. Kind regards, The team at State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
Mahmoud A.Metropolitan Adelaide, SA
They never call when they say they will
Terrible customer service, I had to chase them up to process my loan even though they got all needed documents they requested. Called more than 4 times to find out what's happening, everytime I get promised to receive a call back but I never did. I ended up emailing them to cancel my application and I will be going with another lender, yet didn't even reply this email which was a week ago.
1 comment
Customer Feedback T.State Custodians
Hi Mahmoud,
Thank you for getting in touch and we’re disappointed to read your comments as this is not typical of the experience that we aim to deliver.... Read more
It’s unfortunate that we didn’t manage to make contact with you to progress your loan and wish you all the best for the future. Kind regards, The team at State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
David WSydney, NSW
Professional/ prompt service. Thanks.
After having a disappointing (unsuccessful) experience with my local Mortgage Broker I cautiously (I’m a boomer who prefers face to face communication) commenced an online home loan refinance application with State Custodians.
After commencing the online application process I was impressed when I promptly received a phone call (email acknowledgement already received) to discuss my application. Throughout the process I was guided by emails, some after hours & phone calls during working hours. Excellent client relations, thanks Leonardo G.
p.s. the loan / refinance process was prompt & should be completed within the next 10 days.
Happy customer. Thanks all.
David W
1 comment
Customer Feedback T.State Custodians
Hi David,
Thank you for your comments and we’re very happy to read about your experience with Leonardo as this is the service that we strive to deliver. We have passed on your feedback to him.... Read more
We really appreciate the time taken to complete this review and for giving us the opportunity to refinance your loan. Kind regards, The team at State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
sgkumar78Sydney, NSW
- 5 reviews
- 3 likes
- Verified customer
Good rates and seemless process
I approached SC for a new investment loan. My Lending Specialist is Leonardo. The rates were good and process was relatively straight forward and fewer bureaucracy compared to a bank. I commend Leo for providing robust update on the progress. When needed he escalated matters and resolved to my satisfaction. He has been very helpful.
1 comment
Customer Feedback T.State Custodians
Hello Sgkumar78,
Thank you for your comments and were pleased to read about your experience with your new investment loan and with the level of service provided by Leo. We have passed on your feedback to him.... Read more
We really appreciate the time taken to submit this review. Kind regards, The team at State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
Poor performance on every level
I was given a minefield of hoops to go through, delays and excessive red tape to get through which ultimately discourages any success in reducing my interest rate. Very dissatisfied with service on all levels.
1 comment
Customer Feedback T.State Custodians
Hi Terese,
Thanks for passing on your feedback. We are very disappointed to read your comments as this is not reflective of the service that we aim to deliver.... Read more
We would appreciate the opportunity to review your experience if you could send us a private message with your details, or email us directly at feedback@statecustodians.com.au. Kind regards, The team at State CustodiansSimilar opinion? Write a review on ProductReview.com.au!
Questions & Answers
Jackasked
What is the discharge cost if leaving/distachargin a state custodians variable rate home loan of $250,000 please?
No answers
John N.asked
Has anyone had their interest rate increased above what they are offering new client. Eg Mortgage rate now is 2.58%
Anyone paying more than this rate.
let me know
thanks
1 answer
Hi John I would urge you to read my last review about this company. They have admitted that they made an error in reversing a payment my ex partner made and put my mortgage in arrears to the tune of $19,700.00 plus Without notifying myself as the primary borrower. The matter has been with A.F.C.A for over 6 months and both State Custodians and A.F.C.A have delayed, evaded etc etc. If you don't have a loan with them Make Absolutely no mistake. STAY WELL CLEAR.. by the way State Custodians is a wholly owned subsidiary of Resimac. You need only look at the reviews people have posted about Resimac to see who you are/will be dealing with. Plus there are better rates available elsewhere. Hope that Helps. Cheers Paul
Lynetteasked
What is State Custodians LVR on units more than 6 levels in Potts Point in Sydney. Do you lend up to 80% or 70% of the purchase price.
1 answer
Customer Feedback T.State Custodians
Dear Lynette
Thanks for your question. In general we can lend up to 70% LVR on units in metropolitan areas, however with Lender’s Mortgage Insurance we may be able to lend above 70% LVR. Please note that we would need the address of the property to provide a more definitive answer, so please call us on 13 72 62 and one of our Lending Specialists will be able to assist you.
Kind regards
The team at State Custodians
Details
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Customer Feedback T.State Custodians
Hi Ant,
Thanks for voicing your concerns. As a multi-channel distribution business, Resimac Group has several brands that cater to different customer segments. The launch of a new brand does not affe... Read more
ct customers of our other brands – they continue to receive the same level of service and support they have always had over the life of their loan, including regular rate reviews as market conditions change.