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MyState Bank Home loan customer reviews

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Based on 125 home loan reviews as rated by the Mozo community.
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Recent MyState Bank home loan customer reviews

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  • MyState Bank Basic Variable (<60% LVR, Owner Occupied, Principal & Interest)

    Top suppliers

    This Bank provided us a loan when many wouldn't plus the follow up was great and the people who are employed seem very knowledgeable

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    Jean, Queensland, reviewed 5 months ago
  • MyState Bank Special Residential Home Loan (Owner Occupier, Principal & Interest, LVR<60%)

    Excellent rates and customer service but bad app

    MyState have excellent rates and excellent customer service, as well as a super low monthly fee for loans with their offset feature. However, the online banking app leaves a lot to be desired! Overall it is worth the trade off to save $$

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    Charlotte, South Australia, reviewed 8 months ago
  • MyState Bank Standard Variable Home Loan (Owner Occupier, Principal & Interest)

    A top bank but could use a branch in this state.

    Without this bank we would not have a home So yes we like the bank and are easy to talk to. they also reach out to us all the time

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    Jean, Queensland, reviewed 8 months ago
  • MyState Bank

    Dodgy drip feeding of impossible loan conditions

    I got rapid pre-approval after applying for a loan to buy land and build, and receiving assurances from MyState I had 12 months to build. So I went ahead and put an offer on a block of land in, only to be told a week before the cooling off deadline some 6 weeks later, that I needed a building contract or the loan wasn't going to happen! So I had to go ahead and just purchase the land, thereby forgoing my ability to access the First Home Guarantee, and that meant I have to conveniently pay MyState $15k in LMI. Then they tell me 3 days before the deadline that I have to come up with 10% deposit, not 5% because I'm buying in a regional area which they don't like. Then they say even though I'm paying for their valuation, which came back as $15k higher than I'm paying the vendor, they're not going to take it into account. Why? They don't feel like it. A dodgier pack of discriminating drip feeding pen-pushers I have never met. They've had the application for 50+ days and counting. All for someone with zero debts.

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    Carole, Victoria, reviewed about 2 years ago
  • MyState Bank Fixed Rate Loan (Owner Occupier, Principal & Interest, LVR<70%)

    Thorough

    Flexible.

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    Pamela, Tasmania, reviewed about 2 years ago
  • MyState Bank Home Loan

    CONSIDERING CONTACTING A CURRENT AFFAIR PROGRAMME

    Have a daughter applying for a home loan single person! Cannot believe understand the crap/delay/frustration/stress/stress and depression she is undergoing through this Organisation! Would not recommend Your Organisationtion - you advertise quick turnover for Loan applications - SUGGEST YOU ADVERTISE SOMEWHAT DIFFERENT - SLOW GO - SLOW PROCESS- SLOW APPROVAL - YOU SHOULD BE HELD ACCOUNTABLE - YOU DEFINITELY DO NOT PREACH WHAT YOU ADVERTISE!!!!! FALSE ADVERTISING COMPLETELY!!!!!!!

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    Daphne, Queensland, reviewed over 2 years ago
  • MyState Bank Home Loan

    Do not recommend

    Waited a very long time post a yes on pre approval - to then after supplying lots of extra documents to help support us they still denied us, despite our loan servicing is more then fine. We forgot to disclose a trade support loan of $2700 by a honest mistake as you pay additional $300 per week in next tax barrack to repay any HECS etc and had been paying that for 12 weeks so loan would of been paid back- updated work and filled out new tax deduction form not claiming it got at letter from work as per request from MyState. After waiting and waiting and doing everything they asked, getting letters for them that no bank would of asked for going out of our way as I was so excited to move from Westpac to MyState and give them my more the capable customer loyalty and service… plus also promised timelines to then be declined because of a wee mistake- it’s so not fair and have lost a valued customer. Made a complaint and yet to receive a call back.

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    Jacinta, Victoria, reviewed over 2 years ago
  • MyState Bank

    Run now while you can.

    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.

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    Blair, Queensland, reviewed over 2 years ago
  • MyState Bank Home Loan

    Passive aggressive staff who enjoy refusing servic

    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.

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    Bahati, Victoria, reviewed over 2 years ago
  • MyState Bank Fixed Rate Loan (Owner Occupier, Principal & Interest, LVR<70%)

    Stressful, incapable, 0 communication don’t go her

    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.

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    James, New South Wales, reviewed over 2 years ago
  • MyState Bank Standard Variable Home Loan (Owner Occupier, Principal & Interest)

    BEST BANK EVER

    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!

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    Snez, Victoria, reviewed over 2 years ago
  • MyState Bank Home Loan

    Worst bank in the world

    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

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    Tyson, South Australia, reviewed almost 3 years ago
  • MyState Bank Home Loan

    Too slow.

    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.

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    John, Victoria, reviewed almost 3 years ago
  • MyState Bank

    Not recommended.

    Archaic loan with higher interest rate than competitors, very little features, and those it does have are cumbersome and costly.

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    Gayle, Tasmania, reviewed almost 3 years ago
  • MyState Bank Home Loan

    High loan interest rates, refuse to drop

    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.

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    Scott, New South Wales, reviewed about 3 years ago
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    Home loan comparisons on Mozo - rates updated daily

    • Home Fixed Rate

      interest rate
      5.80% p.a.
      fixed 3 years
      comparison rate
      6.05% p.a.

      Promoted
    • Unloan Variable

      interest rate
      5.99% p.a. variable
      comparison rate
      5.90% p.a.

      Promoted
    • Ultra Low Rate <95% LVR

      interest rate
      6.30% p.a. variable
      comparison rate
      6.58% p.a.

      Promoted
    • Home Variable Rate

      interest rate
      6.15% p.a. variable
      comparison rate
      6.15% p.a.

      Promoted
    • Straight Up

      interest rate
      6.24% p.a. variable
      comparison rate
      6.24% p.a.

      Promoted

    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.

    Want more? Compare all 464 home loans in the Mozo comparison engine.

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