State Custodians Home Loans

State Custodians is an online lender that was founded in 2007, with a mission to offer an affordable alternative to the banks.

Although a newcomer to the home loan business in Australia, State Custodians is now owned and funded by RESIMAC Limited, which has been delivering financial services for more than three decades.

State Custodians offers a broad range of home loans and also specialises in mortgages that cater for borrowers with bad credit.

Pros:
  • State Custodians offer a variety of home loan products.
  • Flexible loan options.
  • Award winning loan products.
Cons:
  • No branch network.
  • Some products include fees.
State Custodians customer service:

Home loan customers can contact State Custodians calling the customer support line, emailing customer support directly or via the online chat function. As State Custodians is an online only lender there is no branch network.

State Custodians home loans

Low Rate Home Loan with Offset (Principal and Interest) (LVR < 80%)
Advertised rate
3.64%
Variable
Upfront fee
$286.00
Comparison rate*
3.67%
Ongoing fee
$0
Compare
Fixed Rate Home Loan 1 Year (LVR < 80%)
Advertised rate
3.94%
Fixed - 1 year
Upfront fee
$286.00
Comparison rate*
3.70%
Ongoing fee
$0
Compare
Fixed Rate Home Loan 2 Years (LVR < 80%)
Advertised rate
4.09%
Fixed - 2 years
Upfront fee
$286.00
Comparison rate*
3.75%
Ongoing fee
$0
Compare
Fixed Rate Home Loan 1 Year (LVR 80%-90%)
Advertised rate
4.04%
Fixed - 1 year
Upfront fee
$286.00
Comparison rate*
3.79%
Ongoing fee
$0
Compare
Fixed Rate Home Loan 3 Years (LVR < 80%)
Advertised rate
4.29%
Fixed - 3 years
Upfront fee
$286.00
Comparison rate*
3.84%
Ongoing fee
$0
Compare
Fixed Rate Home Loan 2 Years (LVR 80%-90%)
Advertised rate
4.19%
Fixed - 2 years
Upfront fee
$286.00
Comparison rate*
3.85%
Ongoing fee
$0
Compare
Low Rate Home Loan with Offset (Principal and Interest) (LVR 80%-90%)
Advertised rate
3.84%
Variable
Upfront fee
$286.00
Comparison rate*
3.87%
Ongoing fee
$0
Compare
Low Rate Investment Loan with Offset (Principal and Interest) (LVR < 80%)
Advertised rate
3.89%
Variable
Upfront fee
$286.00
Comparison rate*
3.92%
Ongoing fee
$0
Compare
Fixed Rate Home Loan 3 Years (LVR 80%-90%)
Advertised rate
4.39%
Fixed - 3 years
Upfront fee
$286.00
Comparison rate*
3.94%
Ongoing fee
$0
Compare
Fixed Rate Home Loan 4 Years (LVR < 80%)
Advertised rate
4.44%
Fixed - 4 years
Upfront fee
$286.00
Comparison rate*
3.94%
Ongoing fee
$0
Compare
Fixed Rate Investment Loan 1 Year (Principal and Interest) (LVR < 80%)
Advertised rate
4.19%
Fixed - 1 year
Upfront fee
$286.00
Comparison rate*
3.95%
Ongoing fee
$0
Compare
Fixed Rate Home Loan 1 Year (LVR 90%-95%)
Advertised rate
4.24%
Fixed - 1 year
Upfront fee
$286.00
Comparison rate*
4.00%
Ongoing fee
$0
Compare
Fixed Rate Investment Loan 2 Years (Principal and Interest) (LVR < 80%)
Advertised rate
4.34%
Fixed - 2 years
Upfront fee
$286.00
Comparison rate*
4.00%
Ongoing fee
$0
Compare
Fixed Rate Investment Loan 1 Year (Principal and Interest) (LVR 80%-90%)
Advertised rate
4.29%
Fixed - 1 year
Upfront fee
$286.00
Comparison rate*
4.05%
Ongoing fee
$0
Compare
Fixed Rate Home Loan 2 Years (LVR 90%-95%)
Advertised rate
4.39%
Fixed - 2 years
Upfront fee
$286.00
Comparison rate*
4.05%
Ongoing fee
$0
Compare
Low Rate Home Loan with Offset (Principal and Interest) (LVR 90%-95%)
Advertised rate
4.04%
Variable
Upfront fee
$286.00
Comparison rate*
4.07%
Ongoing fee
$0
Compare
Fixed Rate Investment Loan 2 Years (Principal and Interest) (LVR 80%-90%)
Advertised rate
4.44%
Fixed - 2 years
Upfront fee
$286.00
Comparison rate*
4.10%
Ongoing fee
$0
Compare
Low Rate Investment Loan with Offset (Principal and Interest) (LVR 80%-90%)
Advertised rate
4.09%
Variable
Upfront fee
$286.00
Comparison rate*
4.12%
Ongoing fee
$0
Compare
Low Rate Investment Loan with Offset (Principal and Interest) (LVR 90%-95%)
Advertised rate
4.29%
Variable
Upfront fee
$286.00
Comparison rate*
4.32%
Ongoing fee
$0
Compare

