Absolutely useless. Had to get finance extended twice while Mystate stuffed around and kept our hopes up for approval but never even reviewed our application before finance time ran out. NEVER EVEN LOOKED AT IT. Appalling customer service. Said they will be looking at it over the weekend, nothing happened. They just couldn't be bothered. Avoid like the plague.
Bad customer service over the phone. Passive aggressive and unhelpful just to prove a point, despite providing all details they asked for to prove my identity, after I couldn’t remember my verbal code. No sense of urgency as it’s two days before my mortgage repayments are due, and all I wanted was for them to set up the repayments so that from this Thursday they are deducted from the new transaction account I just opened with them, and it has more than enough money. Coldly unbothered staffs who seemed to enjoy the fact that I was upset and pleading with them to help but they callously refused, just because they can.
Terrible experience! Went with them for a home loan because of their quick turn around time. It dragged out for over a month with them asking for information that we had sent twice already multiple times. They then told us everything was looking good just needed more info from guarantee so bought the house. Then they tell us on the afternoon of the last day of cooling off period that we are approved for nearly $100,000 less then we applied for! They made the whole experience stressful by not replying via email or phone call.
Wow. This is the first time I've moved to a smaller bank and I will never go back to one of the big 4 banks again. Their customer service is 10/10. They're extremely efficient, helpful and knowledgeable. They've well and truly exceeded my expectations in what i'm looking for in a bank and I would highly recommend them to everyone. Well done MyState. Keep up your good work!
This bank is nothing but trouble the entire way. We were charged 4 thousand because they took 60 days to get the finance. Then they we sold some land everyone had to wait literally 4 months just for mystate to do their part. My conveyancer and i have never seen anything like it. I could go on and on and on they literally dont care they are the slowest in the world and have zero problem stuffing you around non stop no matter how urgent your situation is they will not help you. Stay away
When applying for a home loan the time to decision is too long. Most contracts of sale assume a 14 day finance clause, however, even if you have pre-approval from this bank, you will wait 21 days (or longer) for a decision. I'm a permanent full time worker, with a very good credit rating, earning above average salary and applying for a LVR <80% and this is the timeline I've experienced with them, twice. Never again.
Archaic loan with higher interest rate than competitors, very little features, and those it does have are cumbersome and costly.
I am living in regional NSW and there are no physical banks to visit and withdraw money. The variable interest remained unchanged with the large reserve bank decrease. Was paying 3.52% for variable and they still refused to drop the rate given I was offered 1.89% for the same loan with a different bank. We will now be moving to a new bank. Although I had minimal issues contacting customer service and they were polite to deal with.
Since Mystate bank have pulled all branches out of Queensland their service has deteriorated to the point of being non existent. call them and wait times will exceed 1/2 an hour, and if you call the lenders department you are told to send them an email and they will get back to you within 3 days. Appalling. I have sold 2 houses that I had mortgaged through them and both times settlement has been held up by 5 days while they sort out their paperwork, and both times I had given them plenty of notice that the houses were sold. Never again. They have lost all my business.
We have been with this bank for over 15 years and even though there is no bank where we live service has always been efficient and friendly and communication is great.
They are extremely hard to communicate with long wait times and rude customer service. You can't talk directly to anyone from the bank servicing the loan and if it gets declined for any reason, they are ambiguous and will not give you a clear answer. Their wait times are up to 20 days and they are impossible to contact.
Certainly not a ‘human’ way to bank. A lack of regard for our needs both when we originally took out our loan and now at pay out. After paying out the loan and taking all requested discharge actions, we are still waiting for our cleared property title 8 weeks later, with at least another 6 week wait ahead of us. This bank has clearly moved too quickly to technological service delivery, without regard to sound business redesign and change management principles and practices. They have dropped the ball on those business processes for which they alone remain fully responsible. Their technological solutions are fragile and insecure, meaning face-to-face branch contact is the only reliable, accountable and safe way of doing business. Repetitive visits are required to track progress to maintain accountability, as bank staff appear not to be required to be proactive and personally responsible to ensure a business process reaches its natural conclusion and to keep customers informed of their progress. A continuing, deeply frustrating and disappointing experience.
Always had to fight to get a better rate and/or them to reduce their rate after official cuts. Even then, they never passed on full rate. I understand as a minor player in the market they have different pricing, costs etc. but that doesn't help me.
Communication can be challenging. Electronic systems need updating (ie; app / online calcs etc). Rates are pretty good. Local bank is comforting.
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WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
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