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Expert review

Marc Terrano

Review by

Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. Heā€™s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.

Expert review

The State Custodians Low Rate Home Loan with Offset is available for both owner occupiers and investment, but not available as a construction option. Pre-approval is available in two minutes after submitting an application, and isn't recorded on your credit file.

About this loan

Pay your home loan off sooner with these benefits

  • Loan term. The maximum term for this loan is 30 years.
  • Loan size. This loan has a minimum borrowing amount of $100,000 up to a maximum of $2,000,000 with a maximum exposure of $2.5 million assessed on a case by case basis.
  • Loan amount. You can borrow a maximum of 80% of the property's value without paying lenders mortgage insurance (LMI).You can borrow up to 95% of the value of the property if you pay LMI, which can be capitalised on the principal amount; however, this will attract a higher interest rate. For refinancing and debt consolidation, the maximum LVR is 90%.
  • 100% offset account. Save money on interest payments by depositing funds in your offset account.
  • Flexible repayments and repayment options. Principal and interest payments are available, as well as interest-only for up to ten years. You can also make extra repayments without penalty.
  • Split facility. Split your loan up to six times for free. This will see your loan split into both fixed and variable portions, so you can enjoy some of the benefits of both. You can also use a portion as a line of credit facility at no extra cost.
  • Portability. Your State Custodians loan is portable. If you need to move houses, you can move the loan to the new property provided you meet the conditions. This helps you avoid exit fees when leaving your loan, and upfront fees when taking out a new one.
  • Get access to any extra repayments you've made. You can access any additional repayments you've made through the online redraw facility. The minimum redraw amount is $100.
  • Fixed rate option. You can switch to a fixed rate at no extra cost.


  • Portability fee: $499. Should you decide to move properties and keep your loan with you, this fee will be charged.
  • Application fee: $0. This fee is typically charged to cover the cost of setting up the paperwork and your account.
  • Property valuation: $0. This covers the cost of sending a valuer to the security property to determine its value.
  • Title discharge fee: $300 plus legal. This is payable when you've paid off the loan and State Custodians transfers the land title back to you.
  • Stamp duty, legal fees, registration, title insurance: Varies. This includes the cost of using a third party conveyancing service, other government charges for processing the paperwork and stamp duty costs. Check with your local Office of State Revenue to see if you're eligible for any concessions.

How to apply

If you would like to apply or find out more information about this loan, please click on "Go to site" to be taken to the State Custodians website. You can get pre-approval within two minutes.

Eligibility requirements

  • You must be at least 18 years of age
  • Both Australian residents and non-residents are eligible
  • You must have a good credit history, though if you have a few defaults a State Custodians specialist can still offer alternative products
  • If you're casually employed, you must have been with the same employer for a period of at least 12 months and receive regular shifts
  • If you're employed, you've been in the same job for at least 3-6 months. However, if you've been in the same industry for two years, this period can be shorter.

How long does the application process take?

The minimum time for the whole loan application is one week, though this depends on a lot of factors such as:

  • How soon you can provide the documentation requested
  • How soon a valuer can access the property

What documents do I need to supply?

  • Personal details - name, 100 points of ID, residential address, marital status and residency status
  • Employment details - whether you are on PAYG payments or self-employed, as well as details of your annual income
  • Loan details - intended product name, borrowing situation and security property information
  • Financial details - your current assets, liabilities and investments you may have

Home Loan Offers

Important Information*
Logo for Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)
Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)

Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

Logo for St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback. A competitive variable rate loan from St.George. Refinancers borrowing $250,000 or more can get $4,000 cashback (Other terms, conditions and exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.

Logo for UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate

Take advantage of a low-fee mortgage with a special interest rate of just 2.49% p.a. and a 2.49% p.a. comparison rate.

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  1. Default Gravatar
    May 2, 2017

    I enquire about a 25 year loan, based on advertised 3.64.

    I wish to confirm that this variable rate is based on the term of the loan, pending any governmental financial changes that may occur and will not change shortly after taking the loan.
    What are the total real fees inclusive of any stamp, registration, legal fees etc….?
    Additionally do I read the terms correctly that there is no termination of loan fee incurred, just a titles handover and nothing else

    • Avatarfinder Customer Care
      May 8, 2017

      Hi Rich,

      Thanks for your questions.

      According to the terms and conditions of State Custodians Low Rate Home Loan with Offset, all interest rates are effective from 3rd May 2017 and that the interest rates they feature on their website apply to new eligible owner occupied loans at 80% LVR and may differ depending on borrower type and LVR. The rates are also subject to change without notice.

      This home loan attracts a discharge/exit fee of $300 plus Legal.

      In regards to the total fees, you may have to directly get in touch with State Custodians to get a quote as the fees vary depending on your situation.


  2. Default Gravatar
    June 22, 2015

    how can i talk with you regarding a home loan

    • Default Gravatar
      June 22, 2015

      Hi Newton,

      Thank you for your comment.

      You have reached, a financial comparison website, please use the “Got to site” or “more info” buttons to be taken to the State Custodians Mortgage Company website where you can contact them directly about this home loan.


  3. Default Gravatar
    March 20, 2015

    I see employment must be for three to six months, what about the Australian Defence Force – been there for a month but want to start investing now

    • Avatarfinder Customer Care
      March 20, 2015

      Hi Gillian,

      Thanks for your question.

      Please note that is an online comparison service and does not represent State Custodians.

      If you would like to discuss your eligibility or options, please get in touch with State Custodians directly by clicking on ‘Go to site’.


  4. Default Gravatar
    March 19, 2015

    does your company do construction to permanent residential loans and if so what are the terms?

    • Avatarfinder Customer Care
      March 20, 2015

      Hi Scott,

      Thanks for your question.

      Please note that the Breath Easy Offset does not have a construction option.

      State Custodians does offer a separate construction loan and you can choose for it to revert to a permanent residential loan.

      If you click on ‘Go to Site’, you’ll be taken to the official State Custodian’s website where you browse through your options.


  5. Default Gravatar
    November 8, 2013

    What interest rate are you offering for a 3 to 5 year fixed rate, interest only on $ 730 000 with the property being valued at $ 1000000, and how quick does the process take

    • Avatarfinder Customer Care
      November 11, 2013

      Hi Troy,

      Thanks for your comment.

      From the figures that you’ve given, your LVR is less than 80%. Please refer to the row that states ‘<80%' for your interest rate.

      Approval can take up to a one week but this will depend on how fast you can get in all the required documentation and how soon a valuer can access the property.

      Hope this helps,

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