Had a really positive experience with State Custodian in refinancing my loans. The process was fast and effective from application, approval to settlement. Tony really understood my situation and I felt like I was in good hands throughout the whole process. Definitely would recommend them.
stuffed up at settlement and did not want to deal with it
They stuffed up at settlement time and Cora from Settlements did not want to handle it, as it was Gadens that handle settlements for State. Nectaria from Gadens refused to talk with me and Sophie Sheather, her manger tried to cover up for her and was evasive in answering my questions. Only, when I kept asking more questions, she had to come clean. Disappointed in how Sate Custodians handle complaints and did not want to take ownership of the situation.
Seamless online application process
Hannah is obliging and very well informed resulting in a no-nonsense application process. The attention paid to keeping us informed during every step of the process instilled confidence in us that we were in good hands and the rates are very competitive. If State Custodians after sales service is this good we will certainly be back for more.
Great service and quick response
I'd like to thank Tony and the team for excellent service through the whole process of my home loan application, approval and settlement. They were quick, effective and I always knew where we stood. Based off my experience I can highly recommend them.
Unwilling to Negotiate - Exploitation of Loyal Customers
It is with great disappointment that after 7 years loyalty with State custodians, the interest rates being charged on my two loans with them are no longer competitive. One loan has a split component with the P&I portion being 0.17% higher than that for new users, whilst the IO portion being 0.31% higher than for new customers. My rates are also meant to include a 0.2% customer loyalty reduction. Obviously without this reduction they would be exploiting me even more for being an existing customer. My second investment IO loan is 0.8% higher than...the rate advertised for new customers. Both my loans have a $299 annual fee associated with them. This is something new customers do not have to pay. After contacting the customer support centre, I was informed that SC were unwilling to reduce my rates at all. A call ensued with the SC rep stating they may consider undertaking a manual review if I present then with the rates offered by a different lender. He point-blankly refused to do a manual review on the rates offered by SC. Needless to say, if I am getting rates from an alternative lender, I am not going to try to stay with SC. I am being left with either paying $4500 a year more to stay with SC or seeking a new relationship with a lender that values its clients. Hardly surprising which option I am going to take.
Arrogant or ignorant?
State Custodians is one of those things that looked good from the outside, but not really when you looked deeper inside. I checked them out, submitted my application and followed it up after almost 1 month of no news and kept getting told "we would contact you back". When I told them "you have missed me many times", I was met with a reply "oh everyone is busy here". It's been 2 months, guess what? Surprise! Still no news!
Stay away. You've been warned.
- Verified customer
RBA rate cut still not passed after over a week
Very disappointed, RBA cut the rate over a week ago and it is still not passed to customers.
This is despite that most lenders have passed the cut in full.
Look at which ones did it before getting a loan with State Custodians.
Advertised rates for new borrowers only, subsidised by existing customers
The advertised rates are great, but over time the rate you actually get drifts upwards while the advertised rate stays low. Nowhere did they mention the low rates offered were merely 'honeymoon' rates.
Two days after the latest RBA rate cut the State Custodians website still only has a vague "we are reviewing, we will let you know of any changes" message. I am not expecting to see much of a rate cut, if any. But I'll bet the advertised rate goes down!
OMG - So stressful to go through the formal approval process with State Custodians. I received pre-approval online as well as from the Lending Specialist a couple of days later after submitting the form. 10 days later I am still waiting for the formal approval document. The lending specialst is helpful but not the credit team. They keep coming back for more information every second day rather asking for it at once .... My settlement is in 10 days. God Help Me. I have submitted everything they have asked for and am still waiting....waiting and waiting....helplessly. Wished they could have told me from the start.
Be prepared for the long..........approval process if you decide to go with State Custodians
- Verified customer
From day 1 the customer service assisted me all the way until settlement. Everything has smoothly processed through emails/phone calls. Great service and highly recommended!
It's been a year now and quite happy with the home loan rate :-)
Appalling customer service
Absolutely appalling customer service.Lending department are quick to respond but once they have you no one bothers. Took 6 months and numerous phone calls and emails to vary security for our loan. They have never returned my certificate of title for the original security property and now more numerous calls to get it back. No one ever calls back or sends a confirmation email even when they promise to. No one seems to know what is going on. Most inefficient company ever.
Don’t waste your time.terrible customer service.very unreliable.
