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State Custodians

State Custodians (page 3 of 5)

3.8 from 425 reviews · View Statistics

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Ebi

EbiSydney

Be careful !

published

This is a trap. You start with a low interest rate and it doesnt take more than 9 months that the interest rate will be bumped up. This happened to me this week and is happening despite the fact that cash rate is on hold and no other banks and lenders have increased their interest rate.
Thanks
Ebi

2 comments
State Custodians
Customer Feedback T.State Custodians
Ebi
Ebi

Yes it is . Everything is planned in advance and almost 9 months into the loan it is bumped up . See how many borrowers hav had the same problem .

Steve

Steve

  • 2 reviews
  • 10 likes

Unethical

published
1 comment
State Custodians
Customer Feedback T.State Custodians
John

JohnSydney

Dont fall for the trap

published

We started out with a great rate (3.64%). They have now bumped this up 1%. There reason is the raised cost of funding but the truth is that no other banks have done this. SC is more risky to funders than the big banks so their cost of funding rises higher and more oftern than the big banks. As everyone else has said, it starts great but will end in tears.

Make sure you budget for an increase to 4%.

Also, i called and asked for my interest rate to be returned to the advertised rate but they refused. Not sure how those people below were successful, if those reviews were legitimate.

2 comments
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Customer Feedback T.State Custodians
John
John
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ash

ashtasmania

Very Poor customer care and have something to hide

published
1 comment
State Custodians
Customer Feedback T.State Custodians

Questionable practices - Statecustodians

published

Statecustodians home loans - what a joke! We decided to apply based on the 3.54% variable rate on Owner occupied as advertised. We made enquiries on 10/4/18 and was told we'll get a call on 17/4/18. [name removed] their lending specialist did call us today and informed us at the very start that the interest rate would go up tonight (!) from 3.54% to 3.64%. We spent an hour filling in their pre-approval application, and awaited a call only to be told this! What a joke!!! Keep away!

1 comment
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Customer Feedback T.State Custodians
muffler

mufflerSouth East Queensland, QLD

  • 2 reviews
  • 3 likes

Misinformed. Didn't proceed

published
2 comments
State Custodians
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muffler
muffler
  • Verified customer

Commenced on the best variable rate in Australia

published

BEWARE. We were lured in with a variable loan rate of 3.99% in 2016, now paying 4.5% after incremental increases, which we questioned and had very poor communication from SCs.
Advertising now at 3.54% for new punters. We have made a complaints to ASIC and ACC - with no glory, now lodging with the Financial Ombudsman Service.
Sad to see the same story for other customers.
We are discharging our 3 mortgages within the next month.

1 comment
State Custodians
Customer Feedback T.State Custodians
Dan

DanMelbourne

Good initial value but not transparent about real rates

published

The rates are good to start with and the loans are low maintenance, but they are quite deceptive in the way they manage these. Rates are not advertised as introductory or expiring after a certain period, but they slowly increase your rate above the advertised rates to some higher rate not disclosed anywhere on their website. I discovered this a rang and they said this was normal, but also offered to reduce my rate to the website advertised rate, however only a three months later and it is happening again. Look elsewhere if you don't want to have to be wasting time checking on their sneaky practices.

1 comment
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Customer Feedback T.State Custodians
Wes

WesSydney

  • Verified customer

Be aware of attractive rate at the start, it is more like bait advertisement

published
2 comments
State Custodians
Customer Feedback T.State Custodians
Wes
Wes
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Joanne

JoanneMelbourne

  • 2 reviews
  • 5 likes
  • Verified customer

If you are a woman, don’t expect to be included in communication

published

Despite specifically requesting that communication be addressed to both my husband and myself as co-applicants, this organisation continued to email either only my husband or when I was cc’d they addressed the correspondence to him only. And when the loan finally settled the congratulations was again only sent to my husband. Last time I looked it was 2018 and the days of women being neither financial contributors or decision makers has long gone. Simply the most appalling sexism I’ve had the displeasure of being subject to in . . . forever. Well done State Custodians.

1 comment
State Custodians
Customer Feedback T.State Custodians

Just bad

published

Stay clear and beware. I dealt with so many different people it really was like calling a call centre. I would start speaking with someone then the next week they would be gone. Really frustrating process.

The rate is good but I already have my concerns only a couple of weeks after settlement. I don't think this is going to be a long term thing.

1 comment
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Customer Feedback T.State Custodians
Mike

MikeEumundi

Interest rate hike of .35% to our Interest Only home loan.

published
2 comments
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Customer Feedback T.State Custodians
Mike
Mike
ShN

ShN

  • 2 reviews
  • 5 likes
  • Verified customer

Increased rates after settlement by whooping 0.35%

published

Bad company. They suck you in with their low rate and then increase it by a massive amount to make money. Yes other banks have also been increasing rates but not by such a big amount...

2 comments
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ShN
ShN
SDJ

SDJMid West, WA

  • 3 reviews
  • 2 likes

Very disappointed

published
1 comment
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Kiran

Kiran

  • 2 reviews
  • 8 likes
  • Verified customer

Misleading Interest Rates

published
2 comments
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Kiran
Kiran
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Peter K

Peter KBrisbane

  • 2 reviews
  • 4 likes

Disappointing!!!

published
2 comments
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Customer Feedback T.State Custodians
Peter K
Peter K
Soph H

Soph HSydney

  • 2 reviews
  • 4 likes

Misleading interest rates

published

We signed on with State Custodians two months ago. It took a very long time to meet their strict compliance requests but we understood this was part of the process. We secured a good rate and were pleased. Less than two months after signing on, and with no justification, they raised our rate by 0.35% from 3.64% to 3.99%. When I called customer service to request an explanation, I was informed it was a 'business decision' and would take two weeks for any kind of review to take place. I understand this is common practice with many banks but I would NOT recommend anyone else to take out a loan with this company. These kind of lending practices verge on predatory. Use caution please!

4 comments
Soph H
Soph H
State Custodians
Customer Feedback T.State Custodians
Soph H
Soph H

Thank you for your prompt response. If the case is that you are simply responding to other banks putting up their rates, can you please explain why you are still advertising your rate as 3.69%? I look forward to your response. Soph H

Calvin McMahon

Calvin McMahonMelbourne

  • 3 reviews
  • 10 likes

Rates higher than advertised

published

State Custodian increases their rates twice when I settle my loan this year. Somehow RBA hasn't increase rates and they claim competitors had. The website interest rates are really for advertisement only. I would question the integrity of this institution.

1 comment
State Custodians
Customer Feedback T.State Custodians
Cheryl

CherylBulli

  • 3 reviews
  • 7 likes

Very dissapointing

published

After two weeks they got back to me. I didn't meet their criteria apparently! By that time though I had been approved for an88% LVR with ANZ. So, maybe they can't read financials or, bother to ask the right questions. Having said that it probably is down to each consultant and always some are better than others.

1 comment
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Luke P

Luke PGold Coast

WORST Experience!! STAY AWAY

published
1 comment
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Questions & Answers

Jack

Jackasked

What is the discharge cost if leaving/distachargin a state custodians variable rate home loan of $250,000 please?

No answers
John N.

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
pablo
pablo

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

Lynette

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
State Custodians
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

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