Great service throughout the whole process
I was surprised how seamless the new loan process was from the lending specialist to the lending support team and how helpful the client services team also were... no mistakes were made and no duplication in conversations were required as the staff I was dealing with were always available. Only constructive feedback is that I hope there is a phone app soon to make life even more easier! Overall a great experience.
Always friendly and happy to help
I have had my home loan with state custodians for a couple of years now. I recently applied for a top up to complete my renovations and they emailed me every step of the way, replied to emails promptly and were happy to explain when I didn’t understand. I would recommend them to anybody considering a home loan.
We received excellent service right from inquiry to settlement of our home loan. Response was prompt, process was easy and clear and much more agile than the big banks. Overall, a great experience.
Janisa was amazing
We had a short settlement time and were worried that we would be able to get everything done on time but Janisa was amazing and not only kept everything moving but also kept us informed and helped expedite the process. Having an email address was invaluable and I couldn't be happier with the service she and Ross provided.
Excellent products and equally great support
I have had an amazing experience, loan products are excellent. They kept me well informed at every step of the application. Great customer support, will definitely recommend them.
Loan approval process was smooth and queries were answered precisely. Thanks Sean and Ross for considering my case and providing support to settle the loan well before settlement date.
Continuous Good Service
Was happy to continue with State Custodians for my Investment property as they also service my primary residence home loan flawlessly. The whole process went through with very little trouble and both Sean and Ross were on hand to guide me through and answer any questions along the way. To add to the great customer service, the rates and fees are also very competitive.
Excellent service and great low rates
Recently refinanced a number of loans to State Custodians. Great team that kept me informed the whole way through the process. Couldn't be happier. Big thanks to Darren and Marcus!
Excellent service and a smooth transaction
I recently refinanced through State Custodians. From the moment I submitted on online enquiry they were proactive in following up with me and their service was excellent. It was easy to speak to the person handling my application and they responded promptly to emails. The transaction ran very smoothly and I cannot remember receiving such excellent service from a financial institution ... ever! I would definitely recommend them.
I have again used State Custodians for my home loans. They are excellent to deal with and everything went to plan with a short settlement period as well.
Would not hesitate to use them again. Very happy. Thanks
Great experience so far!
We've just settled on a house with State Custodians as our lender. They became our lender because of their competitive offering (which matched one of the big four, +an offset account), but largely because of the exceptional customer service offered by one of their senior lending specialists (Elise).
Long story short, we went for a house that needed a level of repair that spooked the LMI company of our initial lender (Bank of Melbourne). Scrambling to get finance within the time available, SC went over and above to help us navigate the proce...ss (e.g. providing information and context beyond lending). We also processed an application with NAB through a broker, and ended up with two lenders to choose from with the same interest rate (3.69%); NAB and SC. While SC had the advantage of an offset account (which was a large factor in the decision), it was the trust/bond formed with their lending specialist which made us WANT to choose SC. Working in marketing, I describe this phenomenon as 'loyalty' - something I often talk about in the boardroom, but rarely observe in myself. I hope this level of service continues throughout our journey with SC. My brother and sister in-law (who are also SC customers) rave about SC, so I'm confident that will be the case.
Good Customer Experience!
Overall had a very positive experience getting a loan through State Custodians. Service was always prompt and all questions were answered throughout the process. Very happy and satisfied with the product!!! Thank you
Bait new customers with low rate and then increase
Got owner Occupied P&I loan at 3.64% in Dec 2017, Interest was increased to 3.73% in May 2018. Customer service doesn't care and discharge team were happy to provide the payout quote and didn't want to negotiate.
Currently trying to refinance with another provider.
- The website (www.loanenquiry.com.au) for accessing loan and offset account are rudimentary. The withdrawal from the offset account can be done only to a external(another bank) linked account. This request needs to be done by 2.30 pm business day and takes around 24 to 4...
Bait and switch - AVOID!