I was given pre approval after I went through lots of personal questions.
I produced documented proves of my finacal status,affordability,great credit report.everything good as they requested.
After that I was asked for more documents and private information.again I was told everything was fine.
Then they kept me waiting long time for an answer.when I called several times the person in charge of my application was always avoiding me saying he was not available .
Then I managed to speak to him because he didn’t know it was me on the phone.
Excellent Service from State Custodian Product Review team and the Retention team
After the settlement of my Loan, In a previous review I have given 5 star to State Custodian for their Loan Initiation and onboarding process.
However, I was unhappy with the Loan Maintenance Customer Service team mainly how they changed the interest rate and their denial to act with my request. I already started searching for a lender.
When I have reported the details of my grievance through Product Review, the online service team was very prompt to answer my queries and refer my case to the Retention team which offered a solution for my problem and eventually retained me as a customer.
Needless to say, I am happy to give another 5 star review for the State Custodian Product Review team and the Retention team.
- Verified customer
The customer service is real
I guess my story is like everyone elses - we have a home loan through a bank (one of the 'big four'), the interest rate is not as competitive as it could be, and the service is terrible but apparently accepted as a sign of the times (royal commission, anyone?).
I was looking for a good online lender that could offer a low interest rate in exchange for a no frills loan package, something simple where we can just focus on saving and paying off the loan as quickly as possible. State Custodians came up through my searches and I to...uched base through I believe their online form on the website. Within a day I had an email back and after a few days of discussions and considering our options, we decided to go ahead with State Custodians. We next heard from their representatives and received (via email) the paperwork we needed to sign and return. The paperwork felt very excessive (90+ pages!) and there was a lot of 'legalese' involved, which put us on the back foot immediately - we were a little bit suspicious (or perhaps sensibly cautious). However, unlike at my bank, the customer service at State Custodians is absolutely incredible. A real breath of fresh air. They continually touched base with us, answered all our questions, even sat on the phone for an hour to review and discuss all the paperwork with us to make things as easy as possible. It's honestly the service that has made a real difference - the interest rate is good, don't get me wrong, but State Custodians makes us feel like valued clients instead of just another number.
Smooth process and really helpful team
Great customer service from day 1 until settlement. The State Custodians team has always been answering our questions promptly and very clearly.
Very happy with the rate so far. Keep up with the good job.
Professional & Efficient!
Great customer service - very professional and efficient. Easy to communicate / get in touch with unlike other online lenders. Good with following up on the process and assisted when required. Happy with the rate - very competitive. Highly recommend this company.
This is wonderful. I have achieved my dream home.
The customer service l received throughout the whole process was outstanding. It was positive, informative and friendly. Nothing was too much trouble.
I didn't experience any unexpected costs.
I am happy with my rate. Very competitive. The lowest l could have hoped for.
Dodged a bullet,I guess....
I have never taken out a loan before and truth be told, I don't know much about the process or the details involved.So when I rang State custodians looking for a pre-approval for a home loan,I expected to be guided through the process. Instead I was met with a not-so-helpful loan specialist who instead of helping me out,ridiculed me. That I could sense from her tone. Safe to say,she didn't have a good telephone manner.
Then it took me ages to figure out how to put in an application for a pre-approval on their not-so-user friendly website. Wh...en I finally did,I was promptly rejected. I must have made some mistakes with regards the declarations in the applications but instead of helping me correct them,I was just turned down. By comparison,U-bank's application for pre-approval process took me only 5 minutes. Their loan specialist then called and after a chat,approved me for a good sized loan. I have been approved for loan by other banks too,given that my credit rating and other aspects are quite good.But not by state custodians. But now, I firmly think that I dodged a bullet. If their pre-sales customer service is rubbish,I shudder to think how their post sales customer service might be.
Easy Loan Refinance
From start to finish i had help refinancing my home loan with State Custodians. All the contracts and forms that i needed to fill out where explained to me in full and i was helped every step along the way. The customer service was above and beyond what i experienced from my last bank and I'm glad i made the switch. I would definitely recommend to other people.
Very happy that we went with State Custodians.
Best thing is that they were very quick to respond to any questions we had.
Would definitely recommend their services..
Questions & Answers
What is the discharge cost if leaving/distachargin a state custodians variable rate home loan of $250,000 please?
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
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
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.
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.
The team at State Custodians
ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.