State Custodians Standard Variable Home Loan Review

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Use the 100% offset account attached to this loan to help you pay off your home loan sooner

A fully featured home loan like the State Custodians Standard Variable Home Loan will see you get a 100% offset account, unlimited extra repayments and a free redraw facility to help you pay your home loan off sooner.

What should you consider about the State Custodians Standard Variable Home Loan

This home loan is ideal for owner occupiers and first home buyers whether they are purchasing property or refinancing from another lender. You're also able to use this loan for personal or for investment use.

Pre-approval is also available, helping you to step into the market with confidence about how much you can borrow. Please be mindful that this loan is not suitable for construction purposes.

What are the features of the Standard Variable Home Loan?

  • Fee free 100% offset account. You are able to link a 100% offset account to your mortgage, allowing you to deposit money into it and save on interest. Access the funds at any time with a debit MasterCard that lets you use it anywhere the MasterCard logo is displayed.
  • Loan term. This loan has a maximum term of 30 years, so it can be used for a variety of long term investment strategies.
  • Loan size. You can borrow from a minimum of $100,000 to a maximum of $1,500,000 to help suit a large range of properties at different price points. State Custodians are willing to accept amounts up to $2.5 million assessed on a case by case basis.
  • Loan-to-Value Ratio (LVR). You can borrow up to 90% of the security property's price, which means if you only have a 5% deposit you can still qualify for this loan and get into a property sooner. However, be mindful that higher interest rates will apply for LVRs above , plus you'll need to pay Lender's Mortgage Insurance (LMI) that you can capitalise on your principal amount. For refinancing and debt consolidation, the maximum LVR is 90%.
  • Interest-only option. You can make principal and interest repayments or interest-only repayments, which can make it a good choice for investors looking to maximise tax benefits. Be aware that there's a 10 year maximum limit on the interest-only option.
  • Repayment methods. You can make repayments in any manner which suits you, from direct debit, phone banking from the offset or external bank account and salary credit or manual bank transfers.
  • Redraw facility. The extra amounts you've paid on your loan or funds in your offset account are easily accessed online, via BPAY (may take 2-3 days to clear) and a linked Debit Mastercard.
  • National Rental Affordability Scheme (NRAS) approved. Offered to borrowers who are eligible under the partnership with the Australian Government and its states and territories to invest in affordable rental housing.

Fees and charges

There is no application fee for this loan, below are the fees you will be charged:

  • Annual fee, $299. This fee is charged on an annual basis to cover the cost of maintaining your account.
  • Title discharge fee, $300 plus third party legal fees. When you've paid off the loan and the title is returned to your name, this fee will apply. Your personal conveyancer or solicitor may add additional fees to this.
  • Property valuation fee, $286 per valuation. As part of the home loan application process, State Custodians will need to send a valuer to the property to assess it's value.

How to find out more information about the State Custodians Standard Variable Home Loan or apply

If you think this is the right loan for you and you're ready to apply, please click on 'Go to Site' to get your application started. You'll be taken to State Custodian's website, where you can start a pre-approval application or just find out more.

Are you eligible? Check the criteria below:
  • At least 18 years old
  • A resident or a non-resident
  • Have a good credit standing, though if you have a few defaults a State Custodians specialist can still offer some options
  • Employed and have been in the same job for at least 3-6 months. However, if you've been in the same industry for two years, this can be shorter.
  • Casually employed (but you must have been with the same employer for a period of at least 12 months and receive regular shifts)
How long will your application take to process?

The minimum time for a loan application is one week, though this depends on some factors:

  • How soon you can provide the documentation
  • How soon a valuer can access the property
What documents do you need to supply in order to apply?
  • Personal details - full name, address, marital status and residency status
  • Employment details - whether you are PAYG or self employed and annual income
  • Loan details - product name, borrowing situation and security property details
  • Financial details - your assets, liabilities and equity
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This page was last modified on 27 March 2017 at 6:03pm.

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9 Responses

  1. Default Gravatar
    LesleyNovember 10, 2015

    What is your comparison rate for a owner occupier home loan for 3 years of $400,000? The property is valued at $1,000,000 and I earn approx $300,000 per annum with no other debts.

    • Staff
      MarcNovember 11, 2015Staff

      Hi Lesley,
      thanks for the question.

      You can see most of State Custodian’s comparison rates on this page. To negotiate a rate please contact them directly.

      I hope this helps,
      Marc.

  2. Default Gravatar
    BruceSeptember 19, 2015

    What banks building societies currently offer non recourse loans to SMSF for residential investment.

    Are there any still doing thus.

    • Staff
      BelindaSeptember 21, 2015Staff

      Hi Bruce,

      Thanks for your enquiry.

      finder.com.au is an online comparative service so while we can provide general information, we can’t recommend specific home loans to you.

      To help refine your search, you can compare a range of reverse mortgage loans on this page and you can also compare SMSF home loans here and fill out the form to speak to a financial advisor to discuss your options.

      Thanks,
      Belinda

  3. Default Gravatar
    August 19, 2015

    Hi my question is,

    I wish to refinance my current loan of 100000. I have $80000 as a loan offset. What is the best loan as we want to pay the loan off ASAP, however we donor wish to use our own capital. Ps we have a small default loan of 4000 which we refuse to pay out of principle. We are debt free and have 1500000 in equity. I am semi retired and have a passive income of 6000 pm. What advice do you have.

    Many thanks

    Ian f

    • Staff
      BelindaAugust 21, 2015Staff

      Hi Ian,

      Thanks for your enquiry.

      Firstly, I’d like to point out that finder.com.au is an online comparison service so we don’t offer or recommend loans ourselves but rather provide general information so you can make a more informed decision.

      On this page you can read our guide about the costs and considerations of refinancing your mortgage, and you can also compare a range of loans that may be suitable for refinancing purposes.

      Please be mindful of any break or switching costs charged by your current lender as well as the application costs charged by a potential new lender.

      Thanks,
      Belinda

    • Staff
      BelindaAugust 20, 2015Staff

      Hi Ian,

      Thanks for your enquiry.

      Firstly, I’d like to point out that finder.com.au is an online comparison service so we don’t offer or recommend loans ourselves but rather provide general information so you can make a more informed decision.

      On this page you can read our guide about the costs and considerations of refinancing your mortgage, and you can also compare a range of loans that may be suitable for refinancing purposes.

      Please be mindful of any break or switching costs charged by your current lender as well as the application costs charged by a potential new lender.

      Thanks,
      Belinda

  4. Default Gravatar
    JaySeptember 14, 2013

    Hi, I am considering of refinancing my home loan with the amount of $530,000 to your company, however I am not quite sure if it will be worth it after paying exit fees to my current lender. I was wondering if you can give me some advice.

    Thanks

    Jay

    • Staff
      MarcSeptember 16, 2013Staff

      Hello Jay,
      thanks for the question.

      Unfortunately we’re not State Custodians, but a comparison website. If you’d like to speak to State Custodians about refinancing you may wish to contact them directly. Refinancing as you mention does come with some costs, so it’s a good idea to tell your existing lender you plan to refinance and ask them for a quote regarding what you’ll pay to exit your loan. For more information regarding this view this page.

      I hope this helps,
      Marc.

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