State Custodians make a great many promises, however, once they've got you on their books, they decrease their competitiveness incrementally, constantly edging your interest rate up and up, no matter what they said at the outset.
They promise a 0.2 'loyalty' bonus after five years, but then they put your rate back up even higher after a few months, citing 'increasing costs'. This business model is clearly one to get the new customers in and then gradually hike your rate to well over the going %. I am bitterly disappointed and am already looking elsewhere. It's not even the rate that stings so much as the false promises.
Avoid this company if you possibly can.
Rates rise after you have signed up, even though low rates are available for new customers.
I have had 4x rate rises over the last year. I have contacted SCMC several times to ask why they have not applied the 0.25% loyalty discount after 60months (which was part of the reason I went for SCMC in the first place), and unsurprisingly have had no response from any of my correspondence. Rates rise after you have signed up, even though low rates are available for new customers. I will likely be finding another provider also.
Interest rates increased TWICE in last 11 months since the sign up
I signed up with SC at the rates of 3.64% for both my PPOR and Investment loans. Soon after signing up, Investment loan interest was raised to 3.99% and recently I received a letter that the interests are going up again, PPOR to 3.74% and Investment loan to 4.12%!!!
Of course, all this is happening while new customers still sign up with the rates of 3.64%. And recently they were even advertising 3.54% only week or so ago!!!
If the rates are going to be just like any other bank, it would make sense for anyone to go to bigger banks due to ...the fact that they will get better services from bigger banks, like branches, mobile app, better support, better online system, credit card with rewards etc. I'd like to see the rate dropping to what the new customers are getting. Higher rates should not be how the loyal customers are treated with!!
Interest rate up for no reason
Less than a year ago I got a loan from State Custodians to buy my next investment property. Today I got a letter from State Custodians that my interest rate would be up by 0.15%. This is despite the fact that for my other investment loans with different lending institutions nothing is happening. Moreover, no market conditions actually changed and RBA left interest rates on hold anyway. So, as soon as you become their client, State Custodians would not care about you. After getting this letter, I would shop around and move out, if such a move would be financially viable.
Great experience throughout!
We are so pleased with the service we received from State Custodians - what a refreshing change from our previous home loan experience with a big bank that treated us like just another number. With State Custodians, it was clear from our very first conversation with them that their staff are experts in their field and passionate about delivering unrivalled customer service. Nothing was too much trouble for them. Our loan specialist Soul was highly knowledgeable and a pleasure to deal with, and the lovely Amelia contacted us regularly with progr...ess updates and to keep us on track with any documentation we needed to submit. Despite the busy Easter period, State Custodians consistently delivered ahead of schedule. It’s reassuring to know that there are still lenders out there who can offer competitive rates without compromising on customer service.
Can’t believe the loan assessor is blaming the fact he has a hard copy of everything that the loan application is still not approved after 5 days. Not sure why it would be a good idea to send personal documents via an unsecured email and then to blame the fact the documents are a hard copy not a emailed version it would take longer to approve, already worried about refinancing to this company
Are you a woman? Get ready to be ignored and forgotten
My husband and I have been going through the process of refinancing our loan and moving to State Custodians and I have become increasingly frustrated with the lack of transparency and inclusion in communication. I acknowledge that my husband is 'applicant number 1' on the forms, however I would expect a company in 2018 to have the capacity to use a reliable computer system that can identify the contact details of 2 people, not just 1. Every time I phone them I'm told my number isn't on the system, and I've been left off most email communication...including the actual legal documents to sign and return: if State Custodians expect me to sign a document, they might want to consider sending it to me. I don't believe it's a gender issue as such, but it's definitely an issue that needs to be addressed: I shouldn't be phoned at the end of the process to get a verbal 'yes' after all the details have been discussed only with my husband. And whilst it's easy for State Custodians to suggest that this is just a matter related to their internal systems, consider the fact that our current bank has offered to have a phonecall after regular work hours with both my husband and I via conference or speaker phone to ensure we both get the same information and can ask questions together: a courtesy never offered by SC.
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
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