How to Apply

Customers wanting to apply for a State Custodians loan can apply by filling out a pre-qualification application online or by calling the bank. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income.

You will also need to provide documentation when applying for a home loan. This will include:

  • Name and contact details of each borrower.
  • Income & expenses.
  • Existing property details and liabilities.
  • If you’re self-employed you will need to include the last two Business Activity Statements (BAS), three months of business bank statements and a letter of verification from an accountant.

About State Custodians home loans

State Custodians has as a reputation for offering simple home loan products that suit the following customers:

  • First home buyers
  • Owner-occupiers
  • Investors
  • Refinancers
  • Self-employed (low-doc)
  • Line of credit

State Custodians home loans come with a range of interest rate options:

  • Principal and interest
  • Interest-only
  • Fixed rate
  • Variable rate
  • Split loans

State Custodians allows its customers to borrow up to 95 per cent of the home’s value, as long as conditions are met.

The online lender has a minimum loan amount of $100,000 and a maximum of $2,000,000.

Customers of State Custodians can make unlimited extra repayments, and free online redraw facilities are available on their home loans. All its mortgages also come with a free 100 per cent offset account.

State Custodians home loan terms range from 1-30 years and repayments can be made weekly, fortnightly or monthly.

State Custodians home loan rates

State Custodians interest rates differ depending on the product, and range from very low to moderate.

Customers of State Custodians paying principal and interest get lower interest rates than those paying interest-only, and those with lower LVRs get lower interest rates than those with higher LVRs.

However, unlike most of its competitors, who increase interest rates on their line of credit mortgages, State Custodians tends to charge similar rates to its other products.

For owner-occupiers there are products that have very low rates, however generally their rates are moderately low to moderate.

The current home loan interest rates for investors paying principal and interest range from very low to moderately low. The interest-only investor mortgage rates are moderately low.

Although the upfront fees tend to be moderately high, State Custodians’ ongoing home loans fees are generally very low, but there are some products that also have high annual fees.

State Custodians home loan review

As a challenger lender, State Custodians has a point of difference from the big banks that offer face-to-face customer service, as well as a host of other financial services - it attracts customers by offering lower than market interest rates.

As an online lender, most of its customer service is done online, but customers can also call for assistance 9am-6pm Monday to Friday.

Although State Custodians offers a wide variety of home loans, the lender doesn’t offer reverse mortgages, SMSF home loans or land and construction loans. However, unlike many lenders who turn down customers with bad credit, State Custodians offers specific mortgage products to suit these clients.

Since it began trading, State Custodians has consistently offered competitive home loan rates; in fact it has won several independent awards, including Money Magazine’s Non-Bank Lender of the Year award for 5 years in a row.

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