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 ?
Helpful staff. Easy and straightforward process. Right rate. No complaints here.happy to recommend Justin. Whole process took only few weeks from start to finish with everything explained well and in a timely fashion. Cheers
Cheap rates, helpful staff
State Custodians offered competitive rates and the application process was pretty simple and they didn't demand intrusive levels of paperwork (some lending institutions want details of all your bank accounts).
Staff, especially Leo, were very helpful and patient at addressing my many queries as it was my first mortgage.
Great customer service and very good rates. No hidden catches
The customer service provided were second to none, i was impressed by the whole experience. There were no extra or hidden costs, very satisfied with the loan and it is now the second property i have refinanced with them.
Good rate but requires a lot of work to get through
We found State Custodians to have a very competitive rate and good products that met our need to release some equity in our property for future investments. I'm not sure if it is a reflection of their risk appetite, but they require a lot of documentation (around 20 documents in our case). But Justin our service representative was very responsive to helping use through the process and ensuring we clearly understood the product. We had also read through these reviews previously and understood that the process could take a long time (which for us it did). However in our case that wasn't an issue. I'm sure in other instances they could speed up the process as long as you have all your documentation in order.
Competitive interest only investor rates
Great rate for investment offset account with additional features like debit card at no extra cost. Very easy process if you have your documents and expenses lined up. Even so, customer service is patient and can help guide you through what is specifically required anyway (thanks Leo). One issue which is probably not SC's fault, the valuer turned up to the property without my prior notice (no call or email, my agent had not received anything also). Tenants had just moved in and were surprised (had to reassure them all was well). Apart from this..., everything was quite smooth, easy to call or email customer service to tend to any questions on refinancing. Have recommended to friends and family! Note: I was politely asked to leave a review. But very happy to do so :)
Low account fees and interest rate
Customer service and settlements helped answer all my questions and ensured that all the paper work was completed accurately and in a timely manner. The loan should be finalised in the coming days and I look forward to having little to no account and transaction fees as well as a very competitive interest rate (3.15% pa effective from the 24th of July so I have been told). Haven't used their online banking as yet. As long as the site is user friendly and does the job who cares about all the bells and whistles when the account fees are practically non-existent and the interest rate is so low.
Great loan, it's cheap for a reason though
State custodians provided excellent customer service and a very smooth lending process. Their rate is one of the best you can get, but now I've been with them for some time, I have to say I'm extremely disappointed with the RESIMAC-based loan enquiry system.
I have setup an offset account and had the idea that I'd be able to use it like a regular bank account.
I was wrong. The thing is a dinosaur.
Here's a list of everything that's wrong with it:
This is the worst and biggest problem:
YOU CAN'T SETUP AUTOMATIC PAYMENTS TO BANK ACCOUNTS OR CREDIT CARDS...
Great if you're not in a hurry
Our approval took a month. Preapproval is quick but after that things so down. I was told they're just really busy. Kept asking for more documents (we were refinancing). They increased the amount of our loan between application and preapproval without asking me. Then when I pointed the increase out I was told I hadn't applied for enough to cover the refinance. Pointed out I had and they eventually agreed. With all that said it's pretty painless (if you're not in a hurry) and the communication is reasonably good. And in the end I'm going to save 4 years and $50k so it's win/win.
Customer service was excellent, the process took us longer than expected as the documents were sent by email from the solicitor, this meant we had to print 59 pages twice as we were refinancing 2 loans. I feel the solicitor could have sent this information to us with stickers attached of were to sign. I'm not sure what the solicitor fees included as we feel we printed documents and sent registered post, just to get it right.As for State Custodian they were very informative and a pleasure to deal with. Our interest rates were so much cheaper than our previous bank, lets see if they stay that way?
Good Refinance HL P&I80%
Refinanced and consolidated Home P&I <80% variable interest rate
Application pretty much as expected and straightforward
The lending team are helpful and understanding of having multiple debts to consolidate
Didn't ask that many questions after receiving paperwork however when they do, it took a week to review the simple answer and then they ask another question which takes another week etc... So if you have different ways of answering (eg. Work letter about payrise actual payslip, bank statement showing pay etc..) then give them all the ver...
Very helpful customer service.
Process was quicker than I was at getting everything organised. Probably would have been 4 odd weeks if I'd been more organised when I made the initial enquiry. Being all online and over phone I found a little daunting and hard at times not knowing just what to do, but the various people involved to help really did make it easy enough, and I probably didn't need to try and work out as much for myself as I tried to. I got a lawyer to look over the contract because it suggested to and I didn't understand it all, so there was a cost there, but he ...said the contract was pretty standard and all above board. As with most things, looking back, it wasn't really that hard. Online banking system comes across as a little clunky, but again, seems to be fine when you get used to it a little, does everything I need it to do. They probably don't explain everything you can think of upfront on how to do things and how the process works so you need to ask, but don't be afraid to ask, no question was too silly or hard to answer. I think I'll be happy.
- Verified customer
Loyal customers given different rates
I have been with State C for over 4 years and yes the application could have been handled better however at the time the rates were pretty amazing. I have noticed over time that you need to keep an eye on every lender. In the past I have noticed my rates were different to what had been advertised on State Cust website. On two occasions after a phone call and a week or 2s wait I was offered the same rate. However recently, I tried this again as once more there was a disparity and was told ''sorry no can do." I have since had the latest incr...ease like all customers new & old on the 9th October, however, I am still mystified as to why both my rates are still higher than the advertised rate??? Especially when your letter came on the 25th Sept. It is now 20 days later. Surely, in this technical age your website can be preset to reflect the rises from the date they increase, as you have no problem making sure the difference is applied to all of our loans. Or, are these rates offered to new customers.?? One never knows... Time to shop around as I can see there are better rates out there & I can find many other uses for my $130 per mth increase. State Cust feel free to email me directly UPDATE: I was recently contacted by SC after receiving emails advising of their fantastic rates (for new customers only!!) I did respond x 2 saying how disappointed I was that their current and loyal customers were being forgotten. On the 19th Dec I was contacted and offered a discount from my current 4.17% to 4.04% This is the type of service that customers appreciate. If only they would contact all customers and offer these discounts. Their bottom line may shrink temporarily, but their customer base would increase as the positive feedback would travel quickly increasing their customers, hence profit. Thank you Sate Custodians for listening.
Great product, application process could be a little easier
For the fantastic interest rate and features, it was worth the trial of not having much assistance with the online application process. [Name Removed] was good at sales but could be better at support. [Name Removed] is a real gem she is so knowledgeable, responsive and patient. Glad I persevered, all smooth sailing now.
Great service but a few things were a little challenging
We have had multiple home loans with the major banks. This is the first time we applied for a home loan outside of the top 4 banks. Service was great and efficient. However some things were a little more difficult than dealing with a bank that is a one stop shop with everything to do with applying for a home loan to loan settlement all under the one roof. I would still recommend State Custodians though as a good alternative to the major banks especially with their low interest rates and offset account availability.
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
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