- 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.
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.
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!
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.
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 !
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.
Review for Maryam - State Custodians
Maryam Siddique displayed the qualities that you want when getting a new loan or a refinance. Maryam delivered the perfect outcome. Maryam was honest, persistent and very resilient. Maryam was not deterred by any setback, remained calm, focussed and composed and she successfully achieved the perfect result in a very timely manner with the best possible loan terms and conditions. Maryam went over and above the call of duty and she remained accessible at all times to achieve the best outcome.
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.
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.
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...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.
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...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.
Great Rates. Terrible Application Process
All banks have policies for their due diligence, but State Custodians are beyond reproach; it is so excessive in comparison to other lenders. I keep wondering what the costs of these procedures must be.
It could be argued that a more thorough checking procedure is prudent, but asking for random and negligible documentation ad nauseum is a strange way to gain customers.
My documents are all signed but the requests keep coming. I feel that I have gained a master.
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.
Great customer service
From application to end, Leo was easy to communicate with and very helpful with advice. What a great service and thanks to Leo am a very happy customer! A fast and professional service.
Great service, excellent result!
Our State Custodian loan application process was handled professionally and timely by our Lending Specialist, Leo. Communication was detailed and accurate with the whole application process taking less than three weeks. Considering the work load of SC and the complexity of our loan, we are extremely happy with their service. We highly recommend State Custodians. Tip: Be patient and have all your documents ready - don't expect a loan to be approved in less than a week - there are rigid checks and balances that must be adhered to.
Thanks again SC and Leo!
Waste of time
After applying online, then being lead through the application process, I was made to wait over 4 weeks without any advice on the progress of my application? After eventually calling numerous times and emailing, I received a return email from my so called "loan application manager" advising me that she just noticed there were two key elements missing from my application, and could I send them through and she will forward my application for appraisal! Ofcourse I immediately responded with my feedback, also letting her know that I won't be persui...ng my application any further, to which she replied; yes I sincerely apologize that it was entirely my fault that your application has not been completed and forwarded before now" Great, thanks for wasting hours of my time that has amounted to zero!!
Please think twice if you want to sign up your loan with SC.
I realised there were reoccurring unauthorised transactions from my offset account. They admitted that it was their mistake but nothing was done. I have been waiting for them to refund my money for over 2 months, despite lots of follow up emails and phone calls. Complete waste of time.
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.
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.
- 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.
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.
Customer Feedback T.State Custodians
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.